Utilities - Thailand: Thailand considers separate power tariff for data centers

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Utilities - Thailand: Thailand considers separate power tariff for data centers

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Utilities - Thailand

Thailand considers separate power tariff

for data centers

Industry Overview

What’s news? 17 June 2026

According to local newspapers, Thansettakij(6/16/2026). Thailand’s Ministry of Energy Equity

(MOE) is studying a separate electricity tariff for data centers, potentially creating a new ASEAN | Thailand

customer category with cost reflection in tariffs. Utilities

The proposal aims to ensure that data centers bear the full costs associated with power Narumon Ekasamut ^^^ Research Analyst

generation, transmission upgrades, and grid reliability, rather than passing these costs Kiatnakin Phatra Securities

onto general electricity consumers or resulting in no cross-subsidy issue disputes. +66narumon.ekas@kkpfg.com2 305 9086

Fair in our view SirichaiResearchChalokepunratAnalyst ^^^

We are of the view that the proposal is fair as it would provide a mechanism to screen Kiatnakinsirichai.chal@kkpfg.comPhatra Securities

the quality of data center investments in Thailand and reduce the risk of speculator or

zero-dollar projects. Most importantly, the measure should align with PDP2026’s power

infrastructure development in Thailand. The framework should also support the Exhibit 1: Stocks Mentioned

assumptions under PDP2026, which is expected to accommodate approximately 8.8GW Ratings and prices of stocks mentioned in

of electricity demand from data centers, equivalent to around 7.3GW of installed data report

center capacity in Thailand. Note that this size of data center is comparable to the BofA

benchmark for Malaysia. Stock Ticker Rating PO (Bt)

AMATA AMCXF U/P 19.00

Positive for utilities, industrial estates with data center GPSC XWODF Neutral 42.50