The Energy Commission’s (ST) Automatic Fuel Adjustment (AFA) rate for November 2026 has been set at +3.60 sen per kWh, almost unchanged from +3.61 sen/kWh in October 2026.
According to Single Buyer, the AFA for November works out to a surcharge of RM562 million or 5.47 sen/kWh, up from RM391 million (3.61 sen/kWh) in October, mainly because of higher fuel prices. That’s the highest computed rate since July’s 5.55 sen/kWh.
Single Buyer says 34% of that, or RM192 million (1.87 sen/kWh), is offset with savings from the Energy Cost True-Up Adjustment (ECTUA) for July 2026, which reduces the surcharge to 3.60 sen/kWh or RM370 million, below the +4.27 sen/kWh that TNB projected for November a month ago. TNB’s figures show that the Kumpulan Wang Industri Elektrik (KWIE) fund subsidised the AFA by a total of RM435 million from May to August, with none since.
