of the RP4 proposal: Delivering for our customers and Facilitating the Energy Transition. These objectives emphasise TNB’s commitment to ensuring a stable and secure electricity supply while also supporting Malaysia’s ambitious goals for a sustainable energy future. TNB’s dedication to these objectives is evident in its efforts to foster the integration of renewable generation, expand consumer choices, and address the challenges across the electricity supply value chain. Moreover, the RP4 proposal is crafted to harmonise six key objectives, ensuring a holistic approach that delivers comprehensive benefits to the nation. These objectives are: As TNB embarks on this crucial journey, 2024 is designated as the negotiation period for RP4. During this time, TNB will engage in close collaboration with Suruhanjaya Tenaga and relevant ministries to refine and finalise the proposal.This collaborative effort underscores TNB’s role in steering Malaysia towards its net zero ambitions and ensuring that the energy sector remains resilient, sustainable, and aligned with national and global energy goals. Improve Sustainability: Accelerating Malaysia’s ET by strengthening the grid and providing access to green electricity. Maintain Security of Supply: Ensuring a reliable supply of electricity to support the growth of new industries and demand. Balance Affordability: Implementing tariff redesigns to ensure a fair distribution of costs while protecting vulnerable segments of the population. Enhance Customer Empowerment: Enabling customers to participate in the green economy through expanded offerings and digital experiences. Spur Socio-economic Development: Driving significant Gross Domestic Product impact, job creation, and social impact projects through TNB’s investments. Enhance Transparency of Price: Increase transparency of price signals through efficient cost-recovery across supply-chain risks and floating generation tariff. TENAGA NASIONAL BERHAD Integrated Annual Report 2023 50 THE MARKET LANDSCAPE With the COVID-19