Energy Minister Aeknat declared that on 7 Apr he will immediately overhaul the energy structure, freeze electricity prices at 3.88 baht per unit, cut refining costs to lower oil prices for Songkran, and crack down on hoarding gangs.
On 2 Apr 2026, Mr. Aeknat Prompan, Energy Minister, said in an interview on the program "Inside Thailand" that upon officially taking office, especially regarding the electricity price recently raised by the Energy Regulatory Commission (ERC) to 3.95 baht per unit for May-Aug, the government via the National Energy Policy Committee (NEPC), chaired by the Prime Minister, has the authority to review and freeze the electricity price at the previous average rate of 3.88 baht per unit. This will be done by managing funds from the three electricity authorities (EGAT, MEA, and PEA), which are state enterprises fully owned by the state, by utilizing unused investment funds (Claw Back) or requesting profit-sharing from the authorities, currently about 9 billion baht, to reduce the new electricity tariff. Additionally, performance indicators (KPIs) will be adjusted to avoid affecting bonuses and employee morale in the electricity authorities.
Furthermore, there will be a long-term electricity structure overhaul by allowing direct power purchase agreements (Direct PPA) between producers and users, expanding the quota for buying electricity from households with solar panels beyond the current 90 megawatts, and increasing user categories to encourage demand response management during low production cost hours, which will help reduce overall electricity costs.
Regarding oil prices, Mr. Aeknat said that immediately after taking the oath on 6 Apr, he will use his authority as chairman to call a meeting of the Energy Policy Administration Committee (EPAC) on the morning of 7 Apr. He is studying the law to determine if a policy statement to parliament is required first but believes a way can be found to avoid waiting too long, allowing the meeting to proceed and order a review of the oil pricing formula, especially refining costs, which have abnormally surged from 2-3 baht to nearly 13-14 baht per liter. A ceiling on refining costs will be set at a reasonable level around 3-4 baht per liter to prevent excessive increases that would burden consumers. This will lower refinery gate prices and consequently pump prices without needing to use the Oil Fund to subsidize, aiming to complete the price formula adjustment before the Songkran festival.
Mr. Aeknat stated that operators hoarding oil for speculation or illegally smuggling oil are being monitored by the government, which has 30-day historical transaction data showing anomalies, such as sudden jumps from hundreds of thousands to millions of baht in daily trades. Those involved must stop, and past offenders will be prosecuted without exception.