In our Q1 energy insights, we observed the overall electricity demand slumped and several power projects halted due to disrupted supply chain as nationwide lockdown imposed. Moreover, amidst the economic recession, the ASEAN government needs to provide some stimulus to ease the suffered consumers in paying their electricity bills.
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. Skyrocketing electricity bills, particularly in the household sector, insisted the government offer tariff waivers or exemption but with a limited period. The disbursement of stimulus to both electricity consumers and producers are vitally needed, to provide a proper recovery plan in the power sector. Besides the residential sector, incentives are also given to another thumped sector, namely the industrial and commercial sector.
The haltedpower projects: resume as lockdown eased, but remain uneasy to whom still in struggles.
From the previous insights, the overall electricity demand still reported dropfollowing the slowdown activities in the industry sector and commercial sector
Indeed, the provided incentives amongst the ASEAN Member States might be varied, particularly in term of the implementation period. It highly depends on the timespan of the restriction interval. Several restrictions also reportedly lifted during Q2 2020, and ASEAN is seemingly restarting its suspended power projects even though several countries are still struggling to control the pandemic.
ASEAN Centre for Energy (ACE) is an intergovernmental organisation within ASEAN structure that represents the 10 ASEAN Member States’ (AMS) interests in the energy sector.