42
Annual Report
2013
Income Structure
Income Structure of the Company,
Subsidiaries and Jointly-controlled Entities
The Company’s main source of income is the
sales of electricity generated by Ratchaburi Electricity
Generating Company Limited to EGAT under the 25-
year power purchase agreement. Ratchaburi Power
Plant’s income structure under PPA includes two
main parts as follows:
1. Availability Payment (AP)
Availability Payment (AP) covers the entire
investment cost, including loans, loan interests,
shareholders’ return, fixed operational costs, such as
maintenance expenses and management expenses.
Generally AP depends on the power plant’s readiness
to produce and distribute electricity according to
EGAT’s requirement.
2. Energy Payment (EP)
Energy Payment (EP) is received after power is
generated and transmitted to the EGAT’s distribution
system. EP comprises two major parts:
1. Fuel Payment
2. Variable Operating and Maintenance
Payment
Inaddition to themain incomewhich is power sales
received from Ratchaburi Power Plant, the Company
has consolidated power sales from RATCH Australia
Corporation Limited (RAC) whose main income is
from the long-term power purchase agreement for
its thermal power plant and wind power plant. The
basic income structure according to the long-term
PPA for the thermal power plant includes:
1. Capacity Charge which is the total investment
including maintenance costs and Actual Capacity
Availability in power production and distribution as
stated in the PPA
2. Energy Charge which is received when
electricity is produced. This includes fuel payment
and variable operating and maintenance payment
Sales income from the RAC’s wind farms are
calculated by electricity generated times electricity
charge per unit.
The Company also has other sales and service
income as follows:
1. Electricity charge fromthe 2.65-MWPTOPower
Plant and the 3.6-MW Sao Thian Power Plant which
began commercial operation on 26 January 2012.
The PTO Power Plant and Sao Thian Power Plant are
located in Kong Krilat District in Sukhothai province.
Both produce electricity from associated gas from oil
rig operated by Ratchaburi Energy Company Limited,
which is the Company’s subsidiary.
2. Income from power plant operation and
maintenance service offered by RATCH-Lao Services
Company Limited, which is a subsidiary of the
Company and was established on 8 May 2009 under
Lao PDR’s act. RATCH-Lao Services’ income is from
providing services to Nam Ngum 2 Company Limited
as follows:
1) An agreement to provide operations
and maintenance service to the Nam Ngum 2
Hydroelectric Power Plant from 1 July 2009 until the
end of the power plant concession period.
2) An agreement to provide maintenance
service to the NamNgum2 Hydroelectric Power Plant
from 3 September 2012 for 7 years.
The Company also received income from jointly-
controlled entities in the electricity generating
business as follows:
1. Tri Energy Company Limited and Ratchaburi
Power Company Limited: Ratchaburi Gas Company
