Friday, March 05, 2021, 19.06
“ERC” fixes the new electricity bill -15.32 satang for rising oil
ERC continues to freeze the ft for the May-August period at minus 15.32 satang, ready to handle rising oil prices and the baht appreciation at the end of the year.
Mr. Komkrit Tantaravanich Secretary-General of the Energy Regulatory Commission (Office of the ERC) as a spokesperson for the ERC revealed that on March 3, 2021, the Energy Regulatory Commission (ERC) passed a resolution to freeze the variable electricity (FT) for Electricity collection in the period of May – August 2021 will be charged at -15.32 satang per unit. As a result, consumers continue to pay the same electricity bill at the rate of 3.61 baht per unit for the next 4 months.
“ERC views that the trend of crude oil prices has continued to increase from US $ 54.8 per barrel. In February 2021 to $ 60 per barrel in March 2021 and the trend of the baht weakening from 30 baht per US dollar in February 2021 to 31 baht per barrel in March 2021. May affect the Ft at the end of the year. Moreover, the growing demand for energy from the global economic recovery following the coronavirus epidemic Unravel in the second half This will result in a serious increase in the demand for fuel in the world market. Therefore, the FTT valuation principles are applied throughout the year to ensure that there will be a potential to stabilize electricity bills throughout the year 2021, ”said Mr. Komkrit.
The factors for determining the Ft (normal) during the period May – August 2021 consist of:
1. Electric power demand in May – Aug 2021 was approximately 67,885.43 million units, an increase from the period of January – April 2021 that the demand for electric power is expected. Equal to 60,685.17 million units or an increase of 11.86 percent
2. Proportion of fuel consumption Electricity generating during May – Aug 2021 still uses natural gas as the main fuel, 55.5% of the total fuel used in power generation. In addition, it is the purchase of electricity from abroad. (Laos and Malaysia) total 17.02 percent and EGAT’s lignite fuel cost 8.73 percent, coal imported to private power plants 8.72 percent and others 10.03 percent.
3. The situation of the price of fuel used to generate electricity According to actual data from January 2021, the exchange rate is 30 baht per US dollar. And Dubai crude price is quoted at 54.8 US dollars per barrel. The price of natural gas, the main fuel for power generation, has increased from estimates in the period of January to April 2021.
4. The average exchange rate used in the forecast (1 – 31 January 2021) is 30 baht per US dollar. The appreciation from the forecast in the January-April 2021 forecast at 31.4 baht per US $.
However, considering the Dubai crude oil price trend. And the change in exchange rate in February 2021, it was found that it may have an effect on the FT valuation. Therefore, the Dubai crude oil assumption is considered at US $ 60 per barrel. And the exchange rate is 31 baht per US dollar. To calculate, substitute and evaluate the FT throughout the year As a result, the Ft was -18.02 satang per unit in the period May-Aug 2021 and -7.95 satang per unit in the period Sep-Dec 2021, respectively (average – 13.14 satang per unit throughout the year)
In addition, if considering the ability to freeze the Ft at -15.32 satang per unit. Must use the administrative money in the amount of 2,610 million baht while the ERC still has management money of 4,129 million baht, the ERC decided to freeze the fee at -15.32 satang per unit in the period of May – Aug 2021
In this regard, the ERC will conduct a hearing on the Ft fee for the collection in the period of May – August 2021 via the ERC website from 5 – 19 March 2021 before the official announcement. Next
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