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Thailand’s Landmark Plan to Slash Electricity Rates: Will Your Bills Plummet Like Never Before?

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Thailand’s Ministry of Energy, under the leadership of the Deputy Prime Minister and Energy Minister Pirapan Salirathavibhaga, is set on a path towards a monumental decision to reduce electricity tariffs further by an additional 11 satang per unit. This intriguing revelation was shared by government spokesperson Chai Watcharong.

Pirapan Salirathavibhaga, during the crucial meeting, revealed that the current tariff, which stands at a rate of 4.10 baht per unit, is earmarked to decline to an encouraging 3.99 baht per unit. This news comes off the back of last month’s cabinet agreement to reduce the price from 4.45 baht per unit to a significantly lower 4.10 baht, starting from this month’s billing.

This strategic move was motivated by the Prime Minister Srettha Thavisin’s directive for the urgent development of effective strategies aimed at reducing energy costs and easing the burden of electricity bills. While specific details of the grand plan are yet to be disclosed, it was confirmed by Chai that this reduction was not a direct cabinet resolution.

The energy minister, in a closed-door discussion with the Energy Regulatory Commission, floated the idea of a rate cut, eventually concluding that a reduction to 3.99 baht per unit was feasible and could commence from this month’s billing. Not stopping at merely reducing electricity tariffs, the government is further poised to lessen the public’s economic burden. For instance, upcoming discussions will center around providing aid to motorists struggling with car installment payments.

Addressing the “Future Perfect” segment at the Thairath Forum 2023, Prime Minister Srettha assured the public that the government remains dedicated to finding more ways to lower cost of living. The energetic 61-year-old leader shared that he had directed relevant departments to investigate viable options for reducing petrol prices, especially for the less financially privileged.

Interestingly, the existing electricity price has been comfortably reduced to 4.19 baht per unit, slightly less than the 4.25 baht required by industries. The Prime Minister is optimistic that the government can push to further decrease this to less than 4 baht per unit in the future.

Regarding the government’s new 10,000-baht digital wallet policy, Prime Minister Srettha reiterated that the official launch is slated for the first quarter of next year, fueling anticipation among the populace. He added that clear information on the funding sources for this ambitious scheme, an major campaign promise from the ruling Pheu Thai Party, will be made available in less than two weeks. This digital wallet scheme will require an astonishing budget of 560 billion baht, according to reports from the Bangkok Post.

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