Energy regulators from 12 countries convened at the Asia Pacific Energy Regulatory(APER)Forum from 27–28 October 2021 during the Singapore international Energy Week to discuss global energy developments and key challenges facing our energy systems.
Chaired by the Energy Market Authority (EMA) of Singapore ,the Forum was well attended by energy regulators from Australia, People’s Republic of China ,India, Japan ,Republic of Korea ,NewZealand ,Samoa ,Thailand ,Tonga and the United States of America.
Invited guests include representatives from Malaysia Energy Commission , International Energy Agency(IEA), International Renewable Energy Agency(IRENA), and academic and industry experts.
The meeting saw a robust exchange of views on the recent global energy supply crunch.Against the backdrop of higher volatility in the electricity markets ,the regulators discussed the measures taken to ensure security and reliability of energy supply and safeguards for consumers.
The meeting also discussed regulatory challenges related to energy transition plans and decarbonisation targets ,shared best practices to enhance system integration of renewables ,and measures to strengthen grid stability and resilience.
As Chair o f the APER Forum ,Mr Ngiam Shih Chun ,Chief Executive of EMA said,” The global energy crunch has shown how complex and closely intertwine dare the supplychains. This meeting is timely to discuss the immediate issues facing our energy systems, and longer-term issues which energy regulators will need to address to advance the energy transition.”5Ms MaryWarlick ,the Deputy Executive Director of the IEAsaid,“The IEA’s Net Zero by 2050 Roadmap shows that a major scaling-up of clean and efficient energy technologies is needed to put global emissions into structural decline and to help reduce future risks to energy markets.
Currently a combination of a strong economic growth,tighter-than-expected supply and multiple weather-related factors ,is putting strong pressure on natural gas markets in many parts of the world ,including Asia and Europe.
This highlights the interconnected nature of the global energy system and the risks of delaying clean energy transitions.
Transitioning our energy system to one that is based on renewables ,and aligning our economies with a 1.5°C future i s a substantial undertaking. But it is one that we know pay s off significantly for people , for countries and for our environment in the long run ,”said Gauri Singh, Deputy Director General of IRENA.
“It is critical that policy makers,regulators and investors look beyond the short-term challenge of the current energy crisis and align plans with national and global objectives to achieve carbon neutrality by the middle of this century .These are important choices that should be made now ,with perspective and vision.”
The next APER Forum will be hosted by the National Energy Administration of the People’s Republic of China.
Received from Press Release