The term ‘‘vulnerability’’ is described as ‘‘the risks of being negatively affected by shocks’’ [40]. Previous research
[11] has identified that the current high gas dependence in power generation makes Thailand vulnerable as the price
of domestic gas is linked to fuel oil price in the international market. Thus, oil price spikes would raise gas price, which in turn would affect the electricity tariff. Meanwhile, a high dependence on natural gas makes the electricity generating system more vulnerable from gas supply disruption as the country might not have sufficient capacities to meet electricity demand in case of a gas supply shortage. These incidents would definitely increase cost of energy supply affecting the economics of the country. In addition, a significant increase in the share of gas import to total gas supply raises an issue of energy import
dependency [41]. This would be another important concern
for energy security of the country.