PTT proposal to hike LNG charge accepted

[rooster59]

PTT proposal to hike LNG charge accepted

By THE NATION

 

 

The Energy Regulatory Commission (ERC) has accepted PTTLNG Limited's proposal to increase the commodity charge for liquified national gas (LNG), Khomkrit Tantrawanich, ERC secretary-general and spokesman, said.

 

 

PTTLNG proposed that the commodity charge be increased to Bt1.4217 per million BTU from the current rate of Bt0.481 per million BTU, which had been used from July 1, 2019 until June 30, 2020.

 

“The commission considered the proposal and approved the adjustment of LNG commodity charge up to Bt0.5382 per million BTU, to be effective from September 1 until December 31,” he said. “The new rate will be effective in practical terms the moment it passes the stakeholders’ hearing, after which the ERC will let PTTLNG officially announce the new rate.”

 

The stakeholders' hearing for the new commodity charge rate of PTTLNG will be held from August 27 until September 2, and can be viewed from the website: http://www.erc.or.th/

 

Currently PTTLNG is the only agency in Thailand allowed to store and transform natural gas into liquid form. Their terminal is located in Map Ta Phut Industrial Estate in Rayong.

 

PTTLNG will charge two parts for their service: Fixed cost at Bt18.35 per million BTU, which will be revised every 4-5 years, or by 2022 the soonest, and the commodity cost, which will be revised every year.

The ERC also reported that the price of natural gas that PTT Plc sells to industrial entrepreneurs had gone down continually this year.

 

“In January the price was Bt261.56 per million BTU, while the price in October is estimated at Bt213.92, in line with the global natural gas price, which could result in reducing the cost for domestic electricity generation,” he said.

 

Source: https://www.nationthailand.com/news/30393715

 

-- © Copyright The Nation Thailand 2020-08-29

 

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[bluesofa]

4 minutes ago, rooster59 said:

liquified national gas (LNG),

This is specifically a Thai product then?