YTL chief calls for consistency in Asean energy policy

 Francis Yeoh ....is a futuristic man... I am inspired by him... 

KUALA LUMPUR: YTL Corp Bhd group managing director Tan Sri Francis Yeoh urged Asean member countries to work on a transparent regulatory framework to facilitate the creation of an energy policy that is consistent across the region. This will enable its 600 million population to enjoy cheaper rates of utilities without relying on subsidies provided by some governments.
“Asean countries cannot continue the policy of subsidising electricity. If you find a framework that can actually introduce competition and investment, electricity price will be inexpensive and consistent,” he said.
He said that it was not globally competitive if electricity was subsidised and drew an example of the situation in Greece where the country's electricity producer was unable to pay its gas supplier.
“You will not be competitive if your country can no longer afford to subsidise. Then, the country will be uncompetitive and unemployment will arise,” he said.

Yeoh said: “A transparent and consistent regulatory system is necessary for Asean to be globally competitive to attract foreign investors. We can then cross invest in pipelines and gas. It can be done if there is an Asean power grid.
“Economic bridges must be built across Asean quickly. That is tough but substantial.”
He said the challenge faced could be due to political rivalry as the member countries were at different stages of economic development.
“Technically, infrastructures can be built without much difficulties but politically, it can be challenging,” he said.
He also said YTL was in Britain, Singapore and Australia because their regulatory frameworks were transparent and clear. “If we make Asean's regulatory framework this way, we are able to attract many other investors who would like to compete in such a system.