Energy, Green Technology, Science and Climate Change Minister, Yeo Bee Yin has a plan to disrupt the power industry, where a few players control lucrative contracts. She wants to use technology and innovations to change the ways things are done so that more players can benefit. She is also pushing renewable energy to reduce the country's dependence on fossil fuels.

Yeo warns of disruptions ahead in the power industry. In other words, the independent power producers are facing a vastly different reality moving forward. Gone are the days of easy money.

“I would say that in the next five to ten years, the electricity industry will no longer be that boring. It will be disrupted and I think we will also see an increase in the pie because of the EV uptick,” Yeo tells The Edge in an interview.

Yeo is not limiting disruption to the power generation segment. Indeed, she is looking at improving efficiency across the supply chain, including transmission and distribution, which are currently controlled by Tenaga Nasional Bhd.

The minister has stated unequivocally that future power-generation projects will only be awarded through open tender, where bidders will have to compete on different fronts.

The previous administration had promised the same but it did not manage to take the path that would have improved efficiency and delivered cost savings. Will the current government have the stronger political will to reform the contract award system?

To this, Yeo says "Let us show by our actions ... in three years, you will see the tenders that we award."

For more details on Yeo's ambitious plan to reform the energy industry, pick up the latest issue of The Edge.