Electricity market liberalization is needed for states to accelerate energy transition. (Photo: iStock)
Most ASEAN member states have declared national carbon neutrality targets and renewable energy goals (Graph 1). However, translating these commitments into actionable strategies varies widely across the region and demand electricity market liberalization. The Philippines has set some the most ambitious renewable energy targets in the coming decades, but together with Indonesia, is the most coal-reliant country in Southeast Asia, with coal generating 62% of its electricity.
As businesses seek to expand sustainably in emerging economies, understanding the power market structure and regulatory environment become crucial. Southeast Asia, with its dynamic economic landscape, presents unique opportunities and challenges. This article provides a comprehensive view of market readiness to meet renewable energy demand vis-à-vis national targets by analyzing the electricity market structures across ASEAN countries.