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Tuesday, October 4, 2022

Thailand is powerless to discount rising electricity prices

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Thailand is powerless to discount rising electricity prices

During this morning’s meeting, the cabinet did not consider emergency measures for household electricity users, a source from the government building revealed.

The contingency plan was not tabled despite an earlier government commitment to mitigate the effects of rising fuel prices. However, the source speculated that measures to ease energy bills would be discussed at the cabinet meeting next week.

Last week, Energy Minister Supattanapong Punmeechaow said the Energy Policy Administrative Commission, which he chairs, saw rebates for household electricity users amid record increases in electricity costs.

Over the next four months, the price of electricity is expected to rise from 4 baht per unit to a record high of 4.72 baht.

The rebates, which are expected to apply from September to December, will cut electricity bills for households using less than 500 units per month by 15 to 75 percent.

Households that consume less than 300 units per month will receive a discount of 0.9204 baht per unit, equivalent to the average fuel tariff (Ft) imposed this year.

The Ft is reviewed every four months, in January, May and September, by the Energy Regulatory Commission, the ERC, which adjusts the value to reflect the true cost of generating electricity.

Supattanapong estimated that the cuts will cost the government about 2 billion baht per month or 8 billion baht over the four months.

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