KUALA LUMPUR (Jan 31): Shares of TENAGA NASIONAL BHD [] (TNB) fell on Tuesday on rising concerns about further compensation for the power giant which is still facing a severe gas shortage.
At 12.05pm, TNB was down 10 sen to RM5.87. There 1.07 million shares done at prices ranging from RM5.87 to RM5.97.
News reports said the problem of compensation for the burning of distillates following the severe gas shortage at TNB had not been resolved yet. This was despite the three major stakeholders - TNB, Petroliam Nasional Bhd and the government - have agreed to share the RM3 billion incurred between January 2010 and October 2011.
The reports said there was no plan yet on how to absorb the additional cost of burning distillates after that period. This would mean TNB had to continue burning distillates, which cost five times more than gas, from November 2011 until August 2012 when the regassification plant is ready in Malacca.
At 12.05pm, TNB was down 10 sen to RM5.87. There 1.07 million shares done at prices ranging from RM5.87 to RM5.97.
News reports said the problem of compensation for the burning of distillates following the severe gas shortage at TNB had not been resolved yet. This was despite the three major stakeholders - TNB, Petroliam Nasional Bhd and the government - have agreed to share the RM3 billion incurred between January 2010 and October 2011.
The reports said there was no plan yet on how to absorb the additional cost of burning distillates after that period. This would mean TNB had to continue burning distillates, which cost five times more than gas, from November 2011 until August 2012 when the regassification plant is ready in Malacca.
