Energy consumption forecast to rise 3.2% next year

Energy consumption is forecast to increase by 3.2% next year on projected economic growth and other data, the Energy Policy and Planning Office said on Friday.

Energy consumption forecast to rise 3.2% next year
Business

Energy consumption forecast to rise 3.2% next year

New National Energy Plan to emphasise swing to renewables

published : 9 Dec 2022 at 15:10

writer: Yuthana Praiwan

An electric vehicle charging station at a shopping centre in Pathum Thani province. (Photo: Apichit Jinakul)

Energy consumption is forecast to increase by 3.2% next year on projected economic growth and other data, the Energy Policy and Planning Office said on Friday.

EPPO director-general Wattanapong Kurovat said the estimate was based a growth in gross domestic product next year of 3-4%, a Dubai crude oil price of US$95-105 per barrel and the currency at 35.2 baht per US dollar.

Next year the consumption of energy in volume would be 2,111 kilo barrels of oil equivalent per day, up from this year's estimation of 2,056 KBOED, 3.2% higher than 1,993 KBOED in 2021, he said.

Demand for oil was expected to rise by 4.2% from this year at 810 KBOED and natural gas by 1.8% from 772 KBOED. Coal would likely go up by 1.1% from 401 KBOED and electricity use rise 3.1% from 203.85 billion kilowatt hours, Mr Wattanapong said.

He also said energy authorities were about to finalise National Energy Plan 2023 (NEP 2023), to be implemented from 2023 to 2037 and emphasise greenhouse gas reduction, energy security and alternative energy.

By the end of 2037, NEP 2023 would cut the percentage of gas-fired electricity generation from 60% to 40% and coal from 16% to 10%, and raise generation from renewable resources from 12% at present to over 50%. Imported electricity would remain unchanged at 15%.

EPPO deputy director-general Sarat Prakobchat said power generation under the new plan would open up chances for use of blue hydrogen and nuclear power, because they were renewable energy and gave off low emissions.



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