Malaysia to lead push for Asean Power Grid as regional chair, says DPM Fadillah in London
LONDON, April 24 — Malaysia, as the Asean chair in 2025, will focus on realising the Asean Power Grid and improving the energy exchange programme among member states, said Deputy Prime Minister Datuk Seri Fadillah Yusof.
He said that realising the power grid will improve energy security, accessibility and affordability not only within Malaysia but also among other Asean member states.
Fadillah, who is also the energy transition and transformation minister, said one of the issues regarding energy supply among Asean countries is that there are instances where a member state has extra power but cannot export the surplus.
'We are chairing Asean this year, so our focus will be on the Asean Power Grid. Within the Asean region, we need to support each other.
'So our focus this year is to come up with regulations and also study from other countries how we can improve the energy exchange programme among the (Asean) member states,' he said at the 'A Whole-of-System Approach-Addressing the Energy Trilemma' panel discussion held during the Summit on the Future of Energy Security event at the Lancaster House, here today.
The topic was discussed during Plenary Session 1, titled 'Mapping the Energy Security Landscape-Defining a Holistic Approach of the Summit'.
Among the other panellists were Spanish Deputy Prime Minister and Minister for the Ecological Transition and the Demographic Challenge Sara Aagesen Munoz, Iraqi Deputy Prime Minister and Energy Affairs and Minister Hayyan Abdel-Ghani, Egyptian Petroleum and Mineral Resources Minister Karim Badawi, as well as Colombia's Mines and Energy Minister, Edwin Palma Egea.
Fadillah elaborated that by focusing on the power grid, Asean will be able to achieve energy security and affordability in terms of the electricity supply through cooperation among all the member states.
'We also will be able to contribute towards our commitment to clean energy for future generations,' the deputy prime minister said.
Fadillah added that Malaysia updated its energy policy by introducing the National Energy Transformation Roadmap (NETR), which focused on ensuring Malaysia has a secure electricity supply countrywide and also contributing to the region's energy security.
The deputy minister highlighted that cooperation within the region is also one of the focus areas Malaysia is exploring in terms of commitment to the energy trilemma of balancing sustainability, security, and affordability.
'In order to do that, we formed an implementation and planning committee for electricity at a high level between agencies and ministries that would decide in terms of planning the energy requirement and what the energy mix for the future would be,' he said.
The two-day Summit on the Future of Energy Security that kicked off today was organised by the International Energy Agency (IEA) and the United Kingdom (UK) government and will see global decision-makers convene to advance actions to map and mould the future of energy security. — Bernama
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Malaysia Sun
36 minutes ago
- Malaysia Sun
Economic Watch: ASEAN integration drives development of independent regional financial system, analyst says
KUALA LUMPUR, June 28 (Xinhua) -- Greater economic integration among the members of the Association of Southeast Asian Nations (ASEAN) is accelerating efforts to build an independent and resilient regional financial system, aimed at reducing reliance on external currencies and enhancing monetary stability across Southeast Asia, according to a Malaysian analyst. These moves are not meant to target any specific country but rather reflect a desire to move away from external financial volatility and facilitate transactions using local currencies for intra-ASEAN trade, which will enable seamless cross-border transactions, provide greater market access for micro, small and medium enterprises (MSMEs), and also boost regional tourism, Lee Pei May, a political expert at the International Islamic University Malaysia, said in a recent interview with Xinhua. "The push for the use of local currencies has been ongoing for some time, as it helps strengthen the economic integration of ASEAN member states -- an important goal that ASEAN seeks to pursue. In fact, other regions are also moving away from relying too heavily on a single foreign currency, such as the U.S. dollar, as external interest rates and shifting government policies may cause significant volatility in currency exchange," she explained, adding that volatility is undesirable in any business. "Apart from the benefits of easier and faster transactions between businesses and banks of ASEAN countries through the use of local currencies, cross-border payments in local currencies can also help to avoid the volatility from outside the area," she said. Lee also said that allowing cross-border settlements in local currencies would be faster and cheaper, and singled out the tourism sector as a big winner, as tourists in the region will not need to go through the hassle of changing physical money when visiting other ASEAN states. "The Regional Payment Connectivity (RPC) initiative was first established to strengthen payment connectivity among the five ASEAN members, notably Malaysia, Thailand, Singapore, Indonesia and the Philippines. To date, the initiative has expanded to include central banks of Vietnam, Laos, Brunei and Cambodia," she said. "The participation would bring about seamless cross-border transactions and boost tourism in the region. Under the local currency settlement framework, many national payment systems have been linked, such as between Malaysia and Indonesia," she said. Lee also noted that the ASEAN push for local currencies and reduced dependency on external monetary systems has gained momentum amid growing awareness of the risks posed by relying on the U.S. dollar. "In the past, certain currencies were viewed as stable, but due to increasingly unpredictable global developments, this perception is shifting," Lee said, adding that if economic tools were to be used to exert pressure on policy differences, it could have negative implications. "Such risks, even if unlikely, remind us why building regional financial resilience is critical," she said.

The Star
3 hours ago
- The Star
Asean integration drives development of independent regional financial system, analyst says
SOUTH-EAST ASIA (Xinhua): Greater economic integration among the members of the Association of South-East Asian Nations (Asean) is accelerating efforts to build an independent and resilient regional financial system, aimed at reducing reliance on external currencies and enhancing monetary stability across the region, according to a Malaysian analyst. These moves are not meant to target any specific country but rather reflect a desire to move away from external financial volatility and facilitate transactions using local currencies for intra-Asean trade, which will enable seamless cross-border transactions, provide greater market access for micro, small and medium enterprises (MSMEs), and also boost regional tourism, Lee Pei May, a political expert at the International Islamic University Malaysia, said in a recent interview with Xinhua. "The push for the use of local currencies has been ongoing for some time, as it helps strengthen the economic integration of Asean member states -- an important goal that Asean seeks to pursue. "In fact, other regions are also moving away from relying too heavily on a single foreign currency, such as the US dollar, as external interest rates and shifting government policies may cause significant volatility in currency exchange," she explained, adding that volatility is undesirable in any business. "Apart from the benefits of easier and faster transactions between businesses and banks of Asean countries through the use of local currencies, cross-border payments in local currencies can also help to avoid the volatility from outside the area," she said. Lee also said that allowing cross-border settlements in local currencies would be faster and cheaper, and singled out the tourism sector as a big winner, as tourists in the region will not need to go through the hassle of changing physical money when visiting other Asean states. "The Regional Payment Connectivity (RPC) initiative was first established to strengthen payment connectivity among the five Asean members, notably Malaysia, Thailand, Singapore, Indonesia and the Philippines. "To date, the initiative has expanded to include central banks of Vietnam, Laos, Brunei and Cambodia," she said. "The participation would bring about seamless cross-border transactions and boost tourism in the region. Under the local currency settlement framework, many national payment systems have been linked, such as between Malaysia and Indonesia," she said. Lee also noted that the Asean push for local currencies and reduced dependency on external monetary systems has gained momentum amid growing awareness of the risks posed by relying on the US dollar. "In the past, certain currencies were viewed as stable, but due to increasingly unpredictable global developments, this perception is shifting," Lee said, adding that if economic tools were to be used to exert pressure on policy differences, it could have negative implications. "Such risks, even if unlikely, remind us why building regional financial resilience is critical," she said. - Xinhua


The Star
3 hours ago
- The Star
South Korea praises Malaysia's Asean Chair role in Myanmar crisis
KUALA LUMPUR (Bernama): South Korea has praised Malaysia's active leadership as Chair of the Association of South-East Asian Nations (Asean), highlighting its constructive role in promoting regional peace and stability. South Korea's Ambassador to Malaysia Yeo Seung Bae said that as Asean organises for peace and stability in South-East Asia, Malaysia as the chair plays an important and active role, especially in addressing the ongoing crisis in Myanmar. "Prime Minister Anwar Ibrahim visited Bangkok a couple of months ago and met both the military leadership and the opposition leadership. "By doing this important role as Chair, Malaysia is making a positive contribution to regional peace and stability. "In that regard, Korea highly appreciates the role of Malaysia, and our government will continue to support Malaysia's active role as the Asean Chair,' he told Bernama in an interview recently. In May 2025, Anwar initiated separate dialogues with Myanmar's junta leader Min Aung Hlaing and the opposition National Unity Government (NUG), marking a significant step towards fostering direct engagement between the conflicting parties. Subsequently, Foreign Minister Datuk Seri Mohamad Hasan said the Asean Foreign Ministers' Meeting (AMM 2025) held in May also agreed that Asean would undertake internal consultations on the proposal to appoint a permanent Asean Special Envoy on Myanmar for a three-year term, a move aimed at ensuring continuity and sustained engagement in addressing the protracted crisis. On June 22, Malaysia called for enhanced collaboration between Asean and the Organisation of Islamic Cooperation (OIC) to address the deteriorating situation in Myanmar, with a focus on ending violence, alleviating the humanitarian crisis, and supporting long-term peace in the country. Meanwhile, for the upcoming 58th Asean Foreign Ministers' Meeting (AMM) this July, Yeo reaffirmed South Korea's role as a responsible member of the international community and a strong supporter of Asean centrality, particularly in Malaysia's efforts to improve the security situation in the region. Korea is an active member of the East Asia Summit and the Asean Regional Forum, as well as being a key dialogue partner of Asean. "So definitely our new government places big importance on this July's Foreign Ministers' Meeting," he said. The 58th Asean Foreign Ministers' Meeting (AMM) will be held from July 8 to 11, 2025, at the Kuala Lumpur Convention Centre and will bring together the foreign ministers of all Asean member countries to review Asean's progress and unity, as well as discuss key regional issues. - Bernama