Auction scrap will wipe out Bt200 bn royalty fee: Piyasvasti
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Thailand stands to lose Bt200 billion per annum if the new round of petroleum exploration auction is scrapped, PTT chairman warned.
Piyasvasti Amranand said today that the new round could generate Bt200 billion per annum in royalty fee to the country.
Referring to a civic group's call for the cancellation of the auction, he said Thailand would then need to pay for energy imports and this would immediately drive up electricity charges by 50 per cent.
He noted that if bunker oil is used to generate electricity in lieu of natural gas, the electricity charges would rise by 30 per cent.
