Power Utility

Power demand is projected to reach 13,600TWh by 2050.

This will mostly be driven by Southeast Asian markets. 

This is seen to open more opportunities for power project development.

The non-hydropower renewables are expected to grow by 6.8GW. 

The market is poised to be a key electricity exporter in Southeast Asia.

A total of 56GW is either in pre-construction or construction stages.

Developments will mostly be located in Mainland China.

It will help resolve the intermittency of renewables.

The MoU zeroes in on the retirement of Cirebon-1 in West Java.

This $10b more than in the first half of 2022.

Seven countries were able to save about 9% of their fossil fuel costs in the first half.

This was linked to the higher fuel prices. 

This represents an annual growth rate of 14.3%.

It is expected to rise by 15.3% annually. 

Energy cost-saving is estimated to be worth US$400b-600b to 2050. 

 The JAIF and NEI asked the two governments to improve the energy market and regulation.