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Good regulatory practices for better smart grid deployment

Economies with a desire to fully deploy smart grid technologies need to make better use of international standards and not create unnecessary technical barriers to trade, said experts.

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The estimated median cost of cyber crime for an organization—including loss of property, loss of productivity, and cost to remediate—rose from US$3.8 million in 2010 to US$5.9 million in 2011

Economies with a desire to fully deploy smart grid technologies need to make better use of international standards and not create unnecessary technical barriers to trade, said experts.

At an APEC workshop on regulatory approaches to smart grid investment and deployment, regulators from the region sought to better coordinate across their agencies to facilitate the trade and investment of smart grid technology. The event took place alongside the 5th World Forum on Energy Regulation in Quebec City, Canada.

APEC recognizes smart grid deployment as a means to address climate change, improve energy efficiency and promote green growth. Chair of the Korean Electricity Regulatory Commission, Professor Ja-Yoon Koo, said that smart grids are key to enabling the greater use and integration of renewable energy sources in businesses and homes.

“For smart grids to truly take off, we have to consider developing and adopting common interoperability standards across the APEC region,” Prof. Koo told participants at the workshop.

“Adhering to such standards can significantly contribute to the trade and investment in smart grid technologies,” he added. “This will in turn create new business opportunities and greatly benefit consumers, as well as the environment.”

via Good regulatory practices for better smart grid deployment – Asia-Pacific Economic Cooperation.

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Myanmar

Digital Revolution and Repression in Myanmar and Thailand

Activists have also proactively published social media content in multiple languages using the hashtags #WhatsHappeningInMyanmar and #WhatsHappeningInThailand to boost coverage of events on the ground.

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By Karen Lee

Following the February 1 coup, Myanmar’s netizens became the latest to join the #MilkTeaAlliance, an online collective of pro-democracy youth across Asia.

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Ecommerce

How will oil prices shape the Covid-19 recovery in emerging markets?

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How will oil prices shape the Covid-19 recovery in emerging markets?

– After falling significantly in 2020, oil prices have returned to pre-pandemic levels
– The rise has been driven by OPEC+ production cuts and an improving economic climate
– Higher prices are likely to support a rebound in oil-producing emerging markets
– Further virus outbreaks or increased production would pose challenges to price stability

A combination of continued production cuts and an increase in economic activity has prompted oil prices to return to pre-pandemic levels – a factor that will be crucial to the recovery of major oil-producing countries in the Middle East and Africa.

Brent crude prices rose above $60 a barrel in early February, the first time they had exceeded pre-Covid-19 values. They have since continued to rise, going above $66 a barrel on February 24.

The ongoing increase in oil prices, which have soared by 75% since November and around 26% since the beginning of the year, marks a dramatic change from last year.

Following the closure of many national borders and the implementation of travel-related restrictions to stop the spread of the virus, demand for oil slumped globally.

In the wake of the Saudi-Russia price war in early 2020, Brent crude prices fell from around $60 a barrel in February that year to two-decade lows of $20 a barrel in late April, as supply increased and demand plummeted. The value of WTI crude – the main benchmark for oil in the US – fell to record lows of around $40 a barrel last year on the back of a lack of storage space.

While global demand for oil remains low, one factor credited with reversing the trend is the decision to make significant cuts to oil production, which subsequently tightened global supplies.

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