BANGKOK, 30 April 2015 – The Ministry of Energy has presented a performance report for the past six months, during which the ministry sought to normalize fuel prices, eliminate debt from the Oil Fund, and initiate over 160 alternative energy programs.
In terms of energy security, the ministry has expanded imports of liquid natural gas (LNG) from neighboring countries, while organizing the 21st Round of Bidding for Concessions for Oil and Gas Exploration. Meanwhile, imports of liquid petroleum gas (LPG) were decreased to save the country almost one billion baht per month.
Previously a source of national debt, the Oil Fund has been replenished with nearly 40 billion baht. The excise tax has also generated 80 billion baht in state revenue.
In terms of energy sustainability, the ministry has established rates for feed-in tariffs (FiT) to incentivize alternative energy investments.
Alternative energy projects sponsored by the ministry are expected to produce a combined 918.33 MW. The agency dealt with several administrative barriers to promoting renewable energy, in accordance with government policy to foster the nation’s first integrated energy plan.
