case of Thailand Tossaporn Supomai creator Shrestha, Ram M. Chairperson Bhattacharya, Sribas C. Examination Committee Lacrosse, Ludovic Examination committee Royal Thai Government Followships Scholarship donor text series technical report th Bangkok Asian Institute of Technology 2002 continuing eng 98 leaves : ill. The study presents an economic analysis of cogeneration project, which is divided into two parts: the first part is based on economic analysis of cogeneration project under present pricing policy. The second part presents potential of cogeneration project under deregulated spot pricing. As of January 2003, the regulatory framework of the Thai electricity system industry will be restructured and deregulated to more competitive in power market. As a result, electricity prices are not regulated, but are determined by the power pool. In this study, the cogeneration plants are treated as generating unit that have to bid their price (i.e. short-run marginal cost, SRMC) to power pool. Therefore, the cogenerators needed to determine their potential to response to competitive bidding price under restructuring of electricity system industry. However, the economic analysis of co generation project under present pricing policy needs to be studied for a better understanding. The study has revealed that the internal rate of return (IRR) of cogeneration projects under npn-firm contract is lower than IRR of cogeneration projects under firm contract. Because under firm contract, the cogeneration can generate electricity in constant quantity and get more electricity buyback rate from energy payment and capacity payment. Furthermore, the result shows that the cogeneration potential is decreased under deregulated spot pricing. Based on the zonal prices, the small cogeneration plants in central area and northeastern area are not attractive for investor to implement the project. In the other hand, the IRR of cogeneration projects in southern area are the most attractive due to high zonal price. The sensitivity analysis of uncertainty parameters shows that the increment in capital cost, bagasse price, discount rate and decrement in electricity buyback rate increase the uncertainty about the net profit of cogeneration plant. Particularly the bagasse price that determined the SRMC of cogeneration plant. This study also shows that the potential of cogeneration projects is reduced after deregulating the electricity supply industry in Thailand. A thesis submitted in partial fulfillment of the requirements for the degree of Master of Engineering. School of Environment, Resources and Development Thesis (M.Eng.) - Asian Institute of Technology, 2002 Electric industries Thailand Cogeneration of electric power and heat Thailand Asian Institute of Technology. http://203.159.5.9/ait-thesis/detail.php?q=B07489 http://203.159.5.9/ait-thesis/detail.php?q=B07489 030808 20260817173103.0