Ernst & Young PLT senior executive director, strategy and transactions Normadiana Mansor said the new National Energy Policy launched in September 2022 is a comprehensive policy that sets the tone for the development of the country’s plan towards being a low-carbon nation by 2040.
Spelling out the challenges in achieving a strong energy policy, Normadiana said it would revolve around, among others, an effective implementation process of the initiatives identified in the NEP and specifying appropriate success indicators. Improved infrastructure is also needed as the lack of EV charging stations would potentially cause a bottleneck as affluent Malaysians switch to EVs in response to the country’s low-carbon aspiration.
The country is heavily dependent on natural gas, oil and coal as the main energy sources. Coal, for example, currently contributes about 24% of Malaysia’s energy production. The NEM 3.0 policy was designed to increase consumption of RE and to increase adoption among consumers. This policy is focused on the demand side of energy policy.
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