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Households, businesses to pay more for electricity from September as FT rate raised


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Thailand’s Energy Regulatory Commission (ERC) has decided to raise the FT (fuel tariff) for electricity for September through December by 68.66 satang per unit, which will bring the average rate for electricity to 4.72 baht per unit, to help ease the financial burden on the Electricity Generating Authority of Thailand (EGAT).

 

The ERC Office said in its Facebook post yesterday (Monday) that EGAT has shouldered the burden of increased production costs on behalf of consumers to the tune of about 83 billion baht.

 

It explained that the increase in the FT rate since last year is attributable to the increased dependence on liquefied natural gas (LNG), purchased in the spot market, to substitute for the supply of natural gas from the Gulf of Thailand and gas fields in Myanmar, which are fast depleting.

 

Full Story: https://www.thaipbsworld.com/households-businesses-to-pay-more-for-electricity-from-september-as-ft-rate-raised/

 

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6 minutes ago, MJCM said:

I thought it was stopped this increase by the PM a week ago?

Maybe they had another look at the funds?

Already threw a lot of subsidy during Covid and now Diesel fuel since months.

If I got it right the new Ft will be 0.9343 (0.2477 + 0.6866).

(0.2477 being the current value)

Average rate 4.72 Baht/unit is ~:

0.131 Euro

0.133 US Dollar

0.11 British Pound

 

 

Edited by KhunBENQ
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So businesses are not allowed to increase their product prices but the government can increase their prices? Well not supposed to do it. 😉

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3 hours ago, jacko45k said:

So did I. If this guy can't keep his promises, he should resign!

(That will be a first).

Yes ! Prayut did stop the rise from happening on August 1st, but now he is unable to stop this coming rise of 18 % on the cost of a Unit.

Dont forget, there was a 7 % increase back in May, making this 25 % so far this Year.

This massive ( relatively ) rise in Electricity is going to force the Inflation rate up even further.

At present the reported Inflation Rate is around 7 %, and this is going to add at least 2 % more on to that rate - and quickly.

Everything will rise in price from the Factory Gate as production costs will be greater.

Expect to pay more for your Beer, Food, Cars and everything else between from 1st September. And as the Inflation rises, then there will be a knock on into the Rental Market, with rents increasing.

There will also be a marked sharp increase in NPL Loans as the Borrowers are struggling now under a Debt Load which had the Household Debt increase by 13 % over the last Year, bringing the Household Debt to close on 100 % of GDP.

This Debt load is the reason the BOT cannot increase the borrowing rate to aid the control of Inflation, as any increases will throw Thousands into Debt.

This is something the Gov,t cannot accept as there will be Capital outflows and Stock sell offs in an Economy riddled with Toxic Debt.

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8 minutes ago, Cake Monster said:

And as the Inflation rises, then there will be a knock on into the Rental Market, with rents increasing.

Already happening, my new lease increased 15 percent just this month.

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1 minute ago, John Drake said:

Already happening, my new lease increased 15 percent just this month.

As the Landlords see their costs about to rise from Inflationary factors ( repair costs Etc ), then so Rents will increase to maintain their profits.

Whether 15 % on the Lease is justified, when its just the Electric that is increasing, who really knows, or is there a certain amount of Money added into the 15 % to compensate for the last 2 Years or so of declining Rental Rates.

I personally think the latter may apply.

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3 minutes ago, Cake Monster said:

As the Landlords see their costs about to rise from Inflationary factors ( repair costs Etc ), then so Rents will increase to maintain their profits.

Whether 15 % on the Lease is justified, when its just the Electric that is increasing, who really knows, or is there a certain amount of Money added into the 15 % to compensate for the last 2 Years or so of declining Rental Rates.

I personally think the latter may apply.

In my case, I know there were also some major repairs made to the house.

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4 hours ago, jcmj said:

So businesses are not allowed to increase their product prices but the government can increase their prices? Well not supposed to do it. 😉

This is what Corpocracy is all about - and practiced the world over.

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2 hours ago, Cake Monster said:

At present the reported Inflation Rate is around 7 %, and this is going to add at least 2 % more on to that rate - and quickly.

My case of beer went up nearly 10% recently and a service at my home by 25%.....and the Mrs complains every time she comes back from the market!

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1 hour ago, jacko45k said:

My case of beer went up nearly 10% recently and a service at my home by 25%.....and the Mrs complains every time she comes back from the market!

And after September 1st you can expect more of the same.

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When I'm in Thailand I always think the electricity is very cheap.  In the UK I pay 27.86p / ฿11.94 a KwH and my gas heating is 7.37p / ฿3.16 a KwH.  Goodness' knows what the prices will be next year though.  ฿4.72 / £0.11p a KwH really is cheap after all, and there's no VAT on it either (5% in the UK).

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1 hour ago, DiDiChok said:

฿4.72 / £0.11p a KwH really is cheap after all, and there's no VAT on it either (5% in the UK).

Why you say there is no VAT on it?

 

7% vat is added, just have a look at your electric bill


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Edited by MJCM
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Oh ****, you're quite right.  There's the 7% VAT on my bill and I got so engrossed with the UK bills I missed it.  As it's a 5/15 supply I can't complain as I've had the discounts and so on.

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23 hours ago, jacko45k said:

My case of beer went up nearly 10% recently and a service at my home by 25%.....and the Mrs complains every time she comes back from the market!

from a fellow beer drinker .i feel your pain 

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Just now, Harveyboy said:

from a fellow beer drinker .i feel your pain 

I might have to downgrade to Leo, oh the shame!

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On 8/18/2022 at 1:42 PM, jacko45k said:

I might have to downgrade to Leo, oh the shame!

no no not Leo ill get a Chang go fund me going for you .555

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14 hours ago, Harveyboy said:

no no not Leo ill get a Chang go fund me going for you .555

Could be worse...the dreaded Archa beer!

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9 hours ago, jacko45k said:

Could be worse...the dreaded Archa beer!

Find me a High tree and a rope Archa Nooooo

Edited by Harveyboy
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