ASEAN Centre for Energy (ACE) Launches 8th ASEAN Energy Outlook (AEO8)
September 30, 2024The ASEAN Centre for Energy (ACE) has released the 8th edition of the ASEAN Energy Outlook (AEO8) at the 42nd ASEAN Ministers on Energy Meeting (AMEM) and 24th ASEAN Energy Business Forum (AEBF-24) in Vientiane, Lao PDR. This report helps ASEAN countries plan their energy goals and strategies up to 2050.
The report supports the ASEAN Plan of Action for Energy Cooperation (APAEC) and provides insights into how ASEAN can achieve its energy targets both nationally and regionally.
At the meeting, Datuk Seri Fadillah Yusof, Malaysia’s Deputy Prime Minister and Minister of Energy Transition emphasized Malaysia’s role in leading the ASEAN Power Grid (APG) and its efforts toward net-zero greenhouse gas emissions. This includes plans like the Energy Transition Roadmap (NETR) and the Hydrogen Economy Roadmap (HETR).
Lao PDR’s Minister of Energy and Mines, H.E. Phosay Sayasone, highlighted the importance of AEO8 as a guide for ASEAN’s sustainable energy future, aligning with both national and regional goals.
AEO8 provides detailed data from ASEAN member countries and partners, showing four future scenarios:
- Baseline Scenario (BAS): No additional efforts on energy efficiency and renewable energy.
- AMS Target Scenario (ATS): Impact of current national energy goals and policies.
- Regional Aspiration Scenario (RAS): Least-cost power sector optimization while meeting 2025 regional targets.
- Carbon Neutrality Scenario (CNS): Focus on decarbonization with low-emission technologies.
Key Findings:
- Energy demand is expected to grow 2.6 times by 2050.
- By 2025, ASEAN will exceed targets for renewable energy and improve energy efficiency. By 2030, the region could achieve 23.5% renewable energy in total energy supply.
- New technologies like nuclear and tidal energy will enter ASEAN’s energy mix by 2032 and 2035.
AEO8 is a key resource that helps ASEAN countries work toward energy security, affordability, and sustainability, guiding the region through its energy transition.
