Power play

TENAGA Nasional Berhad (TNB) has big ambitions. It is reimagining itself to be among the top 10 utilities in the world by 2025. Not bad for a homegrown powerhouse that will be 70 years old next month. The reason for reimagining TNB: the utility world — power generation, transmission and distribution — is changing around the globe. Malaysia may not be spared. TNB may end up having three entities — one each for making, distributing and selling power. This is not unlike what has been happening in Europe where traditional business models are giving way to new ones. As one utility company chief executive officer there put it to the Financial Times on Feb 28, each part of the energy market is in…