The share price of B.Grimm Power Public Company Limited (SET: BGRIM) was leading the loss among the power generator stocks in the morning session on Monday as the government expected to further reduce electricity prices.
BGRIM fell THB0.75 or 2.33% to close the morning session at THB31.50 per share.
As the new government is rolling out stimulus measures, electricity prices reduction is among plans set to relieve burden from high cost of living.
The Thai cabinet just approved a further reduction of electricity prices to THB3.99/unit for the period starting from September to December 2023.
This is on top of the recent reduction that lowered prices to THB4.1/unit, which posted negative sentiment to companies with a high number of SPPs in operators, notably BGRIM and GPSC.
Further details are expected to be released within this week.
Krungsri Securities (KSS) noted that it still prefers Gulf Energy Development Public Company Limited (SET: GULF) due to its limited impact from the reduction.
The share price of Global Power Synergy Public Company Limited (SET: GPSC) fell THB0.75 or 1.49% to THB49.75 per share. Meanwhile, GULF dropped THB0.50 or 1.07% to THB46.25 per share.
