Brunei Darussalam's REC Market Assessment and Opportunities for Regional Integration

Highlights

• Nascent Market with Untapped Potential: Brunei’s REC market is in its early stages, but it has potential due to untapped renewable energy resources.
• Key Stakeholders: Various stakeholders, including government agencies, utilities, private companies, and international organisations, play a crucial role in developing and shaping Brunei’s REC market.
• Challenges to Overcome: The market faces challenges like the lack of a comprehensive regulatory framework, subsidised electricity tariffs, and limited awareness and understanding of RECs among potential buyers.
• Applying Best Practices: Brunei can adopt global and regional best practices, such as those from Malaysia and Singapore, to enhance its REC market design and implementation.
• Opportunities for Regional Integration: Brunei’s REC market presents opportunities for regional collaboration and cross-border trading, especially, but not limited to neighbouring regions like Sarawak and Sabah.