Thai government plans further electricity tariff cut to 3.99 baht per unit

The Thai Energy Ministry has laid out plans to further reduce electricity tariffs by an additional 11 satang per unit, announced government spokesperson Chai Watcharong yesterday. Deputy Prime Minister and Energy Minister Pirapan Salirathavibhaga disclosed the plan during the meeting, stating that the current rate of 4.10 baht per unit is set to drop to 3.99 baht.

Just last month, the Cabinet agreed to a price reduction from 4.45 baht per unit to 4.10 baht. This reduction starts from this month’s billing. The step was enacted following Prime Minister Srettha Thavisin‘s instruction for the urgent creation of strategies to lower energy costs and electricity bills.

Though the plan’s specifics remain undisclosed, Chai confirmed that this reduction was not a direct resolution of the Cabinet. The energy minister discussed the potential rate cut with the Energy Regulatory Commission, concluding that a drop to 3.99 baht per unit was feasible from this month’s billing.

In addition to this, PM Srettha announced further plans to alleviate the public’s economic burden during Monday’s meeting. Upcoming discussions will focus on supporting motorists struggling with car instalment payments.

Speaking at the “Future Perfect” segment of the Thairath Forum 2023, the prime minister assured that the government is actively pursuing more ways to decrease living costs. The 61 year old PM mentioned that he had directed relevant departments to explore options for reducing petrol prices, particularly for low-income earners.

Notably, the current electricity price has been successfully brought down to 4.19 baht per unit, slightly below the 4.25 baht demanded by industries. The prime minister expressed hope that the government could further decrease this to less than 4 baht per unit.

On the topic of the government’s upcoming 10,000-baht digital wallet policy, the prime minister reiterated that the launch is set for the first quarter of next year. Clarity on the funding sources for the scheme, which is a major election promise from the ruling Pheu Thai Party, is expected within the next ten days. The digital wallet scheme is projected to require a staggering budget of 560 billion baht, reports Bangkok Post.

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