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Bangkok Post
3 days ago
- Business
- Bangkok Post
Fresh hope for clean energy targets
The new deadline for implementation of the much-delayed power development plan (PDP) offers a blueprint for Thailand to align with its clean energy goals. Prasert Sinsukprasert, energy permanent secretary, expects the PDP to take effect from 2025 to 2037, with enforcement starting by the end of this year following a major revision required by energy analysts. Thailand expected to start using the new PDP last year, but maintained the 2018 version, which stalled plans to raise renewable energy development. Under the new PDP, the country aims to have renewable energy comprise 51% of total fuel use by 2037, up from the 22% target in the preceding PDP. At the end of 2023, Thailand's renewable energy proportion tallied 20%. The renewable energy target and a reasonable projection of electricity demand over the next 12 years were among the issues discussed during the PDP revision. The Explainer looks into the debate and the impact for Thailand if changes to the PDP are not quickly finalised and forwarded to the National Energy Policy Council for approval. Is a 51% contribution from renewable energy adequate? Energy analysts want the government to increase the proportion of renewable energy to support plans to cut carbon dioxide emissions. The PDP does promote greater use of renewable power, but the proportion is too low, raising doubts over whether it will help Thailand achieve its net-zero target, said Naruechon Dhumrongpiyawut, chief executive of Gunkul Engineering, an integrated clean energy developer. Former premier Prayut Chan-o-cha announced in 2021 at the 26th UN Climate Change Conference that Thailand would be more aggressive in addressing climate change, striving to reach carbon neutrality, a balance between carbon dioxide emissions and absorption, by 2050 and a net-zero target, which is a balance between greenhouse gas emissions and absorption, by 2065. Some other nations in Southeast Asia set 2050 as their target for net-zero, meaning Thailand could be slower to curb greenhouse gases in the region. Areeporn Asawinpongphan, a research fellow at Thailand Development Research Institute, suggested the government increase renewable energy development by using more solar power. Authorities are not prioritising solar energy and battery technology, though their prices have begun to decline, she said. "We would like the government to specify clearly in the PDP an electricity generation target from solar energy," said Ms Areeporn. Rooftop solar panels can help businesses and households save on electricity bills, which can become expensive if oil and gas prices fluctuate in the global market. Thailand increasingly depends on costly imported liquefied natural gas for power generation as the cheaper domestic gas supply is dwindling. As solar power generation costs are not expensive, the government should take this opportunity to invest more in the development of this type of renewable energy, as well as an energy storage system to ensure a steady supply of electricity, she said. Natural gas comprises 60% of the fuels used for Thailand's power generation and will likely continue to be a crucial fuel for electricity supply, said Kurujit Nakornthap, executive director of the Petroleum and Energy Institute of Thailand. "We want to go green, but efforts must be done at a measured pace," he said. Natural gas is expected to be a key fuel for the world over the next 30-40 years as countries transition to clean energy, said Mr Kurujit. The government is aware of calls by energy analysts for more renewable energy promotion and is considering an appropriate target for carbon dioxide emission reductions, said Mr Prasert, the energy permanent secretary. Should Thailand's power demand projection be changed? The estimation of power demand in the 2024 PDP follows the same miscalculation of the nation's long-term electricity consumption that has been made over the past 28 years, said Ms Areeporn. The PDP expects power demand in Thailand to increase to 112,391 megawatts by 2037, up from 51,000MW in 2024. "If the projection is not changed, electricity users will shoulder unnecessary costs caused by the construction of new power plants," she said. The additional costs, widely known as an availability payment (AP), commits the government to pay for electricity throughout an entire period under power purchase agreements made with companies, though the actual usage may be less during that time frame. The AP benefits electricity suppliers but increases the power tariff, which is used to calculate electricity bills. Are there negative impacts if Thailand does not finalise the PDP? Delays in implementing the PDP can affect the country's attempts to draw foreign investment, said Ms Naruechon. If the PDP is not approved, Thailand cannot enforce the National Energy Plan, designated to take effect between 2024 and 2037 and serve as a roadmap for a low-carbon society. The PDP is among five long-term energy management plans in the National Energy Plan. The others are the oil plan, the gas plan, the alternative energy plan and the energy efficiency plan. The postponement of the National Energy Plan is an obstacle for Thailand, which needs to attract foreign investors who demand clean energy to operate their businesses, said Ms Naruechon. Though Thailand may develop attractive investment incentives for foreign companies, they are unlikely to quickly expand their businesses here if the promotion of renewable energy supply is unclear, she said.
Bangkok Post
02-07-2025
- Business
- Bangkok Post
Power plan to be completed by year-end
The oft-delayed power development plan (PDP) is expected to be completed within this year following a revision, said Prasert Sinsukprasert, energy permanent secretary. Authorities need to revise key electricity generation issues in the PDP due to objections raised by energy analysts, though it sailed through a public hearing last year. The government finished drafting the PDP, which is scheduled for implementation from 2024 to 2037, in May 2024, but the National Energy Policy Council (NEPC) has yet to provide final approval. Energy analysts have requested adjustments to the PDP, which need to be considered before it is forwarded to the NEPC, chaired by the prime minister. Experts want the government to determine an appropriate target for carbon dioxide emission reductions, as the new PDP promotes greater use of renewable energy, said Mr Prasert. They also want a more realistic projection of Thailand's electricity demand in the long term, he said. Mr Prasert's comments were made as he presided over the 2025 Asia Sustainable Energy Week, which highlights energy technologies and solutions that promote clean energy. The three-day event got underway on Wednesday. Under the PDP, total electricity generation in Thailand is expected to stand at 60,208 megawatts by the end of the plan, comprising 34,851MW from renewable power, 6,300MW from combined cycle power plants, which use gas and steam turbines to generate electricity, 600MW from thermal power plants or small modular nuclear reactors, 3,500MW from electricity imports and 2,000MW from other forms of energy. The remaining 12,957MW would come from two types of energy storage technologies -- 10,485MW from battery energy storage systems and 2,472MW supplied by a pumped storage hydropower system. Areeporn Asawinpongphan, a research fellow on energy policy at Thailand Development Research Institute, said earlier this version of the PDP could lead to overinvestment in new power plant development, though power demand may not increase considerably between 2024 and 2037. This uptick in investment would raise electricity prices, driving up the cost of living for people, she said. Another factor that caused a delay to the PDP enforcement involves what should be an appropriate renewable energy proportion set by the Energy Ministry. The state's push for the second-phase renewable scheme with capacity of 3.6 gigawatts has been put back, following a dispute on criteria that gives a larger quota of renewable energy development to firms that failed to win renewables projects in an auction under the first phase of the scheme.
Yahoo
26-06-2025
- Business
- Yahoo
Corn Weakness Extending to Thursday AM Trade
Corn price action is steady to a penny lower on Thursday morning. futures settled Wednesday with losses of 6 to 7 ¼ cents across most contracts to extend to new contract lows for several front months. Lack of a threatening forecast moving into July is putting pressure on the market. Preliminary open interest was up 29,604 contracts on Wednesday, with exception to Jult The front month CmdtyView national average Cash Corn price was down 6 cents at $3.87 1/2. The Wednesday EIA report showed ethanol output pulling back 28,000 barrels per day in the week that ended on June 20 to 1.081 million bpd. That was a 4-week low. Stocks of ethanol were up 284,000 barrels to 24.404 million barrels. Ethanol exports were down 53,000 bpd wk/wk to 110,000 bpd, with refiner inputs of ethanol up 3,000 bpd to 913,000 bpd. Gasoline product supplied (implied gasoline use) was the largest since December 2021 at 9.688 million bpd. Coffee Prices Extend 2-week Plunge as Frost Risks Recede in Brazil Have the Wheels Fallen Off the Corn Market? Coffee Prices Continue to Fall on Reduced Frost Risk in Brazil Our exclusive Barchart Brief newsletter is your FREE midday guide to what's moving stocks, sectors, and investor sentiment - delivered right when you need the info most. Subscribe today! Export Sales data will be released this morning, with the trade looking for between 0.5 and 1.2 MMT of old crop corn sold in the week that ended on June 19. Sales for 2025/26 are estimated to total between 100,000 and 350,000 MT. USDA will release their June Acreage report on Monday. Traders are looking for an average of 95.4 million acres planted this spring, which would be slightly below the March Intentions report. The range of estimates is a wide 93.8 to 96.8 million bushels. Brazil is raising their level of ethanol mandated to be mixed with gasoline from 27% to 30% after approval from the National Energy Policy Council. Jul 25 Corn closed at $4.10 1/4, down 6 cents, currently unch Nearby Cash was $3.87 1/2, down 6 cents, Sep 25 Corn closed at $4.05, down 7 1/4 cents, currently down 1/2 cent Dec 25 Corn closed at $4.22 1/2, down 6 1/2 cents, currently down 1 cent New Crop Cash was $3.79 1/4, down 6 1/2 cents, On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on Sign in to access your portfolio
Business Recorder
26-06-2025
- Business
- Business Recorder
Chicago soybeans hover near 11-week low despite modest rebound
BEIJING: Chicago soybean futures edged higher on Thursday but remained near an 11-week low as favourable U.S. Midwest weather and selling pressure weighed on the market. The most active soybean contract rose 0.05% to $10.19 per bushel, following four sessions of consecutive losses. Warm, rainy weather has created ideal conditions for soybeans and corn crops. Selling pressure ahead of the first notice date for the July soybean, wheat and corn contracts added to the bearish tone. In Brazil, the National Energy Policy Council (CNPE) on Wednesday approved increasing the level of biofuels mixed into fossil fuels. The move could boost domestic demand for soyoil as a key biofuel feedstock. Corn dropped 1.16% to $4.05-4/8 a bushel, hitting its lowest level since October, pressured in part by expectations of a large Brazilian crop. Chicago soybeans rebound after early pressure from weaker soyoil; corn, wheat dip Wheat eased 0.05% to $5.44-2/8 a bushel, weighed down by ample global supply outlooks and favourable weather. Agricultural consultancy Sovecon said on Wednesday it had slightly raised its forecast for Russian wheat production for 2025 to 83.0 million metric tons, citing improved crop conditions in parts of central Russia. Traders are watching for the U.S. Department of Agriculture's crop progress and quarterly stocks reports due Monday. Commodity funds were net sellers of Chicago Board of Trade corn, soybeans, wheat and soymeal futures contracts on Wednesday, traders said. Traders were net buyers of soyoil contracts.
See - Sada Elbalad
18-02-2025
- Business
- See - Sada Elbalad
Brazil Officially Enters OPEC+ Ahead of UN Climate Summit
On Tuesday, Brazil solidified its status as a significant player in the global oil market by officially joining OPEC+, the influential coalition of oil-producing nations. This strategic move comes as Brazil gears up to host the upcoming United Nations Climate Summit in just nine months. The approval by Brazil's National Energy Policy Council followed an official invitation from OPEC in 2023. OPEC+ includes 12 core OPEC members dedicated to coordinating oil production for market stability, alongside 10 additional prominent oil-producing nations, with Russia as a notable member. At a press conference, Alexandre Silveira, Brazil's Minister of Mines and Energy, emphasized that although Brazil will cooperate with other OPEC countries, it will not be subject to mandatory production cuts. Silveira highlighted the importance of OPEC+ as a strategic forum for oil producers, advocating that Brazil should embrace its role in the oil sector to foster economic growth, development, and job creation.
