KUALA LUMPUR: Energy Transition and Water Transformation Minister Datuk Seri Fadillah Yusof will present a proposal to the board of trustees of the Electricity Supplies Industry Trust Account (AAIBE) to allocate part of its contributions to incentivising industry players.
"One of the board's key roles was research and development, and it would review the proposal for potential contributions to renewable energy initiatives, including energy storage.
"The board will assess if the proposed focus areas align with our efforts to expand renewable energy. After discussions, I will consider their feedback," he told the Dewan Rakyat today.
He was responding to a question from Yeo Bee Yin (PH-Puchong), who asked whether the government would consider using a portion of the AAIBE contributions to incentivise industry players and encourage investment in energy storage.
Fadillah said as of Sept 30, the current balance of AAIBE stood at RM866,686,747.66.
Of this, he said, RM606.93 million was invested in fixed assets, while RM147.87 million was allocated for committed projects.
Regarding outstanding arrears from independent power producers (IPPs) for the period 2018 to 2021, RM442 million remains due, he added.
However, RM374 million has been paid, and RM68 million is in the process of payment.
Fadillah also assured that the ministry was closely monitoring the situation and is working with power generation companies to ensure all arrears and contributions are settled promptly.