Energy giants make adjustments to cope with the new normal post-Covid-19

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Energy giants make adjustments to cope with the new normal post-Covid-19

By THE NATION

 

 

Energy organisations have modified their operations for the ‘new normal’, after Covid-19 changed the situation in Thai energy sector.

 

The virus outbreak led to a nationwide lockdown, slashing oil and electricity usage by around 20 and 10 per cent, respectively. Moreover, total backup electricity that time increased to around 37 to 40 per cent of normal level.

 

This situation had huge ramifications for the energy sector of the country, prompting relevant organisations to improve themselves to survive in the post-coronavirus era.

 

The Electricity Generating Authority of Thailand said that it had created a digital power plant and digital substation to assure quality electricity service to the people.

 

PTT has implemented its 4R strategy to tackle the situation in the oil market, which was affected by Covid-19.

 

The 4Rs stand for resilience, restart, reimagination, and reform. The main idea behind this strategy consisted of managing the finances amid the crisis, to resume its operations to normal level as fast as possible, to replan its business structure to serve future situations, and to improve PTT's organisational structure.

 

Buranin Rattanasombat, PTT senior executive vice president of downstream business group alignment holding, added that his organisation has applied artificial intelligence in its operations.

 

He explained that this technology had been brought to save the cost of synergy, while, in trading, it was for trade matching, estimating a balance of demand and supply.

 

Global Power Synergy said that Covid-19 had increased the usage of renewable energy in the system, predicting that this kind of energy would be more in demand in the future.

 

Therefore, the company has constructed plants for semi-solid flow battery in Rayong’s Maptaphut Industrial Terminal.

 

Sirimet Leepagorn, the executive vice president of corporate strategy and subsidiary management, explained that this project would create stability for more renewable energy produced in future.

 

He added that these plants would reduce the construction of electricity-generating plants and at the same time back up energy in the system.

 

Source: https://www.nationthailand.com/news/30394850

 

-- © Copyright The Nation Thailand 2020-09-21

 

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[Thingamabob]

In other words, they're going to fire a lot of people.

[Grumpy John]

A lot of sweet talk but the cake is getting smaller and the shareholders after getting nervous.