targeted to be 19,684 megawatts in 2036. In 2017, the government has continuously promoted power generation from renewable energy occupied with lower development cost. This resulted in a continuous growth of

Page 2 Management Discussion and Analysis 1. Power Industry and Competition 1.1 Electricity industry and Economic situation in Thailand Thailand’s economy expanded by 2.4 percent in 2019, lower than 2018

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for 3 months to Advance Power Conversion Co., Ltd. (“APCON”), the associated company and connected person, in the amount of loan 30 million baht which will be due on May 13, 2020. The details of

assistance period for 3 months to Advance Power Conversion Co., Ltd. (“APCON”), the associated company and connected person, in the amount of loan 30 million baht, the details of transaction as follows; 1. The

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and continuous raining as well as the increase of Independent Power Supply (IPS) and Small Power Producer (SPP) outside the EGAT system. In the meantime, electricity consumption of the country in EGAT

PowerPoint Presentation THE INNOVATIVE POWER FLAGSHIP OF PTT GROUP MANAGEMENT DISCUSSION & ANALYSIS MD&A Q3/2019 PAGE 1 MANAGEMENT DISCUSSION & ANALYSIS (MD&A) Q3 2019 On the 9th October, after

government spending into infrastructure projects which lead to a continuous growth of Thailand’s electricity consumption. The trend of the power industry in the second half of 2017 is estimated to be lower

12,416 12,811 Gross profit margin (%) 25.47% 26.48% 27.29% Consolidated financial ratios 2017 2016 2015 Financial data and profitability ratios (continuous) Operating expense (include Research and