Utility firms in southeast Asia are preparing to invest heavily in smart technology to meet growing demand for reliable energy in the region, a leading energy expert claims.
Zaf Coelho, project director for the Southeast Asia Utility Business Platform, says utility companies in the region are already spending billions on infrastructure upgrades, as they seek to match demand for energy that is outstripping current supplies. The International Energy Agency predicts primary energy demand in southeast Asia will grow at 2.3% each year through 2035, almost twice the average 1.2% growth forecast for other global markets.
“Developing smart grid programs, upgrading ageing asset, installing prepayment and smart meters are some of the areas which the utilities have identified for heavy investment,” Coelho says in a statement by smart systems firm Orga Systems.
Demand in the region is growing as people get richer, and due to increasing urbanization and industrialization, Orga explains. It states national governments must get behind utility firms’ efforts to improve network efficiency by investing in smart grids and back office tools that will enable energy companies to implement demand side management strategies.