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Asean Electricity Market Integration: How Can Belt And Road Initiative Bring New Life To It?

Author

Listed:
  • LIXIA YAO

    (Energy Studies Institute, National University of Singapore, Singapore, 119620)

  • PHILIP ANDREWS-SPEED

    (Energy Studies Institute, National University of Singapore, Singapore, 119620)

  • XUNPENG SHI

    (Australia-China Relations Institute, University of Technology Sydney, PO Box 123, Australia3Center of Hubei Cooperative Innovation for Emissions Trading System, Hubei University of Economics, Wuhan 430205, Hubei Province, P. R. China)

Abstract

This paper assesses how China’s Belt and Road Initiative (BRI) can bring investment and technology into ASEAN and its impact on ASEAN’s electricity market. With the theoretical framework of scenario analysis, this paper provides three scenarios for ASEAN electricity market integration: the Lao PDR–Thailand–Malaysia–Singapore (LTMS) arrangement, a power exchange between heterogeneous grids in the Greater Mekong Sub-region (GMS) region, and a fully competitive electricity market with a fully-developed ASEAN Power Grid (APG). Based on these scenarios, the paper examines the extent to which the BRI can assist electricity market integration in the ASEAN region. It is found that BRI can best fit with and facilitate the first scenario. Given the uncertain outlook for the electricity market integration in the GMS region, how China’s BRI can play a role in facilitating the GMS electricity market integration is not clear under the second scenario. Further, BRI may be less helpful in the third scenario in which the region’s master plan of APG would be realized. In any sense, how BRI can fit with and facilitate ASEAN’s electricity market integration would more depend on the host countries rather than the Chinese side.

Suggested Citation

  • Lixia Yao & Philip Andrews-Speed & Xunpeng Shi, 2021. "Asean Electricity Market Integration: How Can Belt And Road Initiative Bring New Life To It?," The Singapore Economic Review (SER), World Scientific Publishing Co. Pte. Ltd., vol. 66(01), pages 85-103, March.
    • Handle: RePEc:wsi:serxxx:v:66:y:2021:i:01:n:s0217590819500413
    DOI: 10.1142/S0217590819500413
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