On January 10, 2020, Deputy Prime Minister Somkid Jatusripitak revealed after visiting and providing operational policy guidance to the Electricity Generating Authority of Thailand (EGAT) on January 9, 2020, that he has instructed EGAT and related agencies in the Ministry of Energy to find ways to manage electricity costs to avoid burdening the public during a time of global economic downturn, particularly for low-income individuals and small businesses (micro SMEs), which should be given special attention for increased support.

            "The situation of tension in the Middle East has had an impact that could affect oil prices and electricity costs for the public, so we need to address this issue first. At the same time, the Thai baht is currently strengthening, so I have instructed EGAT to invest more without delay, as the 2020 budget has not yet passed through the parliament. Additionally, we are beginning to face drought issues that affect agricultural production, so state enterprises are seen as a key player in investment to stimulate the economy," said Mr. Somkid.

            During discussions with executives, a vision was presented showing that EGAT has transitioned from traditional business to future energy business, focusing on innovations that can expand business significantly. Electricity is fundamental to stability, and EGAT is looking towards future business opportunities in the CLMV countries, leveraging strength to apply technology to consumers, enabling competition with other countries. This includes a focus on future industries that EGAT prioritizes, such as renewable energy, electric vehicles (EVs), and batteries. While EVs represent the future, a lack of charging stations could hinder progress, so EGAT has been tasked with finding partners to venture into this business.

            Energy Minister Sontirat Sontijirawong stated that Mr. Somkid has instructed EGAT to manage electricity costs to avoid a uniform price across the country, allowing for diverse rates, especially for low-income groups and micro SMEs, to ensure fair energy costs. Therefore, discussions with relevant agencies will continue, looking to connect with the state welfare card, which is already a mechanism to assist low-income individuals. Currently, the card supports electricity users consuming no more than 50 units, so new approaches will be sought to ensure the greatest fairness.

            EGAT Governor Viboon Raksirathai stated that for EGAT's investment in 2020, a budget of 36 billion baht has been prepared, which cannot be increased as it is for projects approved since last year. However, they will expedite investments during this period of a strong baht and will accelerate investments in 2021 with a budget of 40 billion baht, which will include investments in transmission lines and two power plants: Nakhon Tai Power Plant and Bang Pakong Power Plant.

            Additionally, EGAT has prepared an investment budget of another 300 billion baht for the construction of eight major power plants, expected to start supplying power to the system (COD) from 2025 to 2029, including the Nam Phong Power Plant and Surat Thani 2 units, to ensure stability in the southern region. This investment must be submitted for approval at the Cabinet meeting soon, and it is expected that the investment budget can be disbursed starting in 2023.

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