Tuesday, August 04, 2020

Energy minister comes up with plan to spark economy

Jun 25. 2020
Energy Minister Sontirat Sontijirawong
Energy Minister Sontirat Sontijirawong
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By The Nation

Energy Minister Sontirat Sontijirawong has come up with a plan to help mitigate the impact of Covid-19 and plans to propose it to Deputy Prime Minister Wissanu Krea-ngam on Thursday (June 25).

Sontirat said this plan will help accelerate investments, such as community power plants to stimulate the grassroots economy, promote the country as a liquefied petroleum gas (LPG) trading centre among others. He added that this plan should generate more than Bt100 billion in revenue.

“Energy-related agencies, such as PTT and the Electricity Generating Authority of Thailand [Egat] will also see if they have any plans to mitigate the impact of Covid-19,” he said, adding that the fuel fund management committee had agreed to maintain the price of LPG at Bt318 per 15-kilogram tank until September 30.

“The price of LPG this year is expected to rise to US$400 per tonne from its current price of $340 per tonne due to rising demand,” he said.

“The price of crude oil this year is also expected to move between $40 and $50 per barrel after it bottomed out at $20 per barrel in April. This will also cause the retail price of fuel to rise in the country.”

However, he said, he still needs to monitor the Covid-19 situation worldwide, decisions made by Opec, United States’ moves to resume oil production and the US-China trade war and see if these factors affect the price of crude oil.

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