IEC SK1 Co., Ltd., the present 100% subsidiary of The International Engineering Public Co.,Ltd. (“the Company”), has applied for change of electricity purchase tariff from the Adder scheme to the Feed-in Tariff (Fit) one with Provincial Electricity Authority (PEA) since the 14th July 2016. The letter already responded back for having SK1 to enter the agreement of such tariff change within 15 days from the date of receiving such the notification letter of PEA on the 5th September 2016
Such new FiT scheme will be retroactive on the 11th March 2016 onwards. The remaining life of this scheme is 13 years and 30 days (expiry date at the 9th April 2029) whereby the FiT Premium rate is at THB 4.54/unit over the first 35 months and one day (expiry date at the 9th April 2021) and the normal rate of FiT will be applied later at THB 4.24/unit till the expiry date of the 9th April 2029.
The Company believes that SK1’s performance will be picking up after it has entered such agreement of tariff change to FiT as the latest average tariff under Adder scheme (including the wholesale electricity purchase price and Ft) in July 2016 is THB 3.255/unit vis-à-vis THB 4.54/unit under FiT scheme, leaving SK1 to enjoy additional income of THB 1.285/unit.
Source: IEC investor relations
07/09/2016