Malaysia's power consumption won't be jumping 4-5%: analyst

It will just be 2.9%, according to UOB KayHian.

Malaysia’s electricity consumption is expected to grow at a CAGR of 4-5% in the next five years but UOB KayHian forecasts a more conservative 2.9% over 2016-17 as consumer confidence remains weak this year.

Electricity demand for Peninsular Malaysia peaked in Apr 16 at 17,788MW as a result of extremely hot weather conditions arising from El Nino. "Thereafter, electricity demand normalised to 2.7% yoy growth in 4Q16 (FY16: +4% yoy). A 1% change in electricity demand growth will swing TNB’s FY17 net profit by 2.3%," UOB KayHian said.