A top executive for Thai energy company PTT says large companies should develop a corporate energy management strategy to immunize their businesses against energy price volatility.
PTT is a Thai, state-owned oil and gas company that owns extensive gas pipelines and liquefied petroleum gas terminals and is involved in electricity generation.
Chodechai Suwanaporn, executive vice president of energy and economics policy for PTT, told The Nation that corporate executives should look at four areas for their energy strategy: security of supply, security of price, energy efficiency and environmental sustainability.
Security of supply. Suwanaporn recommends fuel diversity, energy storage, on-site generation and renewable resources as ways to secure a company’s energy supply.
Security of price. To avoid the risks associated with huge price swings, Suwanaporn says corporations should hedge energy price volatility, especially for energy-intensive businesses. And companies should develop contingency plans for “catastrophic events,” he says in The Nation.
Energy efficiency. On the demand-side of the business, executives should implement energy efficiency programs, especially easy measures such as installing energy efficient lighting and building energy management systems.
Environmental sustainability. Suwanaporn recommends new energy technologies as the way of the future, citing ethanol, biofuels, fuel storage, flywheels, batteries and renewable energy sources such as wind and solar.