Malaysian Government to Reactivate MyPower As Part Of Industry Reforms

KUALA LUMPUR, Sept 18 (Bernama) -- The Malaysian government will reactivate special purpose agency MyPower for three years as part of the Malaysia Energy Supply Industry (MESI) 2.0. MyPower Corp stands for Malaysia Programme Office for Power Electricity Reform, an independent company limited by guarantee to be set up under the ministry to design and drive implementation of this reform programme. Energy, Technology, Science, Climate Change and Environment Minister Yeo Bee Yin said MESI 2.0 aims to accomplish three agendas -- to increase industry efficiency, future-proof the industry structure, regulations and key processes as well as empower consumers, democratise and decentralise the electricity supply industry. “We would also come out with a series of reforms, such as MESI 3.0 and so on, and continuously have meetings to determine what would be the agenda for each reform,” she told a press conference after officiating the Conference of the Electric Power Supply Industry (Cepsi) 2018 on Tuesday. She said the government is confident that Malaysia’s electricity supply industry transformation programme in areas such as future generation, which includes green energy and electric energy efficiency and grid for the future, would enhance the customer experience as well as propel the country forward. She said MyPower, with between 12 to 20 employees, is tasked with engaging with industry players as well as stakeholders for the industry reforms, and the company is expected to close once it completes its mission. “This is an agency that will be closed in three years so they have 36 months of mandate to drive, implement and close shop,” she said. The three-day conference, themed “Reimagining utility of the future”, has attracted 2,000 participants and 4,500 trade investors. On renewable energy, Yeo said the ministry is aiming for 20 per cent renewable energy in the generation mix by 2030. “We believe that renewable energy is in the present, and although we have not reached great parity in electricity storage together with the technology, we believe in a very short time that we will reach great parity. “That means, early adoption of renewable energy will help us and help the industry to be more competitive and help us to be a first mover in the region, and hopefully will be able to not only supply electricity in Malaysia but our companies will be empowered also to go on to do business outside of Malaysia,” Yeo explained. -- BERNAMA