NEPO green-lights energy restructuring plan

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BANGKOK, 24 March 2012 – The country’s energy policy agency has resolved to push ahead with the energy restructuring plan despite rising oil prices. 

Deputy Prime Minister and Finance Minister Kittiratt Na-Ranong revealed, after chairing a meeting of the National Energy Policy Office (NEPO) on Friday, that it has been agreed during the discussion that the planned energy restructuring project will continue despite rising oil prices.

Under this plan, NEPO will raise LPG price for the transport industry and perform the monthly increase in NGV price.

Mr. Kittiratt stressed that the LPG price for consumers will remain unchanged until the end of this year.

In addition, Friday’s meeting also resolved to raise the loan limit for the State Oil Fund from 10 billion baht to 30 billion baht, after higher global LGP price has forced the Fund to extend more subsidies for the country’s oil prices.

According to the Deputy Prime Minister, the NEPO meeting has noted that it will carefully implement the increase in energy prices and will take into consideration the inflationary pressure in Thailand.

Lastly, the meeting has agreed to let the Energy Ministry carry on the energy conservation campaign at 880 targeted government buildings, with an aim to lower energy consumption by 15 percent.

Mr. Kittiratt said it is estimated that 6 billion baht will be needed to execute the energy conservation project.