Thailand to cut mall, gas station opening hrs if LNG hits $50/unit
The National Energy Policy Council (NEPC) is readying measures to reduce energy usage in the business sector should the price of liquefied national gas (LNG) exceed US$50 per unit.
The council, chaired by Prime Minister Gen Prayut Chan-o-cha, met on Monday to discuss plans to cope with rising global energy prices due to higher global demand over winter.
After the meeting, Energy Ministry permanent secretary Kulit Sombatsiri said the NEPC approved voluntary energy-saving measures for the public and business sectors, including setting air conditioners at 27 degrees Celsius, turning off unnecessary lighting, and shutting off billboards.
“Currently the price of LNG used to produce electricity is $28-29 per unit [BTU]. If the price soars past $50 point for at least two consecutive weeks, these voluntary measures will become mandatory ones,” said Kulit.
Additional measures will be enforced among operators if the LNG price rises past $50, including limiting opening hours of shopping malls, convenience stores and filling stations. Malls will also have to shut down air conditioners and escalators up to one hour before closing. Large illuminated billboards will be switched off earlier, added Kulit.
The NEPC tasked responsible agencies to source alternatives to LNG, such as furnace oil and diesel, as well as increasing the capacity of domestic LNG sources under joint development with Malaysia by at least 100 million cubic feet.
If the global LNG price drops to below $26 per unit, however, Thailand will increase imports of LNG to add to the national reserve for future energy demand, said Kulit.
Monday’s meeting also approved temporary exemption for licensed energy sellers from the mandatory contribution of 0.5 satang per unit to the Power Development Fund, to reduce electricity costs and mitigate the impact of soaring energy prices on the public.
The Power Development Fund finances the promotion of renewable energy usage and eco-friendly technology used in power-related industries.
