The globalization of energy markets in Asia

Energy market globalization brings significant benefits for producers and consumers, if the political can be mustered to implement thoroughgoing, market oriented reforms. Experience in power trade zones in Europe and North America shows that to achieve the benefits of fully fledged trade, the countries in the subregion need to closely coordinate electricity sector policy, operating protocols, and network development. This note sets out the market development options, reviews sector reforms so far, assesses the obstacles to full power trade, and briefly outlines multilateral efforts to promote an infrastructure that supports international power trade in the subregion. This paper presents the globalization of energy markets in Asia