Power move: Energy Ministry to introduce National Energy Plan

The Energy Ministry announced yesterday that it is gearing up to unveil the National Energy Plan 2024 in September. This comprehensive strategy promises to revolutionise Thailand’s energy landscape with the introduction of nuclear plants and a pledge to cap electricity costs at under 4 baht per unit.

The Energy Policy and Planning Office (EPPO) revealed that this master plan will serve as a blueprint for both public and private sectors, aiming to secure the nation’s energy future, hit the net zero target by 2065, and align with international regulations and trade agreements.

Weerapat Kiatfuengfoo, EPPO Director-General, highlighted that the National Energy Plan will integrate five crucial energy-related strategies to ensure cohesive progress. These include the Power Development Plan (PDP) for 2024 to 2037, the Alternative Energy Development Plan (AEDP), the Energy Efficiency Plan (EEP), the Gas Plan, and the Oil Plan.

The PDP and EEP plans are set to undergo a public hearing process from June 12 to 13, offering a platform for public input and engagement.

Weerapat emphasised that PDP 2024 will prioritise bolstering the nation’s energy security, reducing environmental impacts, and maintaining energy costs below 4 baht per unit to ease the financial strain on citizens and businesses alike.

He also noted the ambitious goal of enhancing power stability, targeting a Loss of Load Expectation (LOLE) of under 17 hours per year. The plan includes the development of advanced power plants, such as pumped storage hydropower facilities and small modular reactors (SMR), reported The Nation.

“SMR represents a leap forward in energy stability, combining modern technology with enhanced safety and reduced spatial requirements. Our initial capacity for these nuclear plants will be set at 600 megawatts.”

Thailand’s future energy needs are projected to soar, with power consumption expected to climb to 55,000 to 56,000 megawatts by 2037 from the current 36,000 megawatts. To meet this surge and minimise environmental impact, the share of renewable energy will rise from 36% to 51% by 2037.