Latest news with #AkmalNasrullahMohdNasir
The Star
an hour ago
- Business
- The Star
Dewan Rakyat passes Electricity Supply Bill and Energy Commission Bill
KUALA LUMPUR: The Dewan Rakyat has passed the Electricity Supply Bill (Amendment) 1990 and the Energy Commission (Amendment) Bill that aims to regulate the importation and exportation of electricity, as well as green attributes. The Electricity Supply Bill was passed via a voice vote after debates from 12 MPs from across the government and Opposition blocs. The Electricity Supply Bill, which involves 16 amendments to the Electricity Supply Act 1990 (Act 447), aims to regulate electricity importers and exporters. Winding up debates, Deputy Energy Transition and Water Transformation Minister Akmal Nasrullah Mohd Nasir said electricity exports will only proceed if there is an excess and secure supply domestically. 'Currently, our reserve margins are at optimum levels, ranging between 23% to 28%,' he said, adding that the priority will always be for domestic energy supplies. 'This ensures import and export activities do not affect our country's electricity supply,' he added. Akmal Nasrullah also said import and export activities will not affect electricity tariffs on domestic users in the peninsula as it is on a business-to-business basis. On the heavy penalties imposed, he said it is based on laws like the Strategic Trade Act 2010. 'We consider the electricity trade as strategic for the country. While it may seem heavy, the main goal is to prevent offences when it comes to licensing, imports and exports,' he said. Amendments on Act 477 include the insertion of Section 22D, which prohibits the importation of electricity or exportation of electricity without licence. Offenders can face a fine of up to RM30mil, imprisonment of at least 10 years, or both. Any licensed importer or exporter of electricity who, without lawful excuse, breaches any terms or conditions of their licence under Section 22D of Act 477 commits an offence and, upon conviction, may face a fine of up to RM5mil, imprisonment of up to three years, or both. Section 50c has also been amended to empower the Energy Commission to issue guidelines on the import, export and green attributes of renewable energy. Subsequently, the Energy Commission Bill, which aims to amend the Energy Commission Act 2001 (Act 610) to empower the Energy Commission to monitor the import and export of electricity, was passed after a debate by four MPs from both sides of the divide. 'This Bill is important to guarantee our energy security. We must also ensure that domestic needs are met,' added Akmal. The amendment on Act 610 will include the insertion of Section 14(1) to empower the Energy Commission to monitor the import and export and electricity.
The Sun
2 days ago
- Business
- The Sun
Efficient energy use in government buildings cuts costs
KUALA LUMPUR: Efficient energy use in government buildings can significantly lower utility costs and support Malaysia's sustainable energy transition, according to the Ministry of Energy Transition and Water Transformation (PETRA). The ministry highlighted this during a recent seminar aimed at promoting energy-saving practices among civil servants. The seminar, part of the Malaysia Energy Literacy Programme (MELP), focused on no-cost energy efficiency measures outlined in a directive issued by the Chief Secretary to the Government last April. Deputy Minister Akmal Nasrullah Mohd Nasir noted that government buildings, including offices, schools, and hospitals, are major energy consumers, with monthly electricity bills reaching RM260 million. 'Implementing no-cost energy efficiency measures could save the government three to five per cent in utility costs,' he said. Simple steps like setting air conditioning to at least 24°C and switching off unused lights and appliances were emphasised as effective, low-effort solutions. PETRA stated that such initiatives align with Malaysia MADANI's sustainability principles. The seminar saw participation from 150 representatives across 49 ministries and agencies, fostering collaboration on energy conservation. - Bernama
The Star
17-07-2025
- The Star
Power theft linked to crypto mining costs RM4.8bil in losses, says deputy minister
ALOR SETAR: Electricity theft linked to cryptocurrency mining activities has caused RM4.8bil in losses from 2018 to June this year, said Deputy Energy Transition and Water Transformation Minister. Akmal Nasrullah Mohd Nasir said the situation is alarming and calls for continuous enforcement to prevent further losses. "Since 2018, electricity theft involving cryptocurrency mining has cost RM4.8 billion. "We recorded 2,399 cases from 2023 to 2024 and this year alone, up to June, there have already been 1,800 cases,' he said. Akmal Nasrullah was speaking to reporters after a joint operation involving the Energy Commission, Tenaga Nasional Berhad and other agencies, targeting seven premises suspected of electricity theft here on Thursday (July 17). He said the surge in cases is driven by the rising value of bitcoin, which now exceeds RM500,000 per unit. "This creates challenges for enforcement, as more are willing to take the risk of stealing electricity for mining,' he said. On today's operation, Akmal Nasrullah said the seven premises were raided under Section 37(3) of the Electricity Supply Act 1990, with warrants obtained from the court. "Our focus is to stop electricity theft, and public cooperation is crucial. "If you see cables being connected illegally without going through the meter, report it,' he said. — Bernama
The Sun
17-07-2025
- The Sun
Bitcoin mining power theft costs Malaysia RM4.8 billion
ALOR SETAR: Electricity theft linked to illegal bitcoin mining has resulted in losses of RM4.8 billion from 2018 to June this year, according to Deputy Energy Transition and Water Transformation Minister Akmal Nasrullah Mohd Nasir. He described the situation as alarming, stressing the need for continuous enforcement to curb further financial damage. 'Since 2018, electricity theft involving illegal bitcoin mining has cost RM4.8 billion - a massive loss,' he said. Between 2023 and 2024, authorities recorded 2,399 cases, with 1,800 cases reported in the first half of this year alone. The surge in incidents is attributed to the rising value of bitcoin, now exceeding RM500,000 per unit. 'This creates challenges for enforcement, as more are willing to take the risk of stealing electricity for mining,' Akmal Nasrullah explained. He spoke to reporters after a joint operation involving the Energy Commission, Tenaga Nasional Berhad, and other agencies. Seven premises suspected of electricity theft were raided under Section 37(3) of the Electricity Supply Act 1990, with warrants obtained from the court. 'Our focus is to stop electricity theft, and public cooperation is crucial. If you see cables being connected illegally without going through the meter, report it,' he urged. - Bernama
New Straits Times
17-07-2025
- New Straits Times
Bitcoin miners stole RM4.8 billion in electricity since 2018, says deputy minister
ALOR STAR: Illegal bitcoin miners have stolen RM4.8 billion in electricity since 2018, said Deputy Energy Transition and Water Transformation Minister Akmal Nasrullah Mohd Nasir. He said the staggering figure highlighted the scale and persistence of such activities despite repeated crackdowns. "This is not a small number. We must step up efforts to tackle this issue," he said after joining a joint operation involving Tenaga Nasional Berhad (TNB), the Energy Commission (ST) and police today. Akmal Nasrullah said there had been a worrying surge in such cases in tandem with the soaring value of bitcoin. "In 2023, we recorded 2,399 cases. Up to June this year, we've already logged around 1,800 cases. This spike coincides with bitcoin's price breaching RM500,000 per coin," he said. Bitcoin is a popular cryptocurrency that is obtained either by purchasing them on the open market or using computers to solve complex algorithms that yield the digital currency. Running these computers is called mining and their vast computing power requires massive amounts of electricity. At a premises raided today, authorities found 80 mining machines operating around the clock, draining an estimated RM86,000 in electricity per month. Another location that had been raided eight times prior to today's operation unearthed 38 mining units illegaly drawing RM45,000 in electricity a month. "The last raid was in May, but they've resumed operations. This is the ninth time this location has been raided," Akmal said. Overall, the seven premises raided today were estimated to have stolen RM273,679 in electricity a month.
