EPPO expects in 2023, energy demand will grow by 2.7%, benefiting from travel, investment, economic recovery and rising electricity prices. Aiming to produce a national energy plan to be used in the 2nd quarter of 2023
December 11, 2022 – Mr. Wattanapong Kurovat, Director of the Energy Policy and Planning Office (EPPO), revealed that in 2023, the country’s gross energy demand is expected to increase by 2.7% to 2,111. thousand barrels of oil equivalent per day As the demand for travel tends to return to normal both domestic and international travel. Including the expansion of investment in both private and public investment. according to economic recovery Oil consumption is expected to increase by 4.2%, natural gas is expected to increase slightly by 1.8%, coal/lignite consumption is expected to increase by 1.1%, and hydropower and imported electricity use is expected. It is expected to increase 4.4%.
However, risk factors need to be monitored closely, such as the economic slowdown in major countries that will affect the manufacturing and export sectors. Unrest between Russia and Ukraine and measures to control the epidemic and allow international travel of China. The Ministry of Energy will closely monitor and manage energy policy during the energy price crisis. to find guidelines and measures to help people during the next energy crisis
“EPPO assesses the trend of oil and natural gas prices in the world market still fluctuating. As a result, the cost of electricity production is higher. Causing next year, Thai people still have to pay for electricity at the same expensive rate. But still pay at a rate not higher than 5 baht / unit, which the Energy Regulatory Commission (ERC) will probably tap on 3 clear adjustment guidelines soon, with assistance measures from the government, ”said Wattanapong.
In addition, EPPO prepares to propose a National Energy Plan (NEP) to the Ministry of Energy. Be informed within Dec. 2022 and open for public hearing in January. 2023, following which it will be presented to the National Energy Policy Council (NEPC) and the Cabinet meeting (Cabinet) for consideration. The plan is expected to be officially announced in the second quarter of 2023, initially consisting of a power development plan. Power Generation (PDP 2022) that will determine the proportion of renewable energy 50%, natural gas 40%, coal 10%, the remaining will allow hydrogen and nuclear power, etc.
Mr. Wattanapong said that for the year 2022, EPPO estimates the trend of the country’s primary energy demand at 2,056 thousand barrels of oil equivalent per day. An increase of 3.2% from the previous year, in line with the country’s economic expansion. and economic activities that tend to recover Oil consumption is expected to increase by 14.9%, coal/lignite consumption is expected to increase by 7.1%. It is expected to increase 14.7%, with the exception of natural gas expected to fall 9.1% as it was hit by a drop in domestic production. and the impact of rising natural gas prices. from the followingmath of the Russian-Ukrainian unrest
