Ratchaburi Electricity Generating Holding PCL.
205
Ratchaburi Electricity Generating Holding Public Company Limited and its subsidiaries
Notes to the financial statements
84
Operation and Maintenance Agreement
On 2 January 2013, Ratchaburi Energy Company Limited, a subsidiary, entered into an Operation and
Maintenance Agreement with a service provider having operation service fee of approximately Baht
6.03 million per year. The agreement is effective for a period of one year ended 31 December 2013,
which can be extended for a period of one year, with a rate of approximately 6.03 million per year.
Fuel Purchase Agreements
On 27 October 2000, Ratchaburi Electricity Generating Company Limited, a subsidiary, entered into a
25-year Gas Sales Agreement with PTT Public Company Limited (“PTT”) whereby PTT will supply
natural gas to the subsidiary at an agreed quantity and price.
On 1 June 2004, Ratchaburi Electricity Generating Company Limited, a subsidiary, entered into a 3-
year Diesel Purchase Agreement with PTT Public Company Limited (“PTT”), which can be extended
for a period of one year until the end of contract. However, without the six-month advance written
notice designated the intention to terminate the contract from PTT, PTT would sell diesel to the
subsidiary at the agreed quantity and price as stated in the contract.
On 17 January 2006, Ratchaburi Energy Company Limited, a subsidiary, entered into a Gas Sales
Agreement (gas is a by-product from crude oil production) with PTTEP Siam Company Limited and
PTT Exploration and Production Public Company Limited for its 2 Megawatts power plant project
(PTO-A) and 0.9 Megawatts power plant project (PTO-A (EX)) with the initial price of Baht 26.65 per
1 million B.T.U. for eight years from the date of commencement of commercial operation, which was
27 June 2007 and 2 December 2010, respectively.
On 29 June 2011, Ratchaburi Energy Company Limited, a subsidiary, entered into a Gas Sales
Agreement (gas is a by-product from crude oil production) with PTTEP Siam Company Limited and
PTT Exploration and Production Public Company Limited for its 3.6 Megawatts power plant project
(STN-A) with the initial price of Baht 29.50 per 1 million B.T.U. for eight years from the date of
commencement of commercial operation on 26 January 2012.
Contractual
Service Agreement
On 29 December 2005, Ratchaburi Electricity Generating Company Limited, a subsidiary, entered into
a Contractual Service Agreement for the Combined Cycle Generating Power Plant between the
subsidiary and the Consortium of General Electric International Operations Co., Inc. and GE Energy
Parts, Inc. The agreement is effective from the agreement date until the end of the operation of gas
turbine according to Power Purchase Agreement in year 2027 with a total contract price of U.S.
Dollars 428.60 million with adjustments as conditions specified in the agreement. As at 31 December
2013, such subsidiary had outstanding commitments amounting to U.S. Dollars 232.20 million
(As at 31December 2012: U.S. Dollars 249.43 million).
In addition, in accordance with the agreement, such subsidiary is required to open a letter of credit
amounting to U.S. Dollars 6 million. As at 31 December 2013, such subsidiary had an unused letter of
credit amounting to U.S. Dollars 6 million
(As at 31 December 2012: U.S. Dollars 6 million)
Gas Gas Heater Element Purchase Agreement
On 22 May 2013, Ratchaburi Electricity Generating Company Limited, a subsidiary, entered into a
Gas Gas Heater Element Purchase Agreement with a local company with a total contract price of Baht
34.80 million. As at 31 December 2013, such subsidiary has outstanding commitments amounting
Baht 3.48 million.
Notes to the financial statements
Ratchaburi Electricity Generating Holding Public Company Limited and its subsidiaries
