Power bills are set to rise with the Electricity Generating Authority of Thailand (Egat) likely to increase its fuel tariff (Ft) rate by five to seven satang per unit in the period May through August.
Egat governor Soonchai Kumnoonsate said the trend of the Ft review indicated there would be an increase in the rate from the current 59 satang per unit because of higher fuel costs. The Ft is reviewed every four months.
He said a contributing factor to the increase is the baht's depreciation. Every baht dropped in the exchange rate against the dollar increases the Ft rate by 56 satang per unit.
He said lower electricity consumption than projected was also a factor. Electricity usage over the past three months was 3.5% lower than the same period of 2013, resulting in a higher average cost.
The authority also has to reduce electricity production from hydro-dams compared to the first four months of the year to conserve water from May onwards.
On April 3 electricity consumption peaked at 26,000 megawatts, but it was still lower than the projection of 26,700 megawatts, he said.
Mr Soonchai said natural gas is currently used to produce 70% of power, but it was likely that more imported liquefied gas would be used. The cost of using gas fuel is 4.20 baht a unit, while power generated from coal costs 2.50 baht a unit.