Q3 COVID-19 vs ASEAN Energy Sector: Electricity
The power sector remains an industry that is recovering at the latest due to the pandemic. Until the first half of 2020, domestic electricity sales have not yet recovered, which is burdening electric companies entering survival mode.
Climate Actions Started to Blossom in Various Fronts Amid the Prolonged Covid-19 Winter
The Covid-19 pandemic is still ravaging the region, well into the third quarter of 2020. Struggling to patch the economic bust, ASEAN countries are churning out policies of economic recovery. Amid the struggle, we have seen potential climate actions blossoming in the region. As one of the most climate- vulnerable regions, the region started to get ready with more robust policies and strengthened commitments against climate change.
COVID-19 Struggle Remains, But Countries Gear Up for Climate Action
As the end of the pandemic seems to be further than expected, the development of climate-friendly technologies would require proper incentives, in both supply and demand sides. For example, tariff reduction or even exemption could ease the consumers to survive during the pandemic, providing chances to manage economic activities in a sustainable way.
Q2 COVID-19 vs ASEAN Energy Sector: Oil and Gas
The winding road as an impact of pandemic gives pressure in the oil and gas market. It became a serious challenge to survive amid unfavourable circumstances, such as putting off some projects, cutting output, and tightening financial policy.
Q2 COVID-19 vs ASEAN Energy Sector: Renewables
Renewable Energy projects continuously experience inevitable struggles during the COVID-19 pandemic. However, currently, ASEAN governments see that RE could be an integral part of re-building energy resiliency of the region as the new normal begin.
Q2 COVID-19 vs ASEAN Energy Sector: Electricity
In the mid-end pandemic, as countries including the ones in struggles began to reopen the economy, the overall electricity demand is yet to recover. This reopening economy requires power utility companies to review the electricity masterplan and to prioritise towards more sustainableenergy projects, while also secure their budget.
COVID-19 vs ASEAN Energy Sector: Oil and Gas
Plunge in demand, supply glut, and plummeting price—even touching minus point—have made oil and gas market gloomy especially in ASEAN countries. Even so, some positive impacts may be felt by oil importing countries, while fuel price reduction to some degree can ease the social effect of COVID-19. Although this might be a signal of economic slowdown, optimism remains and keeps oil and gas sector afloat in this troubled period.
COVID-19 vs ASEAN Energy Sector: Renewables
Renewable energy sector is also inevitably hit by this pandemic, remarkably under the disrupted supply chain and logistic which cause inevitable postponed projects. This pandemic creates both, opportunities and threat to RE as target and priorities of government are still on the fence. However, there is an optimism that this pandemic could shine a silver lining on how to progress with the energy transition and shape the RE industries once the economy bounces back.
