SET inks MoU with EGAT to foster wholesale electricity market, towards ASEANs power trading hub

Event Calendar Press Releases Wednesday September 4, 2019 13:16
Bangkok--4 Sep--SET

The Stock Exchange of Thailand (SET) today signs a Memorandum of Understanding (MoU) with the state-owned Electricity Generating Authority of Thailand (EGAT) to jointly study product or platform development to prepare for wholesale electricity market, paving the way to become the electricity trading hub of ASEAN.

SET Senior Executive Vice President Soraphol Tulayasathien said that the MoU with EGAT aims to conduct the study on the reliable product or platform development to cater to the wholesale electricity market. SET has realized that a mechanism to maximize electricity management efficiency is important for both power producers and consumers.

"The cooperation is also in accordance with SET's vision "To Make the Capital Market 'Work' for Everyone". SET has continuously joined forces with every sector to develop capital market basic infrastructures, products and services that keep pace with the global market, while opening new business opportunities. Nowadays, business from all corners of the world, including utility which is the country's important basic infrastructure, must embrace for change stemmed from the competitive landscape," added Soraphol.

EGAT Deputy Governor - Administration Bhawana Aungkananuwat said that the purpose of this cooperation is to prepare for a new type of wholesale electricity market trading platform namely Capacity Market; a 3 - 5 years in advance capacity trading, and Energy Market; a daily energy trading, in order to support being the center of regional electricity trading. Moreover, it will help prepare for market liberalization and promote competition in the energy industry. The cooperation covers the study of the development of wholesale electricity market trading platform, energy industry model, energy trading mechanism, and wholesale power purchase agreement (both in advance and during the day). The cooperation between the two organizations is the start of energy industry development which uses market mechanism to increase energy management efficiency, ability to compete, and overall economy of the country.

The MoU covers one year period starting on from September 4, 2019-September 3, 2020. Both parties will jointly study readiness and develop business model for the wholesale electricity market, support information, and exchange knowledge for the benefit and progress of the study.

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