KUALA LUMPUR (Oct 2): Tenaga Nasional Bhd (TNB) said its over seven million domestic and residential customers will continue to enjoy monthly electricity bill discounts of up to 50% under the Prihatin Rakyat Economic Stimulus Package, which has been extended until Dec 31, 2020.

In an announcement yesterday, the Malaysian government-controlled utility said discount rates given to domestic and residential customers will be determined based on their monthly electricity consumption at a time when the nation is still struggling to curb the spread of the Covid-19 pandemic.

"Beyond that, TNB will continue implementing several measures to ease the burdens on domestic/residential customers in light of these trying times," TNB said.

According to the company, the measures include an easy-payment plan, which involves the option to pay bills in instalments without additional surcharge.

"(The measures include) waiver of late-payment surcharges (effective from March 18, 2020 till Dec 31, 2020) and no disconnection of electricity supply.

"During this period, disconnection of electricity supply will only be done in the following scenarios: Request by registered customers, instructions from relevant authorities (and) cases where meter tampering is observed," TNB said.

On Bursa Malaysia today, FBM KLCI component TNB rose two sen or 0.19% to RM10.40 at 10:53am for a market value of about RM59.21 billion. Some 900,000 shares were traded.

TNB's share price erased losses after falling to its lowest so far today at RM10.20.