Bachelor with 1st class honours, Oxford (England) University, 1975; Master of Science with distinction, London School Economics, 1977; Doctor of Philosophy, London School Economics, 1979.
He is former Secretary-General of the Thai National Energy Policy Office, Chairman of Kasikorn Asset Management, and Chairman of Panel of Advisors for the CEO of Kasikornbank. He was President of Thai Airways International between October 2009 and June 2012. He is currently chairman of the Energy for Environment Foundation, a non-profit organization undertaking renewable energy and energy efficiency projects.
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 due to the previous government's subsidy program. Implementation of very aggressive policy to promote renewable energy (including biofuels), 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 Lao PDR. Establishment of nuclear power program with a target for 4,000 MW of nuclear capacity in 2020-21. 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 also the most important factor which saved PTT Public Co, Ltd from being nationalized in a court case brought against the government and PTT by the Consumers Association. He 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 initial step to compete with low cost airlines. Piyasvasti was born in 1953, and graduated from Brasenose College, Oxford in 1975 with BA (first class honours) in mathematics. He later obtained MSc in econometrics and mathematical economics and a PhD in economics from the London School of Economics.
Married Anik Wichiencharoen, December 24, 1979. Children: Piya, Anutr.