0713 GMT - Higher gas and coal costs amid the Iran conflict could be earnings neutral for Tenaga Nasional's transmission and distribution business, TA Securities analyst Hafriz Hezry says in a note. That's because costs are passed on to consumers monthly through an automatic adjustment mechanism, which applies to changes of up to 10%, beyond which ministerial approval is required, he says. The power generation arm's coal-fired plants could benefit from positive fuel margins, as higher fuel costs can be passed on to end users. This allows operators to maintain margins if coal is secured earlier at lower prices. TA Securities maintains a buy rating on Tenaga and keeps its target price at 18.00 ringgit. Shares are 0.6% higher at 14.18 ringgit. (yingxian.wong@wsj.com)

(END) Dow Jones Newswires

March 30, 2026 03:13 ET (07:13 GMT)

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