KUALA LUMPUR, May 5 (Bernama) -- Utilities giant, Tenaga Nasional Bhd's share prices rose 25 sen to RM8.80 at mid morning on expectations of new electricity tariffs likely to be introduced next month.

Energy, Water and Communications minister, Datuk Seri Dr Lim Keng Yaik said he expects to propose the new rates to the Cabinet within the next two weeks.

The minister said the proposal for new rates were unavoidable due to the spiralling cost of crude oil to generate power.

However, the minister gave an assurance that the lower income group would not be adversely affected by any power rates hike.

Crude oil prices have been skyrocketing of late with the price in New York closing just under US$70 per barrel last night.

A few days ago, it was trading at a historical high of US$75.