PLN: Electricity rates will not increase until March 2024

PLN ensures the electricity rates will not increase in the first quarter of 2024 to maintain people's purchasing power and promote national economic growth.

JAKARTA -- The Indonesian electricity company, PT PLN, is ready to implement the government's decision not to increase electricity rates in the first quarter of 2024. PLN emphasized that the decision was made to maintain people's purchasing power and strengthen national economic growth.

With fixed electricity rates, PLN President Director Darmawan Prasodjo hopes that this policy will be able to encourage the competitiveness of the industrial sector and encourage economic growth in society. PLN will continue to be committed to providing optimal electricity services.

This policy, explained the Director of PLN, applies to 13 non-subsidized customers and 25 groups of subsidized customers. Despite global economic challenges and fluctuating commodity prices, PLN ensures that it continues to optimize efficient operational performance so that it continues to provide reliable electricity for the entire community.

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Director General of Electricity at the Ministry of Energy and Mineral Resources, Jisman P Hutajulu, said this policy was part of the government's efforts through the electricity sector to maintain the competitiveness of business actors, maintain people's purchasing power and maintain the inflation rate.

The macroeconomic parameters used by PLN for the performance of the first quarter of 2024 are the rupiah exchange rate against the US dollar of IDR 15,446.85/US dollar, Indonesian oil price (ICP) of 86.49 US dollars/barrel, inflation of 0.11 percent, and HBA amounting to 70 US dollars/ton according to the coal domestic market obligation (DMO) policy.