Deputy Prime Minister and Energy Minister Pirapan Salirathavibhaga has announced a comprehensive plan to restructure Thailand’s energy pricing system, aiming to alleviate the burden of high energy costs. In a recent Facebook post, Pirapan declared his intention to revamp the system, beginning with the liberalization of refined oil import restrictions.
The restructuring aims to make fuel and energy costs more affordable, ensuring energy security and sustainability for the country. However, Pirapan acknowledges the challenges ahead, anticipating resistance from oil refineries and related businesses that have profited from the current high energy prices.
Key to this reform is the relaxation of regulations that currently prohibit the import of refined oil. This measure is expected to help control oil prices more effectively in Thailand, a policy outlined by the Pheu Thai Party-led coalition.
Behind the scenes, efforts have already begun to lower energy prices. The government has recently approved measures to maintain diesel prices below 30 baht per liter and cap electricity tariffs for households using less than 300 units per month. These measures are part of a wider plan to reduce living costs and stimulate the economy.
The government has also proposed keeping the cost of liquefied petroleum gas and cooking gas stable and reducing petrol prices until the end of January.
Pirapan anticipates introducing more measures to further reduce energy prices for specific groups, including farmers, following the successful implementation of subsidized oil for fishermen. (NNT)
