BCPG Public Company is looking at ways in which innovation in technology and energy management are encouraging consumers to generate reusable energy and sell it on the retail market, Bundit Sapianchai told Oxford Business Group’s online broadcasting channel, Global Platform.
Diversifying into more types of renewable energy and seeking innovative products and services is central to the company’s strategy of fulfilling consumer needs. In the wide-range interview, the company President and CEO said that advancements in technology will allow consumers to buy and sell green energy directly to the grid, cutting out the need for government or utility companies. “We are providing them with the system, but the energy or the power belongs to the consumer,” he told OBG. “That’s what we mean in terms of the democratization of energy. People are not only consuming green energy; the new way lets them be producer of green energy. The industry is shifting from centralized distribution – from a conventional way to a smarter way.” According to Sapianchai, the transformation of the business model from wholesale to retail will gain significant ground in the medium term. “Building the retail market takes time, but in about two to three years, we expect to have a new portfolio mix of both wholesale and retail. In the long-term, after five years, we will see more retail activities in our portfolio.”