energy future. Regionally, we look forward to our collaboration with Laos’ utility service provider, Electricite du Lao (EDL), which opens new possibilities for cross-border electricity trade within ASEAN. On the regulatory front, as we move closer to the Regulatory Period 4 (RP4) 2025-2027, TNB’s overarching goal is to continue supporting our customers’ energy needs and facilitating Malaysia’s Energy Transition. In this context, TNB is stepping up once again with significant CAPEX to maintain security of supply, meet the projected electricity demand growth of 1.6-4.3% and facilitate the Energy Transition. We aim to allocate a larger proportion of the CAPEX (compared to the previous year) for ET-related spending. Regarding the tariff structure, TNB is supportive of tariff reforms that ensure electricity costs are appropriately reflected on a fair and equitablebasis, delivering positive results for the industry over the long term. While 2023 was the year when ET really got started in Malaysia, 2024 and beyond are when we execute in earnest the exciting programmes within NETR. Indeed, TNB is perfectly primed to benefit from all the opportunities offered by NETR for we are fully committed to ensuring Malaysia achieves its ambitions. With TNB leading the charge, we are confident that we can facilitate the nation to achieving its energy transition goals, fostering a sustainable, resilient, and prosperous future for all. CEO’S STRATEGIC & OPERATIONAL REVIEW DATUK IR. MEGAT JALALUDDIN BIN MEGAT HASSAN President/Chief Executive Officer TNB’s resilient and innovative grid system powers Malaysia’s growing energy demands, shaping the future of electricity. TENAGA NASIONAL BERHAD Integrated Annual Report 2023 38 ACHIEVING OUR STRATEGIC AMBITIONS OVERVIEW In 2023, TNB produced a total of 95,203GWh of electricity, of which 79,355GWh was generated from coal and gas sources and 7,903GWh from renewable energy sources. T otal renewable energy (RE) made up 8.3% of the total electricity sent out in 2023, a slight decrease from the