Datuk Dr Lim Keng Yaik should direct Tenaga Nasional Bhd (TNB) to pay compensation to consumers who suffered losses from the 90-minute power blackout in Penang or retire early as Minister for Water, Energy and Communications
____________
Press Statement
by Lim Guan Eng
________________
(Petaling Jaya,
Wednesday):
DAP demands that Datuk Dr Lim
Keng Yaik direct TNB to pay
compensation to consumers who
suffered losses from the
90-minute power blackout in
Penang yesterday or retire
early as Minister for Water,
Energy and Communications.
Failure to compensate
Penangnites would be a
betrayal of their trust and
support for Gerakan and BN in
the last general elections
where the interest of one
company is more important
than Malaysians.
TNB must be severely punished
to ensure that there is no
repeat of yesterday’s
shameful power blackout in
Penang. The blackout in
Penang that affected almost
half of the island in
Georgetown, Farlim, Sungai
Pinang, Bayan Lepas, Bayan
Baru and Balik Pulau.is
shameful because there is no
excuse any more for such
power disruptions.
TNB has one of the highest
reserve margin in the world
of 40% (when the
international benchmark is
15-20&) by paying for energy
TNB does not need. And yet
this reserve margin that is
so costly to maintain does
not insure us against power
blackouts. TNB had claimed
that increased capital
expenditure to improve the
distribution network required
a new power tariff hike. And
yet before a new power tariff
hike is decided, TNB has
recorded a 88% rise in net
profits this financial year
ending 31.8.2007 to a record
RM 4.06 billion against RM
2.16 billion previously.
TNB was still able to achieve
record profits despite the
record fuel prices unlike
ordinary Malaysians who are
unable to make ends meet.
Moreover, TNB continued to
enjoy gas subsidies from
Petronas. Petronas'
cumulative subsidy since 1997
amounted to RM 58.2 billion,
of which RM 48.8 billion was
to the power sector and RM
9.4 billion to the non-power
sector. Subsidies are part of
socio-economic measures meant
to help the poor. Something
is very wrong when subsidies
are offered to huge companies
to further pad their
extra-ordinary profits.
Either TNB is not spending
capital expenditure to
improve the distribution
network or the money spent is
not utilized efficiently. The
best method to ensure good
delivery is to punish TNB for
poor delivery. If Keng Yaik
fails to deliver this
important lesson to TNB, then
it is TNB that is in power,
not him and Keng Yaik might
as well retire early as
Minister.
(21/11/2007)
* Lim Guan
Eng,
Secretary-General of DAP |