The source said the new minister especially wants to have an independent regulatory body to direct and oversee the country's energy businesses, including the power supply and natural-gas production.

The body will exercise transparency and fairness similar to the Bank of Thailand.

The source said an independent regulatory body under the government's direction would make the energy industry show fairness in competition and boost investor confidence.

He said currently there was the Electricity Regulatory Board to oversee the electricity industry but that it did

not have enough independence.

"The new minister will push for the establishment of a new regulatory body to oversee the power and natural-gas business," said the source.

The source added that in Piyasvasti's view, the regulatory body's directors should not hold seats on the boards of private energy-related companies.

Such conflicts of interest would affect the image of fairness and lower investor confidence.

Currently, C-10 officials at the Energy Ministry with seats on the boards of private energy companies include deputy permanent secretary Norkhun Sithipong, a director of Electricity Generating Plc (Egco); inspector Charoen Prajumtan, an independent director of Egco; Energy Policy and Planning Office director Metta Banterngsook, a director of PTT Plc; and Energy Business Department director-general Panich Pongpiroj, a director of Ratchaburi Electricity Generating Holding Plc.

Watcharapong  Thongrung

The Nation