BANGKOK (NNT) – The Federation of Thai Industries (FTI) has suggested that a recent decision to hike electricity prices by 20% in early 2023 will push up inflation and undermine Thailand’s competitiveness just as the economy has started to gradually recover from the pandemic.

Citing higher fuel costs, the Energy Regulatory Commission said the power tariff for businesses will increase by 20.5% to 5.69 baht ($0.1640) per unit from January to April, with that of households remaining at 4.72 baht.

The FTI, which includes representatives from industry, banking and commerce, urged the government to delay the price hike as manufacturers would be forced to increase the price of goods.

Full story: National News Bureau of Thailand

Reporter: Paul Rujopakarn,
Rewriter: Paphamon Arayasukawat
National News Bureau of Thailand