Thai power price hike to hurt business, competitiveness - business group

BANGKOK : Thailand's decision to hike electricity prices by 20 per cent in early 2023 will push up inflation and undermine the country's competitiveness as the economy recovers gradually from the pandemic, a leading joint business group said on Friday.

From January to April, the power tariff for businesses will increase by 20.5 per cent to 5.69 baht per unit, with that of households remaining at 4.72 baht, the Energy Regulatory Commission said earlier, citing higher fuel costs. "The hike will have a severe impact on people's costs of living and the cost of the manufacturing and service sectors still in recovery," said Isares Ratanadilok Na Phuket, vice chairman of the Federation of Thai Industries.

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