Ministry of Energy orders negotiations between PTT and EGAT to reduce electricity prices

Bangkok, The Ministry of Energy has reiterated its efforts to find ways to manage electricity bills to impact the public as little as possible. It is currently discussing with the Energy Regulatory Commission (ERC) and negotiating with the Electricity Generating Authority of Thailand (EGAT) and PTT to reduce the burden of electricity bills during September-December 2024. Mr. Prasert Sinsukprasert, Permanent Secretary of the Ministry of Energy, addressed the concerns of the public and private sectors regarding the increase in electricity prices for the period of September - December 2024, saying that the Ministry of Energy is urgently seeking ways to reduce the burden of people's cost of living, which is a priority for the government. The Ministry of Energy will manage and coordinate all sectors. It will discuss with the Energy Regulatory Commission (ERC) to consider reducing the variable electricity price or "FT price", which the Deputy Prime Minister and Minister of Energy has given importance to and has o rdered relevant agencies to jointly manage electricity costs to alleviate the impact on the public. As for the news that Thailand's electricity bills are the most expensive in ASEAN, that is not true. Thailand's electricity bills are moderate. The news that Vietnam's electricity bills are much cheaper than Thailand's is because Vietnam uses a lot of electricity from hydropower, so the cost is cheaper. However, Vietnam has unstable electricity, and there are frequent power outages. Indonesia also uses coal, so the cost is cheaper. The Ministry of Energy must consider creating a balance between security and appropriate prices because, in addition to electricity being used in people's daily lives, electricity is also a major factor supporting the country's economic, trade, and investment drives. In the management process, the goal is to maintain a balance between taking care of the cost of living, taking care of quality, security, and stability so that they can coexist during a period when global energy prices are highly volatile. 'The Ministry of Energy understands the concerns of the public and private sector regarding the electricity bills for the period of September - December 2024 announced by the Energy Regulatory Commission (ERC). However, due to the high volatility of global energy prices, the Ministry of Energy must maintain a balance in terms of energy stability, the financial credibility of EGAT, and the people's cost of living. We will do our utmost to maintain this balance by finding ways to consider electricity bills that will have the least impact on the people. In the future, we will consider adjusting the PDP plan to make it more appropriate and listen to opinions from all sides to ensure that energy prices are appropriate and sustainable,' said Mr. Prasert. Source: Thai News Agency