EV owners may have to pay more to charge their electric cars at home as the new ICPT scheme for the second half of 2023 has been announced. Bills with more than 1,500 kWh a month of usage will receive a surcharge of RM0.10 per kWh, a total net movement of RM0.12 compared to the RM0.02 rebate received previously.
We typically use the RM0.571 rate because EVs are generally expensive items that are used in households that have residential electricity usage above the 901 kWh range monthly, in which the highest residential tariff applies. According to the government, the average fuel cost for the 1H 2023 period was USD173.50 per metric tonne, reduced from USD224 per metric tonne in 2H 2022 which was used to calculate the previous ICPT rate.
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