Malaysian Electricity Supply Industries Trust Account (MESITA)
Akaun Amanah Industri Bekalan Elektrik (AAIBE) or Malaysian Electricity Supply Industries Trust Account (MESITA) was formed under Section 9 (3) of the Financial Procedure Act 1957, via a trust deed on 1 January 1997. It was officially launched in July 1997. The contributors to the fund are the power generating companies i.e. TNB Generation Sdn. Bhd. and Independent Power Producers (IPPs) in Peninsular Malaysia comprising Genting Sanyen Power Sdn. Bhd., Port Dickson Power Bhd., Powertek Bhd., Segari Energy Venture Sdn. and YTL Power Generation Sdn. Bhd. Their contribution is voluntary and they contribute one percent (1%) of their electricity sale (their total annual audited turnover) to the Peninsular Grid or the transmission network to the fund.
AAIBE is used in the following areas:
* Rural Electrification Programme;
* R&D Programmes and New Renewable sources of energy projects;
* Human resource development programmes for the industry;
* Energy efficiency projects;
* Development and promotion of the electricity supply industry;
* Advance For Projects Approved by Trustee of Electricity Trust Fund.
A special committee called the Electricity Supply Industries Trust Account Committee (Jawatankuasa Akaun Amanah Industri Bekalan Elektrik - JAAIBE) manages the trust account. The Committee comprises representatives from:
* The Economic Planning Unit, Prime Minister's Department
* Ministry of Energy, Green Technology And Water
* Energy Commission
* Ministry of Finance
* Ministry of Rural Development
* Tenaga Nasional Berhad (TNB);
* Six electricity generating companies (Independent Power Producers- IPPs).
The Committee is chaired by the Secretary General, Ministry of Energy, Green Technology and Water. A Technical Committee has also been set up to assist the JAAIBE in evaluating applications for funding from the trust account.