Assessing ASEAN’s Liberalized Electricity Markets: The Case of Singapore and the Philippines

Hassan Ali (), Han Phoumin, Beni Suryadi, Aitazaz A. Farooque and Raziq Yaqub
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Hassan Ali: Department of Sustainable Systems Engineering, College of Engineering Technology, University of Doha for Science and Technology, Doha 24449, Qatar
Han Phoumin: Economic Research Institute for ASEAN and East Asia (ERIA), Jakarta 10270, Indonesia
Beni Suryadi: ASEAN Centre for Energy (ACE), Jakarta 12950, Indonesia
Aitazaz A. Farooque: Faculty of Sustainable Design Engineering, University of Prince Edward Island, Charlottetown, PE C1A 4P3, Canada
Raziq Yaqub: Department of Electrical Engineering and Computer Science, Alabama A&M University, Huntsville, AL 35762, USA

Sustainability, 2022, vol. 14, issue 18, 1-24

Abstract: The efforts towards the liberalization of electricity markets have sped up recently in some countries within the Association of Southeast Asian Nations (ASEAN) region. This step of opening up the electricity markets is aimed at establishing competitive and efficient electricity markets that not only reduce electricity prices, but also support a sustainable future by reducing carbon dioxide ( CO 2 ) emissions from electricity generation and promoting the wider adoption of renewable energy (RE)-based electricity generation. This paper assesses the effects of the electricity market liberalization process in Singapore and the Philippines on these expected outcomes during the period 2015–2020. The regression analysis results suggest that in the specified period, the liberalization of the electricity market in Singapore has delivered both household and industry electricity price reductions and improvement in the RE share. However, there is no significant effect of the electricity market liberalization process on the electricity generated CO 2 emissions. For the same period, the results imply that with the electricity market liberalization process in the Philippines, the electricity prices for household consumers and electricity-generated CO 2 emissions have increased. Additionally, the liberalization process has no significant impact on both the RE share and industry electricity prices in the Philippines. To overcome the obstacles and strike a balance between the expected outcomes, policy recommendations are given for ASEAN economies following the pathway of liberalized electricity markets.

Keywords: electricity market liberalization; deregulation; carbon pricing; carbon dioxide emissions; regression analysis; emissions trading; electricity prices; Singapore; the Philippines; ASEAN (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2022
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