Energy Saving News
Energy Efficiency Aim Due To Price Hikes
Many countries face serious energy price increases over the next few years, but this threat is helping to focus business leaders minds on becoming more energy efficient to protect their profitability.
Reportedly one of the latest nations to worry over increasing energy prices is Malaysia, this has led commerce and industry there to take steps to save energy to offset the expected price hikes.
The worry over energy prices in Malaysia has led to many businesses investing in energy saving technology, with a 20% increase in orders for energy efficiency solutions during the last quarter of 2009.
In the region only Vietnam and Indonesia have cheaper energy, but Malaysia are due a tariff review as international prices of gas and coal look certain to rise. Since November 2009 prices in Malaysia have increased by 74% for natural gas with coal prices going up 17%.
With other nations in Asia currently enduring record cold spells fears are that energy price rises will be even higher than previously anticipated.
AmResearch analyst Alex Goh stated:
“Although there has been no Cabinet decision for now, Tenaga Nasional Bhd’s (Malaysia's main energy provider) electricity tariffs will nevertheless be reviewed again in January-February given the Government’s bi-annual energy review policy.”
Hence a silver lining to the cloud of energy price increases is more awareness of energy saving and the means to achieve those savings.
Tuesday 12th January 2010
