MONDAY, April 15, 2024
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FTI, private sector anticipate no increase in power bills

FTI, private sector anticipate no increase in power bills

The private sector is confident that electricity bills for the upcoming billing period will not exceed 3.99 baht per unit, despite the Energy Regulatory Commission's (ERC) approval to raise it to nearly 5 baht.

On Wednesday, the ERC agreed to an increase in the fuel tariff (FT) for electricity generation, resulting in a new power rate of 4.68 baht per unit starting in January.

The approved FT rate for January to April is 89.55 satang (one baht equals 100 satang), leading to a 69.07 satang per unit increase in the current electricity rate.

The ERC justified the FT rate hike by considering its impact on the public. It explained that failure to raise the FT to cover rising costs could jeopardise energy security and the services provided by the Electricity Generating Authority of Thailand.

Isares Rattanadilok Na Phuket, vice chairman of the Federation of Thai Industries (FTI), noted that the newly announced electricity rates align with the ERC’s responsibilities but added that those in charge of policy direction would not definitively choose this path. He pointed to a need to adjust and reduce various costs, as previously proposed by the private sector. For instance, the allocation of natural gas in the Gulf of Thailand should be equitable, with no business group benefitting more than the public. Additionally, the approach to debt payment by the Electricity Generating Authority of Thailand (EGAT) should be reconsidered.

The final decision on the electricity price from the policy side is awaited but it is believed that the new rate will not exceed the current electricity price of 3.99 baht per unit.

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