The Energy Policy and Planning Office (EPPO) is preparing to propose 5 energy policies to the new government of Thailand for consideration. The 5 policies consist of Restructuring of oil price to support the EURO 5 standard that set to take effect on January 1, 2024, Development of LNG Hub in ASEAN region, Promotion of Electric Vehicles (EVs), Promotion of Hydrogen Deployment, and Renewable Energy Certificates (RECs). The policies are made to help Thailand tackle with pollution and enhance national energy security.
Mr. Wattanapong Kurovat, Director of EPPO informed that EPPO is preparing 5 energy policies to propose to the new government as follows:
1. Project on Restructuring of oil price to support the EURO 5 standard
From January 1, 2024, fuel sold at gas stations in Thailand must comply with EURO 5 Standard. EPPO has studied the structure of oil price according to the standard, including marketing costs and various costs and expected to be completed by the end of 2023 to propose to the new government in time before January 1, 2024.
2. Project on Development of Regional LNG Hub in Thailand
Currently, Thailand has LNG trading with neighboring countries. EPPO therefore has an idea to develop Thailand as an LNG Hub in ASEAN and under conducting a study which from the preliminary study found that Thailand should start developing from LNG logistics first.
3. Promotion of Electric Vehicles (EVs)
The Ministry of Energy has set a target to create 2,000-4,000 EV Charging Stations with fast charging (5%) by 2030. The ministry will study the future demand of electricity generation to support EVs. It is expected that in the next 5-6 years, there will be a peak demand for electricity at night from charging EVs at home.
4. Promotion of Hydrogen Deployment in Thailand to achieve Carbon Neutrality
For the past 2 years, EPPO has been studying hydrogen models, which the target group is power plants, factories with heat utilization and transportation sector. Initially, Thailand should use a system to produce hydrogen from deducting oxygen from natural gas. It is expected that in the New Power Development Plan (PDP) of Thailand, hydrogen will account for 20% of total fuel use in electricity generation. The government will initiate the operation to create commercial use and then encourage the private sector.
5. Application of Renewable Energy Certificates (RECs) in Thailand
The National Energy Plan will increase the amount of power generated from renewable energy sources. Consumers of electricity from renewable energy will receive a certificate to claim that their products are produced with regard to the environment and to prevent trade barriers in the future. From 2025 and onwards, there must be the development of a system for monitoring and regulating the implementation of RECs activities, promulgation of Thai RECs certification standards and improvement of green power purchase guidelines, etc.