FTI joins with PEA to create pilot platform for clean energy trading

There is no denying that the era of clean energy is coming. The almost daily rise in the price of energy is expected to stimulate Thai society to use more clean energy.

The Federation of Thai Industries (FTI) has addressed this trend for clean energy by joining with other organisations to launch a project that has been well-received worldwide. FTI, as the representative of private industry, joined hands with the Provincial Electricity Authority (PEA) to sign a memorandum of agreement on a pilot project to develop renewable energy and carbon credits on March 14.

The resulting renewable energy trading platform will run under the second phase of the Energy Regulatory Commission (ERC)’s sandbox programme. The ERC launched the programme to test various energy-related innovations.

The clean energy and carbon credit trading platform will be a key tool for making electricity trading contracts, to support the upcoming carbon credit market in the industrial sector. PEA will have a hand in delivering energy to purchasers, which will see more renewable energy sent to the manufacturing sector.

The initiative is in line with Thailand’s new energy policy and goal to reach carbon neutrality by 2050 and net-zero emissions by 2065.

This collaboration between the government and private sector to create the clean energy and carbon credit trading platform will help to encourage renewable energy development in the Thai industrial sector. If the plan is successful, the renewable energy platform will open to the whole country within two years, which will be a key step on the path to Thailand becoming a low carbon society.