Thailand Ft History Every Period, 2020 → Now (2026)
Every Ft (variable fuel charge) the ERC has announced from 2020 to the latest period, in one table — the full rise, the 2023 crisis peak, and where it stands today.
The current Ft (May–Aug 2026) is 0.1623 THB/unit (16.23 satang/unit), set by the ERC. Over the longer arc, Thailand's Ft spiked during the 2023 energy crisis (above 0.91 THB/unit) and has since fallen steadily as LNG/natural-gas prices and the baht eased. The table below lists every Ft period from 2020, sourced from the ERC/PEA/MEA. For the live current figure see the current electricity tariff page, and to understand the charge read what the Ft is and who sets it.
Full Ft History Table by Period (2020–2026)
Ft is shown in THB/unit (with satang/unit in parentheses). A negative value is a credit (Ft below the base tariff). The ERC adjusts Ft roughly every 4 months (Jan–Apr / May–Aug / Sep–Dec periods).
| Period | Ft (THB/unit) | (satang/unit) | Note |
|---|---|---|---|
| Jan–Aug 2020 | -0.1160 | -11.60 | Credit (negative Ft) |
| Sep–Dec 2020 | -0.1243 | -12.43 | Credit (negative Ft) |
| Full year 2021 | -0.1532 | -15.32 | Full year (single rate) |
| Jan–Apr 2022 | 0.0139 | 1.39 | |
| May–Aug 2022 | 0.2477 | 24.77 | |
| Sep–Dec 2022 | 0.9343 | 93.43 | |
| Jan–Apr 2023 | 0.9343 / 1.5492 | 93.43 / 154.92 | Residential 93.43 / other incl. factories 154.92 |
| May–Aug 2023 | 0.9119 | 91.19 | Peak (energy crisis) |
| Sep–Dec 2023 | 0.2048 | 20.48 | |
| Full year 2024 | 0.3972 | 39.72 | Full year (single rate) |
| Jan–Apr 2025 | 0.3672 | 36.72 | |
| May–Aug 2025 | 0.1972 | 19.72 | |
| Sep–Dec 2025 | 0.1572 | 15.72 | |
| Jan–Apr 2026 | 0.0972 | 9.72 | |
| May–Aug 2026 | 0.1623 | 16.23 | Current period |
| Sep–Dec 2026 | Awaiting ERC announcement | — | Awaiting ERC announcement |
* Jan–Apr 2023 was the only period the ERC set two Ft rates: 93.43 satang/unit for residential and 154.92 satang/unit for other users (including factories/businesses), before returning to a single uniform rate.
† The Sep–Dec 2026 Ft will be added once the ERC announces it officially (typically late August) — this page does not guess the figure in advance.
Next update: when the ERC announces the Sep–Dec 2026 Ft (typically late August).
Why the Ft Rose, Then Fell
Ft tracks the fuel cost of generating electricity that the base tariff does not cover — primarily natural gas and imported LNG, plus the baht exchange rate. When those move, Ft moves with them.
2020–2021: Negative (COVID era)
Oil and gas prices slumped during COVID, pushing Ft negative (a credit against the base tariff), bottoming around -0.1532 THB/unit in 2021.
2022–2023: The Spike (energy crisis)
Russia–Ukraine war drove global LNG prices up, and a weak baht amplified it: Ft jumped from near zero in early 2022 to a peak of 0.9343 THB/unit (late 2022), holding around 0.91 THB/unit in mid-2023 — the most expensive electricity in Thai history.
2024–2026: The Steady Decline
As global LNG eased and the government wound down support, Ft fell from 0.3972 THB/unit (2024) to 0.0972 THB/unit in early 2026, then ticked up slightly to 0.1623 THB/unit in the current period (May–Aug 2026) as gas prices fluctuated.
What Ft Swings Mean for a Factory Bill
Ft multiplies every unit consumed, so the more power you use, the bigger the swing in baht. Example: a factory drawing 500,000 units/month — at the 0.9343 THB/unit peak (2022), Ft alone was ~467,000 THB/month; at today's 0.1623 THB/unit it is ~81,000 THB/month, a swing of ~386,000 THB/month from the Ft line alone. That is why locking in power cost with solar (self-generated behind the meter pays no Ft on the units you produce) is so valuable in a market where Ft swings this hard. See the full bill walkthrough at how to calculate a factory bill and the cost structure at factory electricity cost.
CapSolar helps factories lock in power cost with solar and cut their exposure to Ft volatility — 80+ MWp installed nationwide. Run your numbers in the solar calculator, or see the full current tariff and demand charge / TOU explained.
About this page
Compiled by the CapSolar team, led by Frank Lee (Founder). Every Ft figure is cross-checked against three official sources (ERC/PEA/MEA). This page is updated each time the ERC announces a new Ft period (every ~4 months). Spot an error? Let us know.
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