Power traders mull market merger

National 1 minute, 21 seconds

BANDAR SERI BEGAWAN

POWER market integration, such as increased development and deployment of renewable energy, presents a desirable environment for the development of energy infrastructure in the ASEAN region.

This was the consensus of public and private stakeholders gathered at Public Private Partnership (PPP) Conference on Power Connections for the Future held yesterday in Singapore, according to a press statement by the Energy Department at the Prime Minister’s Office (EDPMO).

Speaking at the second session of the conference, Minister of Energy Yang Berhormat Pehin Datu Singamanteri Col (R) Dato Seri Setia (Dr) Hj Mohammad Yasmin Hj Umar, stressed that ASEAN governments play a major role in creating conducive and enabling environments for private sector investment and financing of energy infrastructure development.

In a discussion with his counterparts and representatives from the private sector on challenges of the ASEAN Power Grid, the minister said he viewed credible and transparent regulatory policies for private participation as necessary to developing an integrated power market, an endeavour requiring substantial amounts of investment.

In its first session, the conference shared power market integration experiences in the European market, looking at its inter-linkages with renewable energy development.

The conference aims to bring together public and private sectors under the United States – Asia-Pacific Comprehensive Energy Partnership (USACEP) initiative to explore Asian power market integration issues and to benefit from regional electricity market interconnections.

Participants comprised representatives from governments, the private sector, financial institutions, academics, and international organisations.

The event was jointly organised by the US Department of State, EDPMO, and the Energy Market Authority of Singapore at the sidelines of the Singapore International Energy Week.

The Brunei Times