PUTRAJAYA, June 20 -- More than 23.6 million domestic electricity users in Peninsular Malaysia are set to benefit from fairer and more progressive rates under a newly approved tariff structure that will come into effect from July 1.

The new electricity tariff, which will run until December 31, 2027, falls under the Fourth Regulatory Period (RP4) of the Incentive-Based Regulation framework governed by the Electricity Supply Act 1990.

"The tariff revision involves a restructuring of the average base tariff rate, a new tariff schedule, and a revamped fuel cost adjustment mechanism," the Energy Commission said in a statement here.

The average base tariff has been revised to 45.40 sen/kWh, slightly lower than the 45.62 sen/kWh approved in D...