Thailand’s Energy Policy Committee (EPC) has decided to freeze the retail price of liquefied petroleum gas (LPG) for household use for three months, in order to ease the financial burden on people during the COVID-19 pandemic.
The committee also ordered the Energy Business Regulator to revise the forecast profits of the Electricity Generating Authority of Thailand (EGAT), the Metropolitan Electricity Authority (MEA) and the Provincial Electricity Authority (PEA) vis-à-vis their investments, noting that their 5-6% forecast profit margins may no longer be relevant in the current economic situation.
The Office of Energy Policy and Planning and EGAT were also instructed to maintain generation capacity at levels which support a reduction of energy production costs.
The EPC also approved the new calculation of the ex-factory B7 high-speed diesel price, which will cut the it by 0.051 baht/litre and encourage oil traders to increase the use of palm oil in the production of B10 bio-diesel, which will help oil palm farmers.
The ex-factory price of LPG for household use is 14.37 baht/kg, excluding VAT, or 318 baht per 15kg tank.
The 3 month price freeze for will cost about 10 billion baht, to be subsidized by the Oil Fund.
