Bangkok, The Energy Regulatory Commission revealed that next year, the trend of gas prices will be lower than this year, but whether or not the electricity price will decrease from the rate of 4.18 baht/unit, the Ministry of Energy has set up a working group to negotiate the hundred-billion-baht debt with EGAT and PTT to be completed within 4 months. Mr. Poonpat Leesombatpaiboon, Secretary-General of the Energy Regulatory Commission (ERC) and spokesman of the Energy Regulatory Commission (ERC), revealed that the ERC has resolved to freeze the electricity price for the period of September-December 2024 at 4.18 baht per unit, the same as before, with the FT rate at 39.72 satang, in accordance with the Cabinet resolution to help people with their cost of living, in which the Electricity Generating Authority of Thailand (EGAT) and PTT Public Company Limited jointly assume the outstanding debt (AF) for now. However, from the freeze on the electricity price, EGAT will receive a debt repayment of approximately 3,26 7 million baht, resulting in the AF debt that EGAT shouldered the cost of fuel and electricity purchases on behalf of the public from September 2021 to April 2024 during the past energy price crisis remaining at 95,228 million baht, and the remaining AF gas debt according to the Cabinet resolution of 18 September 2023 of 15,083.79 million baht (EGAT's portion of 3,000 million baht and PTT's portion of 12,000 million baht) still remaining. The total amount of these 2 parts is a total debt of 110,312 million baht. Mr. Poolpat said that the Minister of Energy has assigned the Ministry of Energy to set up a working group with representatives from the Ministry of Energy, the Energy Regulatory Commission, PTT and EGAT to discuss the outstanding debt of AF to be completed within the next 4 months or by the end of 2024 by finding a solution that is fair to all parties and does not create a burden for the people. In this regard, if we look at the electricity cost in 2025, just the cost excluding AF debt, the electri city cost will be 4.18 baht/unit cheaper because the estimated price of LNG in early 2025 will be cheaper than the current price of around 13 US dollars/million BTU. In addition, the production from the Gulf of Thailand gas, source G1/61, in 2025 will be able to produce a full year of 800 million cubic feet per day, which will further reduce the overall gas cost. At the same time, the EGAT has negotiated with LNG importers at spot market prices to import in a long-term contract of more than 5 years instead of a short-term contract of 3-5 years, which is hoped to further reduce the cost. 'The cost of electricity next year will be lower in line with the lower price of LNG, but it depends on the situation of the world's geopolitical conflicts. However, it can be seen that the world has increased its production of LNG and yesterday there was a problem in the Middle East when the leader of Hamas was assassinated. The price of crude oil has increased, but the price of LNG has not increased at all,' said Mr. Poolpa t. Source: Thai News Agency