Bangkok: The Energy Regulatory Commission (ERC) is preparing for the potential doubling of LNG prices due to the ongoing Middle East conflict, and is set to discuss a new electricity tariff schedule by the end of March.
According to Thai News Agency, Mr. Poolpat Leesombatpaiboon, Secretary-General of the ERC and spokesperson for the commission, stated that the escalating tensions involving Iran, Israel, and the United States have led to the closure of the Strait of Hormuz. Furthermore, attacks on gas production facilities in Qatar have caused the spot price of LNG to spike to US$25 per million BTU, up from US$12. This increase is expected to impact electricity costs for the upcoming billing period, which spans from May to August 2026.
The initial estimates suggest that the fuel adjustment charge (Ft) might rise by up to 0.58 baht per unit, from the current rate of 3.88 baht per unit. The ERC is actively monitoring the situation and aims to finalize the figures by the end of March.