Krungthai XSpring

Krungthai XSpring is a full service broker. The company provides a wide range of investment services such as Securities Brokerage, Derivative Agent Business, Securities Borrowing and Lending, Securities Trading, Underwriting, Financial Advisory, Wealth Advisory, Private Fund Management and International Markets Securities Trading. 

In terms of credibility, Fitch Ratings has assigned Krunghtai XSpring a long-term rating of AA- and a national short-term rating of F1+ with stable outlook.

A full service Thai brokerage

Head of Research, Krungthai XSpring

Waraporn Wiboonkanarak

Head of Research

Thematic (Sector/Industry)

Thailand Energy / Thematic (Sector/Industry)

Global Power Synergy Company Ltd (GPSC TB)

<ul><li>The ERC's scenario (3), which maintains electricity tariffs and Ft charges for the May-August period, appears to be a positive momentum factor for SPP operators (providing positive sentiment for stock prices yesterday).</li><li>However, it contradicts the government's target policy of reducing electricity costs (awaiting Cabinet approval on electricity tariffs).</li><li>We maintain our view that Ft charges are on a downward trend (aligning with SPP operators transitioning their power purchase agreements with industrial users to gas-linked contracts). </li></ul>

The ERC's scenario (3), which maintains electricity tariffs and Ft charges for the May-August period, appears to be a positive momentum factor for SPP operators (providing positive sentiment for stock prices yesterday).However, it contradicts the government's target policy of reducing electricity costs (awaiting Cabinet approval on electricity tariffs).We maintain our view that Ft charges are on a downward trend (aligning with SPP operators transitioning their power purchase agreements with industrial users to gas-linked contracts). 

Industry Update: Energy (Power) - MARCH 12, 2025