Pheu Thai to knock back skyrocketing electricity costs hitting business with a 21% rise in 2023

[webfact]

The Chairman of the Pheu Thai Party policy committee, Mr Prommin Lertsuridejm made the statement on Thursday as energy officials confirmed a 21% hike in electricity costs for businesses to come into effect in January 2023.

The business sector, in recent months, is expressing higher confidence with the return of foreign tourism at critical levels but is expecting to be left reeling by a 21% hike in electricity tariffs due to kick in from January 2023 at the same time as interest rates are rising with supplies and other costs all on the up. It comes as energy officials juggle the books with a bill of ฿122 billion still owed to the Electricity Generating Authority of Thailand (EGAT) and which must be paired down.

Pheu Thai has promised to immediately correct rising electricity costs due to hit business and industry in January if the main opposition party forms a government after next year’s General Election. This news comes as Kriengkrai Thiennukul, Chairman of the Federation of Thai Industries (FTI), has criticised the government’s approach in prioritising the freezing of residential power costs after a 21% hike in tariffs was confirmed this week by energy officials for the business sector as they desperately try to juggle the costs and protect the Thai economy from the same sort of energy price shocks that have been seen in Europe, the United Kingdom and other western countries this year. 

 

Pheu Thai has promised to act immediately to bring down spiralling electricity costs if it is elected to form a government after the 2023 General Election.

 

Full story: https://www.thaiexaminer.com/thai-news-foreigners/2022/12/15/pheu-thai-to-cut-sky-high-electricity-bills/

 

-- © Copyright Thai Examiner 2022-12-16

 

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[alyx]

Why such a hike ? I would have thought that Thailand would not be that affected, unlike European countries (not sure about South and North Americas)

[Crossy]

41 minutes ago, alyx said:

Why such a hike ? I would have thought that Thailand would not be that affected, unlike European countries (not sure about South and North Americas)

 

The major fuel sources, LNG, oil and coal, are in a global market, pretty much one price for all (over simplified, but you get the idea).

 

[matchar]

2 hours ago, alyx said:

Why such a hike ? I would have thought that Thailand would not be that affected, unlike European countries (not sure about South and North Americas)

It's because they kicked out Chevron from the Erawan gas field so PTT could take over.

 

But then they tried to shaft Chevron for the cost of decommissioning transferrable assets so there was a long dispute that means new gas production has been delayed about 2 years.

[pegman]

Biden sanctions hitting energy costs in most places while in turn providing more revenue to Russia 

[tomazbodner]

5 hours ago, webfact said:

Pheu Thai has promised to act immediately to bring down spiralling electricity costs if it is elected to form a government after the 2023 General Election.

And while at it, they also promised to immediately stop the war in Ukraine, end all sanctions, and make the Sun produce light at frequencies that increase performance of the solar cells...

 

This is pure populism. Say whatever to get elected. No matter what the cost or consequences of it would be, or whether it's even possible.

[BritManToo]

4 minutes ago, tomazbodner said:

This is pure populism. Say whatever to get elected. No matter what the cost or consequences of it would be, or whether it's even possible.

They can say what they like, without guns and tanks they won't get to rule.

[sammieuk1]

Not looking forward to getting roasted alive whilst shopping 21% more than I'm already ????

[MrMojoRisin]

23 minutes ago, tomazbodner said:

This is pure populism. Say whatever to get elected. No matter what the cost or consequences of it would be, or whether it's even possible.

Should they fail to deliver, the consequence will be that PT fail to win the subsequent election.

 

Wow - democracy has a self correcting mechanism, elections.

[lujanit]

40 minutes ago, pegman said:

Biden sanctions hitting energy costs in most places while in turn providing more revenue to Russia 

Completely not true.  The world energy costs are due to that war criminal Putin invading Ukraine. plus the fact that there is always a spike in prices in the northern winter.  Russia is suffering a severe downturn in gas revenue because most of Europe (except for Hungary which has an exemption due to it being landlocked) is refusing to buy Russian gas.  Not only that but the Nordstream pipelines have been blown up.  As Russia delivered the vast majority of gas by pipeline, it has very little LNG capability. 

 

Russia is loosing revenue not only on gas but also oil as well.  It has had to offer severe discounts to China and India to take its raw energy.  Turkey has a deal with paying Russia on the never never.

 

How can all this provide Russia with more revenue?  Russia is on the point of economic collapse due to the downturn in revenue of oil and gas revenue.

[edwinchester]

1 hour ago, pegman said:

Biden sanctions hitting energy costs in most places while in turn providing more revenue to Russia 

Virtually the whole Western world has imposed sanctions on the Russian regime. Europe in particular has cut off Russian energy supplies. To pin them specifically as Biden sanctions is just plain wrong.

[lapamita]

57 minutes ago, lujanit said:

Completely not true.  The world energy costs are due to that war criminal Putin invading Ukraine. plus the fact that there is always a spike in prices in the northern winter.  Russia is suffering a severe downturn in gas revenue because most of Europe (except for Hungary which has an exemption due to it being landlocked) is refusing to buy Russian gas.  Not only that but the Nordstream pipelines have been blown up.  As Russia delivered the vast majority of gas by pipeline, it has very little LNG capability. 

 

Russia is loosing revenue not only on gas but also oil as well.  It has had to offer severe discounts to China and India to take its raw energy.  Turkey has a deal with paying Russia on the never never.

 

How can all this provide Russia with more revenue?  Russia is on the point of economic collapse due to the downturn in revenue of oil and gas revenue.

Putin is bad, and the world is black and white.,its sooooo easy

Russia on brink of collaps,dreams of the west.. sanctions ,for idiots

Russias exports to europe increase at 42% until oct ( 9 month period)..dont belive it, follow the number on statista.eu.tradesurplus up 2,3times to 1,4 bio.

Pimco is the bihggest stakeholder in russianbonds since FED and congress mae an exeption on trading back in june.

sanctions are for the monkeys on the street ,and by the way all this inflation is comming from absurd financial policys over 15 years...what you think real goods never go up in price? only asstes like shares,property ,paints and watches?

ok you take enw firends ,putin not reliable? <deleted>. Minsk agreement was a fake, and only there to aid military to ukraine ( german chancellor merkel said this by word in the " die zeit" germany. 

 

and the new firends : the saudis ,oh very reliable, getting 15bio in militray aid from france and 5 bio from scholz,to kill the next 500000 civillians oh thats ok, and asabajev a killer the bnew friend of van der layen ,after her visit, he direct send his army to kill armeniens just a week later,and a week later pellossi was in armenia

 

what the f....is that, thats not our buissenes the kaukasus, 

 

i wish putin good luck and hopefully some human sense for eu politicans. the amaricans i undertsand  ,bcs they profiting in all sense from this conflict, they fighting for their financiaö system and the dollar, for non profitable lng ports in us and so on, sorry i mean the goverment i understand  in us, 

 

yes the world is black and white

[hotchilli]

8 hours ago, webfact said:

The Chairman of the Pheu Thai Party policy committee, Mr Prommin Lertsuridejm made the statement on Thursday as energy officials confirmed a 21% hike in electricity costs for businesses to come into effect in January 2023.

Happy New Year.. inflation will skyrocket again.

[zzaa09]

......and those who buy into the same old lame story and reasoning. 

[billd766]

5 hours ago, pegman said:

Biden sanctions hitting energy costs in most places while in turn providing more revenue to Russia 

How did you manage to get so far off topic?

 

There was me thinking that the topic was about 

 

Pheu Thai to knock back skyrocketing electricity costs hitting business with a 21% rise in 2023

 

in Thailand and all of a sudden you are trying to derail the topic to 

 

quote "Biden sanctions hitting energy costs in most places while in turn providing more revenue to Russia".

 

If you want to start a thread about that please do so in a new topic.