earners. The primary energy consumption in Q1/2018 has improved by 1.1% compare to Q1/2017 growing parallel to the overall economic performance which has risen mainly from the increase the exports and the

electricity has risen following the Weight Factor and the increase in price of natural gas. Comparing Q1/2019 vs Q4/2018 Comparing Q1/2019 vs Q1/2018YoYQoQ IPP PAGE 10PAGE 10 MANAGEMENT DISCUSSION & ANALYSIS

volume and average selling price of B100 products that has risen. 2. Gross profit was recorded at THB 2,588 million, a decline of 33% YoY, mainly from Total GRM which was USD 4.53 per barrel, compared to

partners and tumbling global trade volume, coupled with the stronger Baht which had relentlessly risen at a more pronounced rate than its trade partners’ and competitors’ currencies. Moreover, private

maintenance shutdown during Q4/2018 resulting in the higher Availability Payment. In addition, the revenue from selling electricity has risen following the increase in dispatch volume to EGAT. 1. IPP Operating

have risen abruptly, especially the rapid evolution of digital technology, intensified effects of climate change, and regulatory changes in the financial business. To cope with these issues, most