Piyasvasti Amranand was Thailand's Energy Minister between 9 October 2006 and 6 February 2008. He is former Secretary-General of the Thai National Energy Policy Office, Chairman of Kasikorn Asset Management, and Chairman of the Panel of Advisors to the CEO of Kasikornbank. He was President of Thai Airways International between October 2009 and June 2012. He is Chairman of PTT Public Company Limited, board member of Kasikorn Bank, and board member of Pruksa Holding PCL. Piyasvasti plays active roles in three non-profit organizations as a founding and core member of the Energy Reform for Sustainability Group ; Chairman of the Energy for Environment Foundation, a non-profit organization undertaking renewable energy and energy efficiency projects; and as president of the Ski and Snowboard Association of Thailand.
Career
During the 1990s, Piyasvasti played a key role in deregulating and privatizing a number of energy-related state enterprises like PTT and power generation business. During his term as energy minister he implemented wide-ranging reforms in the energy sector, for instance, the end of oil price subsidies and repayment of the oil fund's massive debt accrued by the previous government's subsidy program; implementation of aggressive policies to promote renewable energy, cogeneration and distributed generation; adoption of Euro 4 fuel qualities and introduction of vapour recovery systems for petrol stations; adoption of a number of standards and incentive programs for energy efficiency; awards of a large number of petroleum concessions, issuing of IPP solicitation; conclusion of a number of power purchase agreements for projects in Laos; establishment of a nuclear power program with a target for 4,000 MW of nuclear capacity in 2020-2021; and amendment of a number of energy-related laws. The most important law passed during his term as energy minister was the Energy Industry Act to establish an independent regulatory body for electricity and natural gas. The law was responsible for saving PTT Public Co, Ltd. from being nationalized in a court case brought against the government and PTT by the Consumers Association. Piyasvasti joined Thai Airways in October 2009 when the carrier was in financial trouble. He continued to implement the turnaround plan and introduced a long term strategic plan where the financial position of the company was substantially strengthened, embarked on the largest aircraft acquisition and retrofit program ever implemented at Thai Airways, and formed Thai Smile as an first step in competing with low cost airlines. In June 2012, the board of directors suddenly voted Piyasvasti out with no explanation in what was seen as a politically motivated coup.
