ERC Chairman Direk Lavansiri said from January to April, consumers will have to pay B3.76 per unit of electricity used, an increase of 4 satang, or 1.1 per cent.
The FT, which is added on to the standard rate for electricity, rises (or, theoretically, falls) depending on the international oil prices.
Mr Direk explained that since the 2011 central Thailand floods, the Electricity Generating Authority of Thailand (EGAT) had kept the FT rate unchanged, resulting in more than B10 billion in revenue losses.
He said the increase in the FT until April would help cut EGAT’s burden by half. Despite the FT rate adjustment, EGAT would have to continue to shoulder an extra cost of around B5.1 billion baht in order to help keep the cost of living down.
Mr Direk noted that the EGAT would recoup all its losses if the FT rate remained unchanged after April until the end of the year.