Rising electricity needs put Southeast Asia’s energy security at risk: report
The International Energy Agency report says Southeast Asian nations should share electricity and diversify where they get their power
Risks to Southeast Asia’s energy supplies are multiplying faster than nations are coming up with solutions to meet rapidly rising demand for electricity, according to an International Energy Agency report released on Tuesday.
Southeast Asia has a seemingly insatiable appetite for energy, but the region is now in a pinch as energy costs rise, partly due to the Iran war. Fast-growing Southeast Asian economies also need more electricity to power data centres and keep homes and businesses cool.
To boost regional energy security, the report says Southeast Asian nations should share electricity among each other and diversify where they get their power. But countries face multiple hurdles, from territorial conflicts between neighbours to differing types of national energy markets, according to analysts, who warn these barriers may keep the region vulnerable to energy shocks.
“Southeast Asia is one of the world’s most dynamic regions, but its rising needs for energy to power its economic growth face challenges in an increasingly uncertain global energy landscape,” Fatih Birol, the IEA executive director, said in a statement.
