Even the surrogate parent for the birth of the IPPs, Dr M has come out to call for a review of the PPAs because the huge power reserves, which means unutilised power, posed a heavy burden to TNB. Needless to say, what's bad for TNB is bad for consumers and the country.
This is the downside to rent-seeking arrangements endemic during the 1980s and 1990s privatisation drive.
In the mean time, the news is that with effect from March 1, electricity tariffs for households will be reduced by 2.54%. Commercial rates will be reduced by 2.7% while industrial rates will fall by 5%. I guess beggars can't be choosers in this economic climate.
Be that as it may, I still maintain that the IPPs should be nationalised.