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Thailand energy report

Thailand energy report
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Format
4 files (PDF report, 3 Excel files)
Pages
65 (Report only)
Delivery
Immediate by e-mail
Table of Contents
  • GENERAL OVERVIEW
  • ENERGY AND CLIMATE POLICY FRAMEWORK
  • ENERGY COMPANIES
  • ENERGY SUPPLY AND DEMAND
  • ENERGY USE AND PRICE BY SECTOR
  • ISSUES AND PROSPECTS
  • STATISTICS
  • ABBREVIATIONS
  • GLOSSARY

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Overview

Thailand is advancing its energy transition with ambitious climate targets, including carbon neutrality by 2050 and a 30% reduction in emissions by 2030. The draft National Energy Plan prioritises renewables, aiming for 68% of electricity generation by 2040, supported by expanded solar, wind, and bioenergy capacity. Key reforms in electricity, oil, and gas sectors enhance competition, while new policies promote energy efficiency, electric vehicles, and carbon pricing to drive sustainable growth.

Get more details on the table of contents and data files, as well as the list of graphs and tables by browsing the tabs below.

Highlights

  • Thailand targets a 30% reduction in GHG emissions by 2030 from a BAU scenario and carbon neutrality by 2050. The country plans a share of 68% of renewables in the electricity mix in 2040.
  • EGAT, a state-owned company EGAT is the largest power generator, with 44% of total capacity.
  • PTTEP is the main oil and gas company, with around 70% and 80%, respectively of the country's production.
  • Fossil fuels supply 80% of total energy consumption, including 43% from oil. Natural gas dominates the power mix (66% in 2024).
  • Final energy consumption has remained fairly stable since 2022. Oil products represent 55% of this consumption, with electricity contributing for 21%.
  • The electricity share in households and services surged since 2010 (+31 pp), mostly at the expense of biomass (-26 pp).
  • Total coal phase-out is expected by 2050 (3.7 GW in 2024). Draft PDP 2024 aims for 600 MW of SMR by 2037.
-30%
GHG emission reduction by 2030
68%
of renewables in the electricity mix in 2040
67%
electricity's share in consumption of buildings in 2024

  • Energy & Climate Policy Framework

    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

    Electricity:

    EGAT, the Electricity Generating Authority of Thailand, is the historical generation company with an owned capacity of 16.2 GW (52% CCGT, 23% steam turbines, 19% renewables, and 6% from diesel and other sources (2024) -i.e., around 36% of the country's capacity. Beyond its own capacity, it has stakes in 2 IPPs - EGCO (25.4%) and RATCH (45%).

  • Energy Supply & Demand

    Oil:

    The production of liquid hydrocarbons (crude oil and NGL) increased in 2024 (+11%), reaching 13.6 Mt, after decreasing from 2016 to 2023 (-6.5%/year), Previously, it had increased rapidly between 2000 and 2016 (+6%/year).

  • Energy Use and Price by Sector

    Energy Prices in Industry:

    In 2024, electricity prices for industry returned to 2022 levels reaching USD 9.9c/kWh. In 2023 they jumped by 11%, reaching USD 11.1c/kWh. Previously, prices remained at around USD 10c/kWh since 2019. Electricity prices for industry in Thailand are around 20% lower than in Cambodia, and 40% higher than in Lao.

    Graph: Energy Prices in Industry (Taxes Included)

  • Issues & Prospects

    Pending the official release of the National Energy Plan (NEP), 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: Final Intensity to GDP
  • Graph 2: Primary Consumption Trends by Energy Source
  • Graph 3: Total Consumption Market Share by Energy (2024)
  • Graph 4: Installed Electric Capacity by Source
  • Graph 5: Installed Electric Capacity by Source (2024)
  • Graph 6: Gross Power Production by Source & Consumption
  • Graph 7: Power Generation by Source (2024)
  • Graph 8: CO2 Intensity of Electricity Generation
  • Graph 9: Crude Oil Production & Consumption
  • Graph 10: Petroleum Products Production & Consumption
  • Graph 11: Gas Production & Consumption
  • Graph 12: Coal Production & Consumption
  • Graph 13: GHG Emissions and CO2-energy Emissions
  • Graph 14: CO2-Emissions per Capita
  • Graph 15: CO2 Intensity to GDP
  • Graph 16: Final Demand Trends by Energy Source
  • Graph 17: Final Consumption by Sector
  • Graph 18: Final Consumption Market Share by Sector (2024)
  • Graph 19: Share of Electricity in Total Final Energy Consumption
  • Graph 20: Final Consumption in Industry by Energy Source
  • Graph 21: Energy Prices in Industry (Taxes Included)
  • Graph 22: Final Consumption in Transport by Energy Source
  • Graph 23: Energy Prices in Transport (Taxes Included)
  • Graph 24: Final Consumption in Residential, Services, Agriculture by Energy Source
  • Graph 25: Energy Prices in Residential (Taxes Included)
  • Graph 26: Upcoming New Capacity by Energy Source
  • 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.

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.