The sector is now facing a crisis where demand for energy commodities has exceeded supply and caused a volatility in terms of pricing, with global spot prices for natural gas and coal reaching their highest levels this year.
As economies begin to recover, countries which experience a long cold winter that depleted gas storage levels, have been left scrabbling to secure more supplies, compounding the impact on fuel and electricity around the world. Bloomberg said global coal supplies have fallen and there are shortages of coal in some markets as major coal producers, Colombia and Indonesia, have struggled with heavy rain, while mines elsewhere were closed due to the pandemic.
Its manpower minister, Tan See Leng, also has warned of electricity price hike in 2022 amid the"unprecedented storm” in the energy market.
Sembang la tariff naik... PRU coming
U don't see them reducing tariff when oil prices down to 'negative' lately