Phnom Penh: The electricity demand next year is likely to rise. This was said by the Minister of Mines and Energy, Suy Sem during the 15th East Asia Energy Ministerial Summit on "Cambodia's Energy Policy Plan, Challenges and Transitional Efforts Towards Carbon Reduction" held on Thursday morning. The Ministry has predicted that in 2022, Covid-19 cases will go down, considering the rapid vaccination by the government.
Minister Sem says, "According to the latest forecast of the International Monetary Fund, Cambodia's economic outlook is expected to recover next year, with a growth rate of about 6.9% in 2025. Therefore, if the IMF forecast is correct, we expect Cambodia's energy demand to increase at a rate similar to the level before Covid-19."
Although recovery is expected next year, Minister Sem says that the kingdom still faces uncertainty about the spread of the Covid 19 pandemic. He says, “Other categories are faster than expected, which continues to disrupt the global economic recovery. Prior to the outbreak of the Covid-19, Cambodia's economy grew at an average rate of 7% per year and demand for electricity increased between 15% and 23%.”
He has conveyed that the Royal Government of Cambodia recognises the need to expand access to modern, affordable and reliable electricity which at the same time can reduce the density of greenhouse gas emissions. These are being considered as essential for Cambodia to achieve both the goals and the agenda of social and economic development, and the energy transition goals towards carbon offsets.
He believes that there is a need to accelerate the integration of digital technologies, clean fuels, renewable energy and clean energy technologies to reach the goal of reducing carbon emissions. He has stated, “Cambodia is committed to reducing greenhouse gas emissions in its energy production. To achieve this, we expect to generate energy from multiple renewable energy sources and energy efficiency projects in the near future. Indeed, it is an opportunity for the private sector and the government to work together to mobilize investment and financing to achieve this change.”
