EGAT is a state-owned enterprise under the supervision of Ministry of Energy and Ministry of Finance. The principal mission of EGAT is electricity generation, electricity acquisition, and electricity sales to the Metropolitan Electricity Authority (MEA), the Provincial Electricity Authority (PEA), a umber of direct customers by law, and neighboring countries. EGAT is also responsible for other related businesses as stipulated by EGAT Act.

Core Business in Electricity

Electricity Generation

Electricity is generated from 53 EGAT power plants countrywide. With a total installed capacity of 16,920.32 MW, EGAT power plants consist of 3 thermal power plants, 6 combined cycle power plants, 30 hydropower plants, 9 renewable energy power plants (wind, solar, and geothermal), 4 diesel power plants, and 1 other power plant.          

Electricity Purchase

In addition to operating its own power plants, EGAT also purchases bulk electricity from 12 Independent Power Producers (IPPs) totaling 16,748.50 MW, from Small Power Producers (SPPs) totaling 9,195.08 MW, and from neighboring countries, namely Lao PDR and Malaysia totaling 6,234.90 MW.

Electricity Transmission

EGAT transmits electricity generated by its own power plants and electricity purchased from private power producers through its own grid network covering all parts of the country. EGAT’s transmission lines comprise different voltages ranging from 500 kV, 230 kV, 132 kV, 115 kV, and 69 kV. EGAT sells electricity to its direct customers and to MEA and PEA to distribute electricity to their retail customers countrywide. Moreover, EGAT also sells electricity to the power utilities of neighboring countries, namely Lao PDR at 115 kV and 22 kV lines and Malaysia at 300 kV HVDC lines.

Other Businesses

EGAT Related Business

         In 2022, EGAT performed business transactions conforming to the strategy for generating income from its capability and resources. With more than 50 years of experience and expertise in electricity, EGAT is entrusted by local and foreign organizations to provide one-stop quality services in electricity, including engineering and construction of power plant and transmission system, power plant operation and maintenance, and transmission system maintenance, to outside customers consisting of Independent Power Producers (IPPs), Small Power Producers (SPPs), and other industrial power plants. EGAT also has other businesses, namely by-products from electricity generation and telecommunication service. In addition, EGAT has expanded its business to other ASEAN countries.

• Engineering and Construction of Power Plants and Transmission System Business: EGAT provides services of feasibility study, selection of qualified subcontractors, engineering consultants to project owners, commissioning test, and power plant acceptance. Moreover, EGAT provides services in engineering consultancy for lenders, technical consulting, technical consulting for company mergers or acquisitions, and specialized studies concerning electricity generation projects.

• Power Plant Operation and Maintenance Business: EGAT’s services cover power plant operation and routine maintenance as well as the power plant maintenance, such as electrical maintenance, mechanical maintenance, mechanical repairing, mechanical testing and spare parts management, civil maintenance, and chemical maintenance.
  
  Moreover, EGAT has expanded its services to risk-based inspection and remaining life assessment of boiler, transformer and generator life assessment, PD online monitoring, and battery energy storage system (BESS). Cooperation has been made with the allies, such as Andritz and Delta India in order to increase skills and knowledge in power plant operation and maintenance and to jointly submit a tender. Furthermore, EGAT’s services include management of the needless assets to increase its value by selling according to the asset utilization strategy, submitting a tender for operation and maintenance for a combined cycle power plant in Malaysia, as well as technical advisory service in maintenance of Thang Long Power Plant in Vietnam.

• Transmission System Maintenance Business: It is EGAT’s policy to provide prompt quality services in this area to promote reliability and security of the electricity system of the country. Presently, EGAT provides academic consultancy services; procurement; scheduled, predictive, preventive, and corrective maintenance; and transmission development and renovation services.

• By-Product Business: EGAT has implemented the EGAT Circular Economy 2021 strategy as a goal in its operations. The strategy is in line with the National Plan (2018-2037) and the national policy of Carbon Neutrality or Net Zero Emissions. To achieve the goal, by-products from electricity generation of Mae Moh Power Plant in Lampang Province, such as lignite fly ash, lignite bottom ash, and synthetic gypsum will be used in concrete industry. In 2022, the use of lignite fly ash to substitute for cement could reduce carbon dioxide (CO2) emissions of 683,845 metric tons equivalent to planting 57.8 million trees.
  
  Moreover, in continuing to focus on product innovation development, EGAT has cooperated with the local leading educational institutions, researchers, and specialists in related fields in the development of the lignite by-products for maximum use, to promote sustainable efficiency of the products and respond to the market demand. In 2022, there were five research projects as follows:
  1. Utilization of flue gas desulfurization (FGD) gypsum to increase productivity of Jasmine rice in alkaline soil in the Northeast
  2. Development of bonding materials from the ash waste of Mae Moh Power Plant for construction and road improvement
  3. Development of potential in the utilization of bottom ash as asphalt concrete aggregate
  4. Study of concrete property with the mixture of high calcium fly ash and fly ash contaminated with ammonia and the determination of the maximum free lime and SO2 in concrete
  5. Development of innovation of pollution-free ceiling board from FGD gypsum 

• Telecommunications Business: EGAT has provided the telecommunications service through its fiber optic network in the high voltage system. EGAT has been granted license by the National Broadcasting and Telecommunications Commission (NBTC) to operate telecommunications business of Type 3 and International Private Leased Circuit (IPLC). EGAT’s optical network covers more than 20,000 km countrywide with over 250 substations. The optical network has been designed to run between the tops of high voltage transmission towers. The optical ground wire (OPGW) cable is surrounded by layers of steel and aluminum wires that are highly reliable.
  
  The services provided are dark fiber, domestic and international bandwidth, and Internet Protocol Multiprotocol Label Switching (IP MPLS) to public and private sectors. Moreover, EGAT is ready to support the country development in expanding 4G, 5G, and IoT (Internet of Things) network and other fundamental telecommunication networks in the future. EGAT also supports the governmental policy of digital economy in integrating the network infrastructure, such as 5G with Artificial Intelligence (AI), Big Data, and Cloud Edge data processing system in digital platform.

EGAT Group

EGAT has invested in electricity generation and energy-related businesses in the following 7 companies:

Subsidiary Companies

• RATCH Group Public Company Limited (RATCH)

   Nature of Business

RATCH was established as a holding company on March 7, 2000. As a holding company, RATCH gets dividends from its subsidiaries and joint venture as main revenue.

The company focuses mainly on investing, developing, and joining with the business allies in different projects, both in Thailand and other countries. Three types of business and investment are as follows:

1. Electricity generation business comprising fossil-fuel power plants (base-load), renewable energy power plants, and power plants in foreign countries
2. Infrastructure system development comprising transport system, waterworks system, telecommunication network, Internet of Things (IoT) technology, smart city development, smart transmission network, and health service business
3. Related businesses and others comprising power plant operation and maintenance, gas turbine equipment refurbishment, fuel supply, investment in stock market, and recruitment of power plant personnel

As of December 31, 2022, RATCH had a total installed capacity of 9,976.58 MW comprising 5,491.10 MW from domestic projects and 4,485.48 MW from overseas projects.

Shareholding

As of December 31, 2022, RATCH had a total registered capital of 2,219.23 million shares (equivalent to 22,192.30 million Baht). Its ownership structure is composed of 45% stakes held by EGAT and 55% stakes held by the general public.

• EGAT International Company Limited (EGATi)

   Nature of Business

EGATi was established by EGAT on December 18, 2007. The objective of EGATi is to represent EGAT in overseas investment in order to acquire electricity back to Thailand, to expand investment opportunity in electricity business and EGAT related businesses in order to create value-added, and to be beneficial for EGAT’s other businesses and Thailand.

At present, EGATi has 3 commercial projects which are in operation, namely Nam Ngiep 1 in Lao PDR, Adaro Indonesia in Indonesia, and Solar Power Plant in Taiwan which has the generating capacity according to the share of 93.75 MW. Four projects which are in the process of development/request for investment approval are Upper Salween Hydropower (Mong Ton) in Myanmar, Nam Ngum 3 Hydropower in Lao PDR, investment in Idinvest Smart City II Fund in France, and BESS Project of 944.55 MW in Taiwan.

As of December 31, 2022, EGATi had a total installed capacity of 1,038.30 MW from overseas projects.

Shareholding

As of December 31, 2022, EGATi had a total registered capital of 1,219.74 million shares (12,197.4 million Baht). EGAT holds 99.99% stakes in EGATi.

• EGAT Diamond Service Company Limited (EDS)

   Nature of Business

EGAT Diamond Service Co., Ltd. (EDS) is a joint venture business founded on December 15, 2009 by EGAT, Mitsubishi Power Asia Pacific Pte. Ltd. (MPW-AP), Mitsubishi Corporation (MC), and RATCH Group Public Co., Ltd. (RATCH). The objective of the company is to provide refurbishment work for the hot gas path parts of gas turbine in 18 countries, namely Thailand, Malaysia, Singapore, Lao PDR, Myanmar, Vietnam, Cambodia, Brunei, Australia, New Zealand, India, Pakistan, Bangladesh, Sri Lanka, Bhutan, Nepal, Afghanistan, and Maldives.

The Gas Turbine Refurbishment Service Center which is located in Navanakorn Industrial Estate, Pathum Thani Province has started its commercial operation in May 2011.

Shareholding

As of December 31, 2022, EDS had a total registered capital of 6.23 million shares (623 million Baht). Its ownership structure is composed of EGAT, MPW-AP, MC, and RATCH with the portion of 45%, 30%, 15%, and 10% stakes respectively.

Associated Company

• Electricity Generating Public Company Limited (EGCO)

   Nature of Business

EGCO was established as a holding company by EGAT on May 12, 1992. Its revenues are mainly from dividends of subsidiaries and joint venture.

EGCO focuses mainly on electricity business in Thailand and abroad as well as energy-related businesses. Businesses of EGCO can be categorized into two groups as follows:

1. Electricity business in Thailand, Lao PDR, Philippines, Indonesia, Australia, South Korea, Taiwan, and USA by generating electricity from different kinds of fuels
2. Energy-related business, such as energy service, coal mining, oil pipeline business, clean energy project development, online platform service, and natural gas acquisition and wholesale business

As of December 31, 2022, EGCO had a total generating capacity of 6,147.41 MW consisting of 3,197.59 MW from domestic projects and 2,949.82 MW from overseas projects.

Shareholding

As of December 31, 2022, EGCO had a total registered capital of 530 million shares (5,300 million Baht) of which 526.465 million shares (5,264.65 million Baht) were issued and paid-up. EGCO’s shareholders are EGAT (25.41%), TEPDIA Generating B.V. (23.94%), and the general public (50.65%).

Joint Venture

• District Cooling System and Power Plant Company Limited (DCAP)

Nature of Business

DCAP is a joint venture business founded on April 2, 2003 by EGAT, PTT Public Co., Ltd. (PTT), and Metropolitan Electricity Authority (MEA). The objective of the company is to generate and sell electricity and cooling water to the Suvarnabhumi International Airport.

As of December 31, 2022, DCAP had electricity generating capacity of 99.08 MW and total cooling water producing capacity of 45,000 RT.

At present, the company is in the process of developing solar energy system project in the area of Suvarnabhumi International Airport.

Shareholding As of December 31, 2022, DCAP had a total registered capital of 167 million shares (1,670 million Baht). Its ownership structure is composed of EGAT, PTT, and MEA with the proportion of 35%, 35%, and 30% stakes respectively

•  INNOPOWER Company Limited

Nature of Business

INNOPOWER Co., Ltd. (EDS) is a joint venture business founded on September 13, 2021 by EGAT, Electricity Generating Public Co., Ltd.(EGCO), and RATCH Group Public Co., Ltd. (RATCH). The objective of the company is to develop and make commercial use of the research and innovations as well as investment in future energy for the benefit of economy, society, and environment, and to invest and promote the startup in energy industry having significance to EGAT and EGAT Group in the future.

Shareholding

As of December 31, 2022, INNOPWER Co., Ltd. had a total registered capital of 6 million shares (600 million Baht). Its ownership structure is composed of EGAT, EGCO, and RATCH with the portion of 40%, 30%, and 30% stakes respectively.

Investment

• InnoSpace (Thailand) Company Limited

Nature of Business

InnoSpace (Thailand) Co., Ltd. founded by the cooperation of 21 public and private sectors on January 14, 2019 has the objective to promote and develop Thai startups to pioneer in mobilizing economic development of the country.

Shareholding

As of December 31, 2022, InnoSpace (Thailand)Co., Ltd. had a total registered capital of 735,010 shares (735.01 million Baht) of which 183.75 million Baht was paid-up. Its ownership structure is composed of EGAT and other partners in proportion of 13.605% and 86.395% stakes respectively.

EGAT’s Investment in EGAT Group

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