The Electricity Generating Authority of Thailand (EGAT) is expected to announce a new energy price structure, which is known as the “Utility Green Tariff” (UGT), at year end or early next year, in the hope that it will attract multinational corporations to invest in renewable energy mega projects in Thailand.

Warit Rattanachuen, EGAT’s assistant governor for research, innovations and business development, said at a recent seminar on “Road to Net Zero” that several countries have resorted to tax measures on businesses to encourage them to reduce their greenhouse emissions.

He said EGAT has cooperated with the Board of Investment, the Metropolitan Electricity Authority and Provincial Electricity Authority and had gauged the opinions of several potential major investors about investing in renewable energy projects in Thailand and the energy price structure.

Warit said that they have been working on a new price structure for renewable energy, expected to be announced at the end of the year or early next year, adding that EGAT must have a reliable source of renewable energy and modernise its grid system, to accommodate various types of renewable energy, such as wind, solar and biomass, in order to be eligible for green energy rights.

He disclosed that several leading corporations have formed an association, called “Renewable Energy 100”, or RE100, aimed at getting the world’s most influential businesses, especially those with annual electricity demand of over 100GWh, to commit to using 100% renewable electricity by 2050.

He said EGAT has been cooperating with several agencies to cut carbon dioxide emissions, but there is still a long way to go to get it down to zero, adding that the short-term solution is to plant another 160,000 hectares of trees to absorb carbon dioxide.