The throttle position sensor tells the ECU what the position of your throttle pedal is (which of course would indicate how fast you are going), so yes, if the TPS is out of whack, it would give the wrong information to the ECU, which would make driveability an issue.
At least on the 1.6L engine, the voltage from the TPS runs from .5v to 5v, depending on the position of the pedal. P0122 would occur when that voltage is less than .2v. The first place to start would be to check your connections and wiring, of course, as your code is for low voltage. There is also a test that you could run, by clearing your codes, disconnecting the TPS connector and jumping the gray wire to the gray/red wire (assuming that wire colors are the same - the gray wire is the TPS signal that runs from .5v to 5v, and the grey/red is the 5v reference from the ECU). Then start the engine, and see what code comes back - if it’s now a p0123 (high voltage), then you’ve confirmed that the wiring and ECU are ok.
Note that a TPS that has moved out of calibration can also throw this code.

 

Thanks for the reply Bex. The code has become a permanent one which is not possible to be cleared by the code scanner. Whenever I erase the code, it says remaining and confirmed code.

 

Hmmm....I know that there are certain codes that will be erased and only come back after a number of drive cycles have been performed. Perhaps, if this is a code being set by a wiring fault that the ECU sees all the time, it prevents it from being cleared. What I might do is clear the code and disconnect the TPS connector, or jumper the wires as above, then clear the code and see if the same code comes back (it shouldn’t). Just a thought.

 

No, it would not go regardless of how many driving cycles Maybe it is already out of calibration!

 

Update: Today the car drives great like nothing has ever happened! The light for the code is still on.

 

Hmm....I guess that for some reason it can’t be erased from memory? A wiring problem perhaps, even though your scanner is trying to erase it? I don’t know - I’m only OBD1 (thankfully).

 

Update: I removed the throttle body from the intake manifold and I saw a lot of gunk inside. I cleaned it with the gasoline and WD-40. I also tried to clean the intake manifold as well. I brought the throttle body to the shop to cut the gaskets. After everything was clean, I put them back with the new gasket. Before I reconnected the TPS, MAF and the ISC. I used the probing needle to insert their pin dots at the connecting couples several times to make sure they connect properly. I turned on the key and started the engine and the check engine was on and the engine RPM shot up to 1500. So I shut down the engine and connect the OBD II scanner. It threw another code of P0122. After a few seconds, I erased the codes with the scanner. You know what happened! The codes went away! It is the first time that code went away and I start to drive around for a few miles to see if the code comes back. The car drives great. The code has never come back! I assume the original TPS has never failed. It was bad connection only. I think the problem is solved at the moment!

 

Glad that you finally got it sorted, and thanks for posting back. Connections and wiring can be as problematic as the sensors themselves. A good lesson...