Thailand’s Energy Ministry announced plans to maintain the power tariff at no more than 4.18 baht per unit until April 2025, extending a policy aimed at stabilizing electricity costs for consumers. Energy Minister Pirapan Salirathavibhaga confirmed the decision on Monday, noting that the tariff cap has been in place for nearly a year.
The current 4.18-baht rate, set by the Energy Regulatory Commission, was initially slated to expire at the end of 2024. The extension reflects the government’s effort to manage energy prices amidst fluctuating global fuel markets. Gas prices, which account for almost 60% of Thailand’s electricity generation fuel mix, are a significant determinant of the power tariff.
The Electricity Generating Authority of Thailand (Egat) has projected stable prices for liquefied natural gas (LNG) into early 2025. “We estimate LNG prices in early 2025 will remain consistent with the current rate of $3-14 per million British thermal units in the spot market,” said Egat Governor Thepparat Theppitak.
The policy underscores Thailand’s approach to shielding its economy from volatile energy costs, ensuring affordable electricity for households and businesses.
