Assessing the Effects of ASEAN Liberalised Electricity Markets: The Case of Singapore and the Philippines

Hassan Ali, Han Phoumin, Beni Suryadi, Aitazaz A. Farooque and Raziq Yaqoob

Chapter 2 in Electricity Market Reforms in the ASEAN, China, India, and Japan, 2023, pp 27-61 from World Scientific Publishing Co. Pte. Ltd.

Abstract: The Association of Southeast Asian Nations (ASEAN) electricity market is being liberalised in some regional countries. This step of opening electricity markets is aimed at establishing a competitive and efficient environment that not only reduces electricity prices and CO2 emissions from electricity generation but also promotes the wider use of renewable energy resources. This paper examines the effects of liberalisation on these expected outcomes in the electricity markets of Singapore and the Philippines during 2015–2020. The regression analysis results show that, in the specified period, liberalisation of the electricity market in Singapore has delivered price reductions and improvement in renewable energy share. However, there is no significant effect of liberalisation on the reduction of CO2 emissions from the generation of electricity. The results also imply that, with the electricity market liberalisation in the Philippines, prices for household consumers and CO2 emissions have increased. Also, the liberalisation has no significant impact on renewable energy share and industry electricity prices in the Philippines. To avoid the mixed results and strike a balance between expected outcomes, policy recommendations are given for ASEAN economies following the pathway of liberalised electricity markets.

Keywords: Electricity Market Reform; Market Liberalisation; Tariff Reform; Electricity Trade; Renewable Energy; Resource Allocation; Sustainability; Electricity Market; ASEAN; Southeast Asia; Japan; India; China; Renewable Energy; Energy Transition; Sustainable Electricity Market; Liberalised Electricity Markets; Efficiency; Emission Reduction; Carbon Reduction; Clean Energy; Green Energy; Electricity Tariffs (search for similar items in EconPapers)
JEL-codes: O13 Q01 Q4 Q41 Q42 Q43 Q48 (search for similar items in EconPapers)
Date: 2023
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