Home ECONOMY Electricity Rates Fixed in Early 2024 for Non-Subsidized Customers in Indonesia

Electricity Rates Fixed in Early 2024 for Non-Subsidized Customers in Indonesia

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Electricity Rates Fixed in Early 2024 for Non-Subsidized Customers in Indonesia
PLN officer checking a household

Jakarta, Timerilis.com – The Ministry of Energy and Mineral Resources (ESDM) has decided to keep non-subsidized electricity rates the same for the first quarter of 2024. This move aims to help businesses stay competitive and keep prices affordable for the public. It also aims to control inflation.

Jisman P. Hutajulu, the Electricity Director General at ESDM, shared this news. “From January to March 2024, we will not change electricity rates. This will help businesses and manage inflation,” he said on Wednesday, December 27, 2023.

The government reviews electricity rates for non-subsidized customers every three months. They look at factors like the exchange rate, Indonesian Crude Price (ICP), inflation, and the Coal Reference Price (HBA). This follows the Ministerial Regulation ESDM Number 28 of 2016 jo. Ministerial Regulation of ESDM Number 8 of 2023.

For early 2024, the rates are based on data from August, September, and October 2023. The key figures are an exchange rate of Rp15,446.85/USD, an ICP of 86.49 USD/barrel, an inflation rate of 0.11%, and an HBA of 70 USD/ton.

The rates for 25 subsidized customer groups won’t change either. These groups include social services, poor households, small industries, and MSMEs.

Finally, Jisman highlighted the government’s expectation. He wants PLN to keep improving how they work and sell more electricity. But, they must also keep giving good service to the people.