for industrial and commercial customers by an average 26% effective 1 July.

However, Tenaga said the increases were still not enough to fully recoup rising feedstock costs for fuel, gas and coal.

In response to rising energy costs on the world markets, the government has sharply raised domestic gasoline, diesel, gas and power prices and slashing fuel subsidies.

The government said it can no longer afford to continue increasing fuel subsidies which are on track to reach RM56 billion this year as crude oil price remain well above US$130 a barrel.