Energy Policy Executive Committee (MPG) prepares for a meeting to consider the retail price of LPG next week. Before the end of the price fixing measure, 408 baht per 15 kg bucket by the end of October 2022 by offering 2 options, both maintaining the same price. or increase the price of 1 baht/kg per month for 3 months, indicating the current fund Still compensates for the retail price of 6.69 baht / kg, indicating that if not compensated, the price will rise to 31.83 baht / kg, or 477 baht per 15 kg tank. Welfare card 100 baht/person/3 months until Dec 2022 | Image source: Energy News Center
Energy News Center Reports that the Energy Policy Administration (MPG) is preparing to convene a meeting next week to consider the new retail price of cooking gas (LPG) as it will end the price fixation measure at 408 baht per 15 kg tank on October 31. 2022. Initially, an approach will be considered appropriate to the current situation. Which will continue to propose measures to maintain the original price of 408 baht per 15 kg tank or a price increase of 1 baht per kilogram for 3 months (Nov. 2022-Jan. 2023).
Due to the current global LPG price remains at a high level of 575 USD per ton. Despite a decline from September 2022 at 640 USD per tonne, the Fund still has to offset the LPG price at 6.96 baht per kg. The retail price is only 24.87 baht per kilogram. However, if the price is not compensated at all, LPG will actually have to be sold at a price of 31.83 baht per kg or 477.45 baht per 15 kg drum, which is almost 70 baht higher than the current selling price per 15 kg drum.
As for the latest oil fund status, as of October 9, 2022, the Fund was negative for a total of 125,079 million baht, which came from the use of funds to compensate for the price of oil totaling 82,660 million baht and the money to compensate the LPG price for a total of 42,413 million baht. There was money outflow to compensate for LPG price at 21.58 million baht per day.
Therefore, it is expected that compensation will be used until December 2022, under the limit for compensation of not more than 45 billion baht, of which 42,413 million baht has already been used.
However, at the end of the year, when the winter approaches, world LPG prices are expected to increase seasonally. This will result in the fund having to compensate more for the price. and company donations PTT Public Company Limited, 3,000 million baht, will end in November 2022, so the Ministry of Energy hopes to be able to borrow money from financial institutions within December 2022 to further enhance liquidity.
Mr. Kulit Sombatsiri, Permanent Secretary of the Ministry of Energy, said that the Cabinet meeting on October 18, 2022 approved the budget for the fiscal year 2023, the central budget, the list of reserves for emergencies or necessities, in the amount of 302.50 million baht for Extending the period of measures to mitigate the impact of LPG prices, the project to raise the level of assistance and discounts on the purchase of LPG gas for low-income earners Through the state welfare card, from 45 baht per person per 3 months, an increase of 55 baht per person per 3 months to 100 baht per person per 3 months during October – 31 Dec 2022
State welfare card holders can use the surcharge of 55 baht per person per 3 months (totaling 100 baht per person per 3 months) from October 25 – December 31, 2022. 1 – 24 Oct 2022 Government welfare card holders can still use the 45 baht discount per person per 3 months as usual.
“Extending the period of subsidy for LPG gas discounts for low-income people Passing the state welfare card is one of the urgent measures on energy to alleviate the impact on people from the energy price situation according to the cabinet resolution on September 13, 2022. The Ministry of Energy sees the need for assistance measures. price to people to alleviate the suffering caused during the high energy price crisis,” said the Permanent Secretary for Energy.
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