The Provincial Electricity Authority (PEA) revised down its forecast revenue this year to Bt230 billion from the previously estimated of Bt234.6 billion, due to the shrinking power demand in the provinces, said its governor.

Pracherd Sookkaew said yesterday that the provincial electricity demand has grown only 5 per cent this year, down from the previous estimation of 8 per cent, due to the slowing economy and the state ongoing campaigns of power conservation.

He added that this year the state enterprise is expected to post the net profit of Bt10 billion.

He said that next year PEA is expected to record the total revenue of Bt250 billion on the assumption that the electricity demand would be on the consecutive growth between 5 per cent to 6 per cent over the next five years.

The state enterprise has also planned to set up two subsidiaries to do the construction and engineering business and the job recruitment business, which will have registered capital of Bt100 million and Bt50 million, respectively.

Pracherd said that the Finance Ministry is considering the PEA plan to cerate the subsidiaries.

He added that PEA has an idea to raise fund from the stock market and employees if the two subsidiaries need huge cash.

In addition, the PEA has mulled to establish many more subsidiaries to generate and provide the electricity services on the comprehensive basis, ranging from installing the meters to the bill collection.

PEA and the Electricity Generating Authority of Thailand and PTT Plc already signed a Memorandum of Understanding to jointly develop the thermal power plant, which will be its new business.

PEA set aside the investment budget of Bt15 billion for this year and Bt18 billion for next year. One of its major investment plans is the establishment of seven automatic electricity distribution centres in the second phase, which costs around Bt8 billion. The project's tender process is expected be started early next year. The state enterprise will also invest Bt900 million on laying the submarine cable to Samui Island. The project is expected to start next month.

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