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Wednesday, February 28, 2024

EGAT’s Green Energy Push: New Tariff to Attract Investors

The Electricity Generating Authority of Thailand (EGAT) is gearing up to unveil a groundbreaking energy pricing structure referred to as the “Utility Green Tariff” (UGT) in the coming months. This strategic move is aimed at attracting multinational corporations to invest in ambitious renewable energy projects within Thailand’s borders.

Warit Rattanachuen, EGAT’s Assistant Governor for Research, Innovations, and Business Development, recently addressed industry stakeholders during a seminar themed “Road to Net Zero.” During his address, he highlighted a global trend where various nations have turned to tax incentives and measures to prompt businesses to curtail their greenhouse gas emissions. This particular initiative by EGAT is envisioned to stimulate a surge of interest among major international players to channel investments into renewable energy ventures across Thailand.

Collaborating closely with key entities such as the Board of Investment, the Metropolitan Electricity Authority, and the Provincial Electricity Authority, EGAT has actively sought the perspectives of prospective major investors regarding renewable energy projects and the forthcoming energy pricing structure. Warit emphasized the meticulous development of this new pricing system for renewable energy, with a tentative announcement expected either by year-end or early the following year.

Crucially, EGAT acknowledges that the journey towards green energy adoption hinges on securing a dependable source of renewable energy. Modernizing the electrical grid infrastructure is pivotal to accommodating an array of renewable energy sources, including wind, solar, and biomass. This modernization is essential to attaining eligibility for green energy incentives.

In a significant revelation, Warit disclosed the formation of the “Renewable Energy 100” association, known as RE100. This association has a bold mission – rallying the world’s most influential corporations, especially those with an annual electricity consumption exceeding 100 gigawatt-hours (GWh), to commit to exclusively utilizing 100% renewable electricity by the year 2050. EGAT has been actively engaging with various agencies in collaborative efforts to reduce carbon dioxide emissions. However, Warit emphasized that there remains a considerable journey ahead to reach the ultimate goal of zero emissions. As a short-term solution, EGAT envisions planting an additional 160,000 hectares of trees to absorb carbon dioxide, aligning with global efforts to combat climate change.

EGAT’s forthcoming Utility Green Tariff marks a significant stride toward a sustainable and environmentally responsible future for Thailand’s energy landscape. The collaboration with international stakeholders and the emphasis on renewable energy signifies the nation’s dedication to embracing green technologies and mitigating its carbon footprint in the years to come. As the world navigates the transition towards cleaner energy sources, Thailand’s proactive stance showcases its commitment to a greener, more sustainable future.

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february, 2024