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Thailand energy report

Thailand energy report
Update
Format
4 files (PDF report, 3 Excel files)
Pages
34 (Report only)
Delivery
Immediate by e-mail
Table of Contents
  • GENERAL OVERVIEW
  • INSTITUTIONS AND ENERGY POLICY
  • ENERGY COMPANIES
  • ENERGY SUPPLY
  • ENERGY PRICES
  • ENERGY CONSUMPTION
  • ISSUES AND PROSPECTS
  • DATA TABLES
  • ABBREVIATIONS
  • GLOSSARY

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Overview

This analysis includes a comprehensive Thailand energy market report and updated datasets. It is derived from the most recent key economic indicators, supply and demand factors, oil and gas pricing trends and major energy issues and developments surrounding the energy industry. The report provides a complete picture of the country situation, dynamics, current issues and future prospects. With market data and continuous follow-up of markets news, this report brings clear and concise insights with which to tackle national energy challenges and opportunities. Browse the tabs below for a detailed table of contents, the list of graphs and tables, and details on the data files.

Highlights

  • The forthcoming National Energy Plan should include an objective of 50% of renewables in the power mix by 2037.
  • The introduction of a carbon tax is planned.
  • The oil and gas sector is dominated by national company PTT.
  • State-owned electricity company EGAT is the largest power generator, with 38% of total capacity.
  • Natural gas is by far the first energy source for power generation (62% in 2022).
  • Coal imports decreased by 10% in 2022 mainly due to an industrial consumption drop.
  • The Government spent around US$300m in 2023 to protect customers against high energy prices.
  • Oil products still account for 58% of final energy consumption.
  • Industry is the largest end-use sector (54% of final consumption and 45% of electricity consumption).
  • The new NEP 2022 will significantly increase the share of renewables at the expense of gas and coal.
  • Around 4.4 GW of solar projects are planned.
30%
GHG emission reduction target by 2030
62%
share of gas in the power mix in 2022
50%
share of renewables in power capacity in 2040
  • Institutions & Energy Policy

    The Ministry of Energy is responsible for energy policy development through the Energy Policy and Planning Office (EPPO). The National Energy Policy Committee (NEPC), chaired by the Prime Minister, is the decision-making body.

  • Energy Companies

    Oil:

    Petroleum Authority of Thailand (PTT) is the national oil company (63.3% public, of which 51.1% directly held by the Ministry of Finance and 12.2% through the Vayupak Fund).

  • Energy Supply

    Gas:

    The marketed gas production dropped by 17% in 2022 as PTTEP struggles to boost production from maturing fields. Prior to this, gas production had also decreased by around 30% between 2014 and 2021. It increased rapidly from 20 bcm in 2000 to 37 bcm in 2014.

  • Energy Prices

    Electricity:

    The average price of electricity for industry has remained roughly stable since 2018 (US$10.4c/kWh in 2022). It decreased in 2021 for households and remained stable in 2022 (US$12.7c/kWh), after an increase by around 6%/year over 2016-2020.

  • Energy Consumption

    Per capita energy consumption stood at 1.8 toe in 2022, while per capita electricity consumption 2 740 kWh.

    Total energy consumption has been decreasing by 2%/year since 2019 to reach 128 Mtoe in 2022. Previously it had increased by 1.8%/year since 2010.

    Oil covers 46% of the country's needs, natural gas 23%, biomass 17%, and coal and lignite 11%.

  • Issues & Prospects

    Pending the official release of the National Energy Plan (NEP) 2022, planned for end2023, the Thailand Integrated Energy Blueprint (TIEB) 2015 remains in force and defines the energy trajectory until 2036. Oil demand is expected to increase by 3.3%/year until 2036 in the BAU scenario.

  • GRAPH 1: CO2-energy emissions (MtCO2)
  • GRAPH 2: Installed electric capacity by source (2022, %)
  • GRAPH 3: Gross power production by source (TWh)
  • GRAPH 4: Power generation by source (2022, %)
  • GRAPH 5: Gasoline & diesel prices (US$/l)
  • GRAPH 6: Electricity prices for industry and households (US$c/kWh)
  • GRAPH 7: Consumption trends by energy source (Mtoe)
  • GRAPH 8: Total consumption market share by energy (2022, %)
  • GRAPH 9: Final consumption market share by sector (2022, %)
  • Economic Indicators: Annual historical data including population, GDP growth, imports and exports, inflation rate, energy security and efficiency indicators, CO2 emissions.
  • Supply Indicators: Historical data including oil and gas reserves, electric and refining capacity, energy production, power production and external trade. All are detailed by energy source.
  • Demand Indicators: Historical data including consumption per inhabitant, consumption trends, total consumption by energy source, final consumption by energy source and sector, and electricity consumption by sector.
  • Energy Balances: Single table displaying the overall energy industry balance per annum, also graphically displayed by energy sub-segment.
  • Infrastructure Projects: Covers power plant projects by energy, technology, status and operator.

The Thailand energy market data since 1990 and up to is included in the Excel file accompanying the Thailand country report.
It showcases the historical evolution, allowing users to easily work with the data.

Key Data included in the excelsheet:

  • Economic indicators: Annual historical economic indicators, energy security, energy efficiency and CO2 emissions.
  • Supply indicators: Annual historical reserves, capacity, production and external trade (imports(+) exports(-) balance).
  • Demand indicators: Annual historical consumption per capita, consumption trends, total consumption, final consumption (per energy and per sector) and electricity consumption total and per sector.
  • Energy Balance: total and per energy.
  • Thailand Energy Prices: In addition to the analysis provided on the report we also provided a data set which includes historical details on the Thailand energy prices for the follow items: price of premium gasoline (taxes incl.), price of diesel (taxes incl.), price of electricity in industry (taxes incl.), price of electricity for households (taxes incl.), price of natural gas in industry (taxes incl.), prices of natural gas for households (taxes incl.), spot price of Brent and CO2 emissions (from fuel combustion).

The Thailand country dashboards are complemented with country forecasts from EnerFuture (excel file) with scenario comparison.

Data included in the excelsheet:

  • Demand: Primary energy consumption, final energy consumption, by fuel, by sector.
  • Power: Electricity generation & capacities, by technology.
  • CO2: Total CO2 emissions.
  • Macro-economy: Main macro-economic assumptions.
  • Key indicators: Energy intensity, share of renewables, CO2 emissions per capita and per unit of GDP.