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An obstacle for renewable power and ageing fossil fuel-fired power plants is presenting a new revenue channel for power companies, with SET-listed power producer Ratch Group driving growth by selling “inertia” to a customer in Australia.

Inertia, provided by synchronous condenser technology, refers to the grid’s ability to resist sudden changes in power frequency and maintain a stable electricity supply.

Through inertia sales, Ratch contributes inertia to the grid, enhancing grid stability and helping prevent blackouts, which is a growing concern as more solar and wind power are integrated to meet rising clean energy demand.

STUMBLING BLOCK

Like other countries, Australia is promoting the use of clean energy and finding ways to ease some of the downsides.

The sun and wind are intermittent sources of energy, unable to ensure a steady supply of electricity due to uncertain weather patterns.

“A more technical term is renewable energy lacks the moment of inertia,” said Nitus Voraphonpiput, chief executive of Ratch, a power generation arm of Electricity Generating Authority of Thailand.

By converting part of its 25-year-old Townsville Power Station in Queensland to a synchronous condenser, the company contributes inertia to the grid system, helping power transmission operator Power Link provide a continuous supply of electricity.

“It’s the first power plant in Australia repurposed to have a synchronous condenser,” said Mr Nitus.

The plant continues to sell electricity, while selling inertia simultaneously to earn extra money.

Ratch spent A$32 million installing a synchronous condenser, which started operations on Aug 10, and it projects earnings of $6.8 million a year.

Under a new agreement signed with power company QPM Energy Ltd, Ratch can operate the Townsville Power Station for another 10 years after its original 25-year power purchase agreement with QPM expired on Feb 6 this year.

“I believe Thailand will have similar synchronous condensers in the future,” he said, adding the US also converted old power plants to synchronous condensers.

Germany and Saudi Arabia are also utilising synchronous condensers, according to media reports.

Ratch has not planned to convert its ageing power plants in Thailand to synchronous condensers, as it is awaiting the right time when the downsides of renewable energy usage in the country become clearer, said Mr Nitus.

The Thai government is promoting renewable energy, which comprised 22% of all energy production in 2024. The country cannot avoid this stumbling block as it aims to be less dependent on fossil fuels in its campaign against climate change, he said.

“If the renewable power proportion exceeds 30% or 40%, then we will start devising a synchronous condenser plan,” said Mr Nitus.

CASSETTE TAPE

Though grid operators can use a battery energy storage system (BESS) to deal with this obstacle, Ratch sees a business opportunity with synchronous condensers, which he compared to a cassette tape.

The company invests in many energy assets in Australia, and is developing new BESS projects. Ratch also is fond of synchronous condensers, which form part of the Australian government’s grid security policy.

A synchronous condenser is not a new invention — the technology is used in conventional power plants. Coal and gas-fired power plants as well as biomass-based power facilities are equipped with features to add inertia and control electricity voltage at appropriate levels.

“This is like a cassette tape that should have been discarded, but it was brought back into use again,” said Mr Nitus.

A synchronous condenser’s moment of inertia — essentially its resistance to changes in motion — helps to maintain the grid’s electrical frequency when there is a sudden drop in power supply.

“It’s like tossing a small stone onto the ground,” said Sahachthorn Putthong, chief executive of Ratch-Australia Corporation, who threw a pebble in front of the company’s synchronous condenser.

“The stone tries to maintain speed while moving, but it faces friction on the ground.”

BESS can also prevent outages, offering functions to add inertia and maintain voltage levels, but it requires higher investment.

“A synchronous condenser can make use of our old assets,” said Mr Nitus, adding that enhancing the value of ageing power plants is part of Ratch’s business strategy.

The 234-megawatt Townsville Power Station uses both gas and steam turbines to generate electricity, supplying power to 33,106 households a year.

“The facility has now become a hybrid business, selling both electricity and inertia,” he said.

SPRINGBOARD

Ratch is seeking new business ventures, including sustainable aviation fuel (SAF), other than its core businesses directed by Thailand’s power development plan (PDP).

Authorities are drafting a new PDP with a greater focus on renewable energy, which could shape Ratch’s business path over the long term, said Mr Nitus.

The company aims to increase its renewable energy proportion to 30% of total power generation capacity by 2030, up from 16% at present.

“However, the Thai PDP has been delayed for a while. If we wait for its completion, we will lose opportunities,” he said.

Ratch needs new partners to give it a springboard to diversify from its power businesses and develop new revenue channels, said Mr Nitus.

SAF is a biofuel for aircraft, and Ratch wants to invest in this business abroad.

“Overseas investment is preferable because Thailand already has big players in the SAF business,” he said.

Some 32% of Ratch’s total revenue of 2.9 billion baht in the first half of this year came from foreign countries, while 68% was from domestic sources.

XSpring Asset Management (AM) says its XSpring Nuclear and Uranium Technologies Fund (X-NUCTECH) posted a return of 31.9% in baht and 39.3% in US dollars within only three months of its launch.

As of Oct 6, the fund’s assets under management (AUM) surged by 704% to 371 million baht from an initial size of 46 million baht when launched on July 14.

Nuclear and uranium stocks have surged as power demand grows, propelled by government policies, global electrification and artificial intelligence (AI) spending. The International Atomic Energy Agency estimates global nuclear capacity to grow by more than 160% by 2050 as it becomes indispensable to achieving clean energy ambitions.

X-NUCTECH invests primarily in the VanEck Uranium and Nuclear Technologies UCITS ETF A USD Acc (NUCL), which has been one of the world’s top-performing funds in 2025 with a year-to-date return of 94.2%. NUCL has posted consistent growth over the years, gaining 3.71% in 2022, 39.2% in 2023, and nearly 30% last year.

Such continuous growth reflects the steady rise of global investments in nuclear energy, said Yosakorn Follett, chief executive of XSpring AM.

“This year is a breakthrough year for alternative investments as global interest rates trend downward,” he said.

Many investors have shifted away from low-yield deposits towards higher-return assets, particularly mutual funds, a trend that is expected to continue into 2026, said Mr Yosakorn. X-NUCTECH stands out as the company’s top performer, reflecting investors’ growing confidence in the long-term potential of nuclear energy, he said.

“The fund’s rapid growth underscores investors’ recognition of nuclear power as a critical solution in the global energy transition,” said Mr Yosakorn.

“AI and data centres are driving exponential energy demand, doubling every 3.5 months according to international research. Nuclear power is regaining prominence as one of the few scalable and stable energy sources capable of supporting the modern digital economy.”

While X-NUCTECH’s local returns in baht were slightly tarnished by the currency’s recent strength, XSpring AM expects this to improve as exchange rate conditions normalise, he said, adding the fund’s long-term prospects remain strong given the global shift towards clean, efficient and carbon-neutral power sources.

The asset manager is positioning itself as an innovator in thematic and alternative investments, focusing on high-potential global trends such as energy transition, digital transformation and AI, said Mr Yosakorn.

KEX Express (Thailand) Plc said on Tuesday that its voluntary delisting from the Stock Exchange of Thailand will have no impact on its operations, customers or business partners.

Shares of KEX were to be delisted on Wednesday, with Tuesday as the last trading day, following the successful completion of a tender offer earlier by its major shareholder, SF International Holding (Thailand), or SFTH.

The express delivery provider continues to operate as usual and remains focused on its strategic transformation to redefine delivery standards in Thailand, it said in a statement.

The Thai market continues to play a vital role in driving KEX’s growth as part of SF Group’s regional network in Southeast Asia it said.

Chief executive Jiawei Zhang said the delisting was a strategic move to enhance flexibility and operational efficiency, enabling the company to respond more quickly to changing market dynamics in an increasingly competitive landscape. With 98.9% of company shares now held by SFTH, KEX will benefit from direct support and integration with SF Group’s extensive logistics network, technology, financing and expertise, he said.

The company is expanding its services to deliver both convenience for the mass market, as well as premium, customised logistics solutions that create long-term value.

Recently, KEX launched KEX Sameday, a same-day delivery service designed for customers requiring time-sensitive or high-value parcel delivery.

‘We will continue to grow and invest in Thailand and across Southeast Asia for the long term. Our mission remains clear: to deliver fast, reliable, and high-quality logistics services that our customers can always trust,’ Mr Zhang said.

Microsoft has tightened access to Internet Explorer (IE) mode in its Microsoft Edge browser after discovering that hackers were exploiting a critical zero-day vulnerability to take control of users’ computers.

Gareth Evans, head of security for Microsoft Edge, said the company’s threat intelligence team received reports that cybercriminals were using IE mode to compromise devices through a previously unknown flaw.

Although Internet Explorer was officially retired on June 15 2022, Microsoft retained IE mode within Edge to allow legacy websites and enterprise systems relying on outdated technologies such as ActiveX or Flash to continue functioning.

Investigations revealed that the attackers were not targeting Edge directly but instead using a social engineering strategy combined with a zero-day vulnerability in Chakra, the old JavaScript engine once used by Internet Explorer. This flaw allowed malicious code to be executed remotely without the user’s knowledge.

The attack typically began with hackers creating fake but convincing websites designed to trick users into visiting them. Once on the page, users would be prompted to ‘reload this page in Internet Explorer mode’. When the option was activated, the Chakra zero-day vulnerability was triggered, enabling the attackers to escalate privileges and gain full control over the victim’s computer.

What makes the situation more concerning is that Microsoft has yet to release a patch for the Chakra engine vulnerability. As a precaution, the company has now removed all shortcuts for enabling IE mode – including toolbar buttons, right-click menus and options in the main browser menu.

For those who still need to use IE mode, users must now manually enable it via Settings ? Default Browser ? Allow sites to be reloaded in Internet Explorer (IE) mode, switching from Default to Allow. They must then add the URLs of specific sites that require IE mode.

Microsoft said the change is aimed at increasing security and ensuring that IE mode is used only for trusted sites specified by the user, making it more difficult for hackers to exploit fake or malicious websites.

Many streets in Bangkok were flooded after heavy rain on Tuesday, with the rain expected to persist into the evening in northern Bangkok.

The Bangkok Metropolitan Administration reported at 1.45pm there was flooding on sections of Onnut 59 Road in Prawet district, Sukhonthasawat Road in Lat Phrao district, Sukhumvit 39 Road in Watthana district, Chaeng Watthana 10 Road in Laksi district and Charoen Krung and Rama III roads in Bang Kho Laem district.

The inundation occurred from 12.30pm-1.45pm and flood levels ranged from five to 25 centimetres.

Floodwater receded from Onnut 59, Sukhumvit 39 and Chaeng Watthana 10 roads between 1.15pm and 3pm.

The Meteorological Department forecast rain for 70% of the capital on Tuesday.

About 3pm the department said there was light and moderate rain in Bangkok’s Sai Mai, Don Muang, Laksi, Bang Khen, Lat Phrao, Chatuchak and Bang Sue districts.

The rain was moving northwestwards and would stay in Laksi, Don Muang, Sai Mai and Bang Khen districts for 30-60 minutes from 3.30pm-4pm, the department said.

The Tourism Council of Thailand (TCT) views the Finance Ministry’s stimulus package as crucial to reviving tourism in second-tier cities, which has worsened from last year.

Ratchaporn Poolsawadee, vice-president of the TCT, said the outlook in second-tier cities is worse than for major cities, as arrivals declined because of perceptions of an unsafe travel image, border skirmishes, a sluggish economy and the strong baht.

For provinces bordering Cambodia, tourism operators are struggling to restore the flow of visitors as the border dispute remains tense, said Mr Ratchaporn.

He said the corporate tax exemption for meetings and seminars in second-tier destinations as well as the domestic tourism subsidy campaign should help draw local tourists, particularly those with high spending power, to the provinces.

However, the council urged authorities to assure participants that systems have been prepared for these campaigns so they are seamless and user-friendly, attracting as many tourists as possible.

The systems should not cause inconvenience, as happened with the previous domestic co-payment scheme handled by the Tourism Authority of Thailand, said Mr Ratchaporn.

He said the tax incentive programme for hotels to renovate as green properties aligns with the sustainable tourism trend. Very few hotels and accommodations can earn green certifications, making the country lose competitiveness, said Mr Ratchaporn.

Many operators, particularly small and medium-sized tourism businesses, would like to transform their operations to become more sustainable, though this requires considerable expenses, he said.

Meanwhile, more corporate and leisure travellers are demanding environmentally friendly tour packages and accommodations.

The cabinet on Tuesday reshuffled 45 high-level officials at the Interior Ministry – chiefs of provincial and local administration and land departments, as well as provincial governors.

Many of them were returned to positions they held before being moved out by the past government.

Government spokesman Siripong Angkasakulkiat said the promotions and transfers filled positions left open by retirement and corrected injustices to some officials who were unfairly treated in three previous reshuffles in only one month.

Prime Minister Anutin Charnvirakul, who is also the interior minister, denied the latest reshuffle reflected the fight between his Bhumjaithai Party and the Pheu Thai Party, which led the past government and until recently controlled the Interior Ministry.

He said the reshuffle was proposed by the interior permanent secretary. He only put it on the cabinet’s agenda. The permanent secretary did not seek his advice on the matter, the prime minister said.

Late last month, Mr Anutin told the parliament that Pheu Thai needed the Interior Ministry because a general election was near.

Tuesday’s changes focused on the provincial governors of Nong Bua Lam Phu, Chai Nat, Ang Thong, Chiang Mai, Ayutthaya, Si Sa Ket, Chiang Rai, Chachoengsao, Surat Thani, Uttaradit, Nonthaburi, Nakhon Phanom, Phetchaburi, Phuket, Khon Kaen, Sing Buri, Uthai Thani, Ubon Ratchathani, Nakhon Sawan, Samut Prakan and Rayong.

The cabinet resolution also affected the position of the chief of the Land Department. Pornpoth Penpas returns as director-general of the Land Department after being made a deputy interior permanent secretary last August. The Land Department is at the heart of the controversy over ownership of a large area of land near Khao Kradong in Buri Ram province, which is the political stronghold of Mr Anutin’s Bhumjaithai Party.

To make way for Mr Pornpoth’s return as land department chief, Kachornkiat Rakpanichmanee becomes the governor of Khon Kaen province.

Tuesday’s cabinet resolution also made Narucha Khosasivilai, currently interior inspector-general, the director-general of the Department of Provincial Administration. In his earlier posting he was the governor of Buri Ram province.

Surat Thani governor Theerayut Supawibulpol becomes the director-general of the Department of Local Administration.

The government’s 44-billion-baht “Khon La Khrueng Plus” co-payment scheme comes just in time to lift the restaurant sector amid the country’s economic slowdown, says the Restaurant Association.

Slated to run from Oct 29 to Dec 31, the scheme offers a 2,400-baht subsidy for individuals registered in the tax system, while those outside the system receive 2,000 baht each, with a daily spending cap of 200 baht.

“The scheme arrives at the right time as the economy is sluggish, with consumers more cautious with their spending,” said Chanon Koetcharoen, president of the Restaurant Association.

While mom-and-pop stores and other small businesses such as massage parlours and nail salons are also eligible to participate, Mr Chanon said based on past stimulus packages, the measure could increase restaurant sales by around 30% compared with non-stimulus periods.

He said the scheme could influence consumer habits, encouraging people to order more per visit or dine out more often.

Some groups dining together might split their bills to maximise their subsidies, reducing the cost per person, said Mr Chanon.

Local media reported some restaurant owners are hesitant to join the scheme due to fears of potential audits for retroactive taxes.

He said there are some concerns over this issue, but added he expects most small restaurants to participate as the scheme is likely to increase their income.

For the fourth-quarter outlook, Mr Chanon said there was a mix of positive and negative factors.

On the positive side, the start of fiscal 2026 is expected to facilitate budget disbursements that could further stimulate economic growth. Moreover, the tourism sector has entered its high season, which typically supports the restaurant industry.

From Jan 1 to Oct 5 Thailand recorded 24.5 million foreign visitors, a 7.5% year-on-year decline. The top five source markets were Malaysia, China, India, Russia and South Korea, according to the Economics Tourism and Sports Division of the Tourism and Sports Ministry.

Mr Chanon urged the government to act quickly to address Thailand’s negative tourism image.

He said the restaurant industry continues to face high raw material costs, especially for pork.

Furthermore, the sector is struggling with a labour shortage. Many restaurants already pay above the minimum wage. With the Vegetarian Festival in late October and year-end celebrations, the demand for workers will rise, leading to further increases in wages that pressure labour costs, said Mr Chanon.

Trat’s tourism industry is facing a 700-million-baht loss as a United Kingdom travel warning has prompted widespread cancellations from European visitors, according to the Tourism Authority of Thailand (TAT).

TAT’s Trat office said a surge of cancellations followed the UK Foreign Office’s advisory against non-essential travel to the province, including Koh Chang.

The advisory, stricter than those from other European nations, has led insurers to refuse coverage, disrupting travel plans.

One British traveller contacted TAT London and the Thai embassy, explaining his insurer declined to cover his trip to Koh Chang despite existing bookings. He requested official confirmation that the island remains safe, hoping it would reverse the insurer’s decision.

The TAT said that Trat is not a conflict zone and remains peaceful. Koh Chang, Koh Kut, and Koh Mak continue to welcome tourists daily.

However, the martial law designation across the entire province – active since 2012 – has raised concerns among European travellers and insurers.

The TAT said local tourism operators are urging security authorities to reconsider the status, especially in non-border areas, to restore confidence during peak season.

Interested people are invited to trace the unseen lives of Thai workers in Scandinavia and migrant communities in Bangkok through vibrant paintings during “Flowers For Everyone”, which is running at Crystal Court, M floor, North Zone of Siam Paragon, Rama I Road, until Nov 7.

Presented by SAC Gallery, this is a pop-up solo exhibition by Juli Baker and Summer, one of Thailand’s most beloved contemporary artists, whose work is celebrated for its radiant colour, bold brushwork and narrative sensibility that fills each canvas with life, emotion and imagination.

On display are two interconnected chapters of her practice. Created during her time in Scandinavia, “The Journal Of The Nordic Lands” series features paintings that depict skies, gardens and forests that glow with luminous colour and appear serene and idyllic.

Hidden from view in these landscapes, however, are Thai migrant workers who travel north each year to harvest berries. Their lives become part of the scenes themselves, reminding us that beauty can also hold stories of endurance, distance and struggle far from home.

Back in Bangkok, the artist began a new chapter from her small apartment near a public park. She observed the delicate rhythms of the city — couples on picnic mats, housekeepers resting between shifts, expatriates practising yoga, migrant workers caring for children and students gathering after school. These fleeting moments form a fragile weave of connection, moments of togetherness that exist alongside absence.

From these encounters came a new series of works including You Can Look At These Flowers, They’re For Everyone and The Flowers I Saw In My Dream Last Night.

Part observation and part imagination, the flowers are symbols of urban life — ordinary yet radiant, rooted yet displaced. They reflect the artist’s wish to share beauty openly while quietly honouring the unseen workers whose labour sustains the rhythm of the city.