The Imbalance Cost Pass Through (ICPT) mainly functions as a mechanism to evaluate the electricity rate every six months to account for changing fuel prices, which make up 65% of the cost component of the electricity tariff. This new ICPT surcharge for the second half of 2023 was based on fuel prices in the first half of 2023 because it is changed every six months depending on the six months prior to it.
The new ICPT programme for the second half of 2023 may require EV users to pay more to charge their cars at home. An RM0.10 per kWh tax will be applied to bills that use more than 1,500 kWh per month, which is an increase from the RM0.02 rebate that was previously given.
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