Cross-Border Electricity Trading Market 2017 - Current and Future Plans

WiseGuyReports published new report, titled “Cross-Border Electricity Trading”

Summary

The South Asian economy continues its optimistic growth trend projected at 6.8% in 2017 and an average growth of 7.2% in 2018-2019 which is likely to increase the power demand of the region in the coming years (World Bank, 2017). But lack of adequate and reliable energy, seasonal hydro availability, stagnant natural gas production, and expensive oil imports act as roadblocks in the region’s economic growth. Furthermore, the region is home to 300 million poor which accounts for one-third of the global poverty headcount and access to reliable and affordable power is necessary for social and economic upliftment of this region. However, factors like frequent power shortages, demand supply mismatch, and poor distribution infrastructure among others result in poor electricity access. Furthermore, the power demand in the region is expected to rise from 1,111 terawatt hours (TWh) in 2017 to 3,012 TWh in 2030 at a compound annual growth rate (CAGR) of 8%; in India alone, demand is expected to reach 2,765 TWh by 2030. Integration of the South Asian energy market seems an effective way to meet this demand.

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Scope

- To gain insights on the present power scenario in the region and to understand the scope of an inter-regional power trading mechanism in future.

Key points

- The report provides a detailed insight on the present power scenario and various challenges faced by the power sector in Bangladesh, Bhutan, India and Nepal (BBIN countries) and Southeast Asia.
- The report discusses the prospect of cross-border electricity trading (both bilateral and through exchange) as a result of SAARC Framework Agreement for Energy Cooperation (2014) within the BBIN countries creating a regional power market.
- It further introspects on the chance of integration of BBIN power market with Myanmar (in light of its growing economy leading to increased power demand )in the short term and with ASEAN Power Grid (APG) in the long term, resulting in long term energy security in the region.

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This release was published on openPR.