Energy market opens up
Thailand has resumed liberalising its energy sector, opening it up to competition again after a decade of policy hiatus when global oil prices were well over US$100 a barrel. During this period, the costs of electricity and gas for the people were heavily subsidised by the government to lighten their burden. After oil prices collapsed in 2014, the military government started to gradually reduce these subsidies and other market distortions. A massive amount of money is to be poured into the sector over the next several years. But, it also means a great deal of work is in store for policymakers as they seek to maintain a fair playing field for everyone involved in the market. Businesses that have recently been freed up for the private sector to operate include the compressed natural gas station business, the import of liquefied petroleum gas, gas pipeline operation, gas transportation and the retail liquefied natural gas business.
