Energy demand in Southeast Asia (SEA) has increased by approximately 3 per cent a year over the past two decades, and is expected to increase by a further 60 per cent by 2040 as the region's economies continue to grow at a rapid pace. Today, SEA is a net importer of energy products, with more than 40 per cent imports to meet its total energy requirements. Existing policies also set it on a trajectory towards increased fossil fuel imports and emissions.
Nine out of the 10 Association of Southeast Asian Nations (ASEAN) member states have pledged to achieve net zero targets by 2050. To meet rising energy demand and its net zero commitments, the region needs to diversify its energy sources and supply.
An integrated ASEAN power grid could also bring about significant benefits by pooling renewable sources from countries with endowment advantages and supplying to countries with significantly less resources. However, ASEAN currently does not have an integrated electricity market, though there is significant potential for development of cross-border electricity trade, and eventually development of a regional electricity market.
In conjunction with PwC’s latest report "Regional electricity trade in ASEAN", this webinar will feature a discussion on:
This Ecosperity Conversations session is held in partnership with PwC. For enquiries, please contact us at ecosperity.convo@temasek.com.sg.
Image credit: Andrey Metelev on Unsplash