Energy Market Research Articles

Transition-metal-based hydrides for efficient hydrogen storage and their multiple bond analysis: A first-principles calculation

Hydrogen energy plays a growing role in the present energy market and attracts more attention in scientific researches and commercial application. Hydrogen energy has an increasing attractive in energy market due to its high energy density, pollution-free utilization usage and wide availability. Current challenge which obstructs large-scale application is safe and reliable hydrogen storage, which requires finding promising materials to promote hydrogen energy. Therefore, we have predicted three potential lithium-transition metal-based hydrides LiTM3LiH8 (TM = Sc, Ti V) for hydrogen storage based on first principles calculation. The stability analysis based on formation energy, elastic constants and phonon spectra confirms all hydrides are stable and feasible in practical application. Besides, they have a increasing ductility in the order of Sc, Ti and V. Among all studied materials, LiV3LiH8 has the best mechanical characteristics due to its excellent ductility and high Young's modulus (123.19 GPa), which are beneficial for resistance to adverse external surroundings. The electronic properties suggest that all hydrides metallic in band structures. Meanwhile, we analyzed how hydrogen was storage and the binding information from multiple perspectives, including the charge analysis, DOS, ELF and COHP. From multiple analyses of bond strengths, except the strong binding from transition metal, the centered Li atom is verified to possess greater influence than corner Li atom, which makes a viable regulation of hydrogen properties by substituting centered alkali metal atom in future. As concluded in this study, LiTi3LiH8 has a high storage capacity of 4.83 wt% along with a desorption temperature of 305.5 K, which is considered as a promising hydrogen storage material.

Community Choice Electricity Aggregation and Solar Adoption: Evidence From Illinois

We explore whether municipalities voting on the community choice aggregation (CCA) model of electricity procurement relates to the adoption of small-scale distributed solar in the US state of Illinois. Municipalities that held a referendum for CCA were more likely to have small-scale solar installations compared to those that did not. Among municipalities with solar installations, those that held CCA referendums have lower per capita solar power generation than those without CCA referendums. The impacts of CCA referendums on small-scale solar adoption are mixed and should be combined with other strategies to promote broader solar adoption in the U.S. energy market.

Consumer Motivations for Solar Energy Adoption in Economically Challenged Regions

This study aims to investigate the factors contributing to and affecting consumer behavior toward renewable energy by following the theories of reasoned action and planned behavior. For this reason, a quantitative research method was employed and primary data were collected via a questionnaire, resulting in a random sample of 450 respondents. Structural equation modeling (SEM) revealed that concern for environmental commitment positively affects attitudes toward solar energy (β = 0.272, p < 0.001), positive subjective norms toward environmental commitment positively influence attitudes (β = 0.092, p < 0.001), perceptions of solar energy values significantly shape attitudes (β = 0.533, p < 0.001), social influence also plays a role in shaping attitudes (β = 0.047, p < 0.001), and that regulations (behavioral control) have a negative impact on attitudes (β = −0.204, p < 0.001). A positive attitude toward solar energy strongly predicts purchase intention (β = 0.944, p < 0.001). The overall model highlights the direct influence of attitude on buying intention and underscores the roles of environmental concern and functional utility in shaping consumer attitudes. This study contributes to the existing literature on renewable energy adoption by providing empirical evidence on the factors influencing consumers’ attitudes toward solar energy systems. By identifying key predictors, the study offers valuable insights into how these elements shape consumer attitudes and subsequent purchase intentions. Additionally, the study enhances the understanding of the role of positive attitudes in driving investment in solar energy, thereby contributing to both theoretical frameworks and practical applications in energy policy and marketing strategies.

Resource Adequacy and Integration of Renewables in Light of US, EU, and Pakistan’s Evolving Power Sector

This study investigates resource adequacy and renewable energy integration in the United States, European Union, and Pakistan amid global energy market liberalization and greenhouse gas reduction efforts. It explores how these regions are adapting to the surge in renewable sources like wind and solar, which, despite their financial and environmental benefits, challenge resource adequacy and the economic viability of traditional energy sources. In the US and EU, significant improvements have been introduced in wholesale electricity markets and capacity accreditation mechanisms, which enhanced the large-scale deployment of renewables. This shift has prompted a reevaluation of resource adequacy, leading to the increased deployment of battery storage and demand response. Presently, gas-based generation is largely upholding resource adequacy; however, future trends indicate a move towards greater consumer participation, energy efficiency, and utility-scale storage, with a decline in fossil fuel use. Pakistan aims to adopt a liberalized market structure by balancing competitive markets with legacy contracts. Public pressure is driving a shift from costly fossil-based generation to renewables. Similarly, a trend in the rise of behind-the-meter solar generation can be witnessed. In the future, Pakistan may also experience resource adequacy challenges. It will likely need to implement battery storage, demand response, and modern capacity accreditation tools, by drawing lessons from developed markets.

Encounters of hesitant politics and an unwavering energy transition. Media reflections in Romania

The paper examined how political hesitancy shaped the energy transition in Romania. Aiming to reveal the contribution of the media to (re)frame energy transition, we employed topic modelling to identify the core categories that marked the interplay of actors and institutions, value systems, contingent power and resources, and the underlying policy setting. Results revealed eight major categories covering institutional setting and power struggle; the wider economic context; incumbent energy fossil fuels companies – repositioning; emerging green energy actors – positioning; geopolitics; heating and energy distribution; corporate social responsibility; energy market liberalisation, and a residual category related to press verbosity. Through these results we contributed to a finely-grained identification of specific themes on Romanian energy, added insights on how hesitancy is enacted through delays, circumventing the rules, establishing non-compliance, and denials. Our approach showed that the power transmitted by various actors through the media was politically marked and incongruent to the holistic paradigm that energy transition should embrace. Aside from its empirical focus, this paper also contributes by engaging with the hesitant politics concept that provided a flawed solution that while looked counterproductive it also proved invaluable in dodging the complex and uncertain paths of energy transition.

Stochastic Risk-driven Bidding of a Solar and Storage Aggregator in Primary Frequency and Energy Markets: A Performance-based Capacity Allocation Approach

The ever-increasing impact of deploying renewable energy resources reducing power system inertia, requires distributed energy resource (DER) aggregators to secure high-performance, fast-responding primary frequency reserve (PFR) in ancillary service markets. However, enabling immediate and local regulation of the operating point upon detecting frequency deviations imposes the necessity of allocating specific headroom for DERs. The individual headroom susceptibility to uncertainty and response speed of a certain DER not only compromises aggregated headroom performance in the PFR market but also leads to incurring unnecessary opportunity costs in the energy market and inadequate frequency control in the power system. To address this challenge, this paper introduces an integrated probabilistic performance index for DERs that considers their individual interactive heterogeneous response speed and uncertainty. Using this index, aggregators overseeing photovoltaic and smart buildings equipped with energy storage can evaluate, allocate, and remunerate optimal headroom capacity for individual DERs based on their performance. This approach ensures maximum aggregated profits and minimum opportunity costs in the PFR and energy markets while improving the performance of the provided PFR capacity, respectively. These tasks are aimed by a novel optimal capacity allocation strategy for an aggregator in both markets. This strategy employs a mixed-integer linear programming model to find the optimal solution and the conditional value-at-risk measure to tackle the uncertainties faced with the problem. The efficiency of the proposed model is assessed within a system reflecting the ERCOT market structure, demonstrating improved aggregated headroom performance, reduced energy opportunity costs, diminished risk of capacity shortage, and improved load frequency control (LFC) from the power system perspective.

Identification of optimal waste-to-energy strategies for sustainable development in Iran: SWOT analysis, hybrid MCDM methods, and game theory

The growing global focus on environmental sustainability and the pressing need for efficient waste management and energy crisis mitigation have prompted extensive investigations into sustainable waste management strategies. Given Iran's economic development and population growth, the country faces challenges in energy supply and waste management, making waste-to-energy (WtE) applications a promising solution for sustainable waste management. This study employs a combination of SWOT (Strengths, Weaknesses, Opportunities, and Threats) analysis, Multi-Criteria Decision-Making (MCDM) approaches, and game theory to explore WtE technologies and processes, evaluate their applicability within Iran's context, and identify the most effective WtE strategies for the country. Furthermore, game theory and fuzzy Shapley value analysis were utilized to determine the optimal combination of WtE development strategies. The strategy player “SO” held the highest position of power, with a fuzzy Shapley value of (0.391, 1.744, 3.264), resulting in the identification of the optimal strategy combination of SO2ST2WO1WT2, with a value of (0.429, 0.679, 0.893). The recommended combination emphasizes landfill with gas capture, development of incineration power plants, and integrated resource recovery through residue-derived fuel (RDF) implementation. Achieving these objectives necessitates energy policy reforms, pricing adjustments, improvements in the energy subsidy system, and infrastructure and market development.

Time-frequency spillovers and connectedness between Chinese climate risk perception and energy markets

Abstract With the global warming is becoming more and more serious, the global need for low-carbon economic transition is increasingly urgent. This study focuses on the time-frequency spillover effect of climate risk perception and energy market. By constructing transition risk perception and physical risk perception index and using time-frequency analysis, we quantifies the impact of climate risk perception on fossil energy and clean energy markets, and reveals the dynamic relationship between the two. The findings indicate that China’s sense of transition risk from climate change has increased since the Paris Climate Agreement, but the perception of physical risk has changed less. Moreover, the spillover effect between climate risk perception and energy markets is time-varying and increases rapidly in the face of climate or energy related uncertain events. The COVID-19 pandemic has resulted in a sharp drop in total spillover, and there is little near-information spillover between the energy markets and perceptions of climate danger. We also found that in the short term, energy market spillovers are net recipients of climate risk perception according to marginal spillover research. However, this connection changes to become a net transmitter from 2021. In the medium to long term, the perception of climate risk begins to function as a net transmitter of spillovers to energy markets.

ЕНЕРГЕТИЧНИЙ РИНОК УКРАЇНИ : СТВОРЕННЯ УМОВ ДЛЯ ЕФЕКТИВНОГО ЕНЕРГОЗАБЕЗПЕЧЕННЯ

The article analyzes the theoretical foundations of the formation of energy security on the energy market of Ukraine in the context of European integration processes, and states that energy security is a component of the state's national security. The main advantages of long-term contracts for all energy market participants are indicated. Features of the functioning of consumer companies in the competitive market are highlighted. The main risks for large consumers when working on the day-ahead market are presented. Factors of the expediency of functioning on the balancing segment are given. Current trends in the development of world energy and their impact on energy security are analyzed. The necessity of diversification of energy supply sources for Ukraine is substantiated. The influence of the European integration processes on the reform of the energy sector of Ukraine is studied. The current state of the energy market was analyzed, and the analysis of factors affecting development trends and ensuring protection in the energy market was carried out. The influence of the European integration processes on the reform of the energy sector of Ukraine is studied. The conjuncture of the energy market of Ukraine is determined, in which it is necessary to analyze not only the peculiarities of the domestic sphere, but also the influence of international relations, international trade and the world market. The PEST analysis of the energy industry of Ukraine is presented, which allowed to identify the level of influence and the neighborhood of the group of influencing factors on the formation of the strategic potential of the energy market of Ukraine. Directions for increasing the level of energy security through modernization of the energy infrastructure, development of renewable energy sources, and integration into the European energy space are proposed. It is noted that the creation of conditions for the effective use of internal resources and the development of appropriate technologies are of strategic importance. The country's government is working on integration into the European energy community, which requires compliance with European standards and the implementation of effective management models of the energy market of Ukraine. According to the results of the strategic potential of the energy industry of Ukraine, economic factors exert the greatest influence - 1.147, which just emphasizes the important role of the energy industry in the country's economy. In second place in terms of influence are political factors - 0.847. The analysis of the market just showed the rather important role of the political component in the functioning of the energy market of Ukraine, namely in the aspect of its joining the European energy market and the transformation of Ukraine into the European Union with the rights of an equal state. In third place are technological factors - 0.553, which confirm Ukraine's determination to decarbonize the energy market. And the fourth place is occupied by socio-cultural factors - 0.537, which are only marginally inferior to technological factors. This indicates a strong influence of consumer preferences when choosing interaction models in the market.

An economic analysis of tidal energy to support sustainable development

Decarbonization of the energy sector, requires a strong expansion of renewable energy, which combined with effective and efficient use of resources, enables the development of models based on the green economy. Tidal energy, which is currently underutilized, can contribute to this change by providing affordable and clean energy, thus contributing to sustainable development. This work evaluates the economic dimension of sustainability and provides a profitability analysis related to a 1 MW plant located in central Italy. The methodology consists of a technical framework, geared toward quantifying the energy potential from that plant, and economic models based on indicators such as Net Present Value (NPV), Levelized Cost of Energy (LCOE) and Discounted Payback Time (DPBT).The results show that the plant turns out to be profitable in the base case (NPV = 573 k€ and DPBT = 21 years) and policy interventions, which see the use of capital grants and subsidies, change the results to NPV ranging between 338 and 1287 k€ and DPBT between 11 and 15 years. However, alternative scenarios indicate that the variables that most impact economic outcomes are changes related to energy selling price and capacity factor. The LCOE in the different scenarios varies between 49.4–89.8 €/MWh. The implications of this work define that tidal energy supports the energy transition to sustainable development and that the mix of technical, market, and political factors must be considered in policy decision making.

Рынки электрической энергии/мощности и правовые аспекты конкуренции энергосбытовых компаний

Into this publication analyzes the legal implications of operating in electric energy and electric energy markets, competition among energy suppliers. The current condition of the market and its primary stakeholders are examined, and the principal issues and challenges encountered by energy marketing companies in this sector are identified. The study of the electric energy markets and capacity, along with the state of competition between energy supply companies, identifies key trends and problems in this area. The main challenges and limitations faced by organizations in this field are highlighted. The article also examines the impact of government regulation on the activities of energy supply companies and offers recommendations for improving their competitiveness and efficiency. In general, the issue of competition of energy marketing companies is considered, and an example is given that can be conside-red as a restriction of competition in the retail electric energy markets and capacity, conclusions are drawn on the reasons behind the predominant position of certain participants in the electric energy markets and capacity, proposals are made on the legal model of the organization of electric energy (capacity) markets.

Volatility spillover between carbon market and related markets in time-frequency domain based on BEKK-GARCH and complex network analysis

With rising public attention to climate issues and sustainable development, the connection between carbon market and its related markets has become closer. Based on BEKK-GARCH method and complex network theory, this study tries to explore the volatility spillover effects and network topology among China's carbon market, non-renewable energy market, renewable energy market, high-tech market and climate policy uncertainty index in time-frequency domain. It is found that, firstly, there are significant asymmetric volatility spillover effects among the markets. Secondly, the spillover effects between markets are time-varying, especially during crisis periods in which they are significantly higher than that during the stable period. Thirdly, with time increasing, the closer the connection between markets. In the long run, the closeness of the connection is directly proportional to the spillover effect. Finally, climate policy uncertainty is the main risk source. For full sample, from perspective of frequency domain, non-renewable energy and carbon markets are the main risk recipients. Based on the findings, it should step up efforts on market monitoring and intervention during crisis periods, strengthen cross-market risk management, pay attention to climate uncertainty and time-frequency varying characteristics of volatility spillovers, so as to provide useful information for policy makers and investors.

Hydrogen underground storage for grid electricity storage: An optimization study on techno-economic analysis

This study performs a techno-economic analysis of hydrogen underground storage systems for grid electricity storage, evaluating their economic viability at the plant scale using dynamic optimization. It explores the feasibility of various system configurations and revenue models in the context of volatile electricity prices and the necessity for multiple revenue streams. The hypothesis tested is that large-scale hydrogen storage, despite its low round-trip efficiency, can be economically viable with the right mix of revenue streams. This study uses scenario-based analysis to assess the impacts of different system configurations, including engaging in time-shifting arbitrage, ancillary service markets and blending hydrogen with natural gas. Results indicate potential annual net cash flows of up to $1.5 million from ancillary services integration and $5.2 million from natural gas blending, contingent on specific system sizes. The study concludes that hydrogen underground storage for grid electricity storage can be profitable, and emphasizes that proper system design and precise electricity price forecasting are crucial for optimizing system performance and economic returns. This research sets the stage for further investigations into the scalability of hydrogen storage systems and their broader implications for grid electricity storage and energy market dynamics.

Electrokinetic Analysis-Driven Promotion of Electrocatalytic CO Reduction to n-Propanol.

The electrocatalytic carbon dioxide or carbon monoxide reduction reaction (CO2RR or CORR) features a sustainable method for reducing carbon emissions and producing value-added chemicals. However, the generation of C3 products with higher energy density and market values, such as n-propanol, remains highly challenging, which is attributed to the unclear formation mechanism of C3+ versus C2 products. In this work, by the Tafel slope analysis, electrolyte pH correlation exploration, and the kinetic analysis of CO partial pressure fitting, it is identified that both n-propanol and C2 products share the same rate-determining step, which is the coupling of two C1 intermediatesvia the derivation of the Butler-Volmer equation. In addition, inspired by the mechanistic study, it is proposed that a high OH─ concentration and a water-limited environment are beneficial for promoting the subsequent *C2-*C1 coupling to n-propanol. At 5.0m [OH-], the partial current density of producing n-propanol (jn-propanol) reached 45 mAcm-2, which is 35 and 1.3 times higher than that at 0.01m [OH-] and 1.0m [OH-], respectively. This study provides a comprehensive kinetic analysis of n-propanol production and suggests opportunities for designing new catalytic systems for promoting the C3 production.

Exploring the risk dynamics of US green energy stocks: A green time-varying beta approach

Green investments play a crucial role in fighting climate change and facilitating the shift towards a low-carbon economy in line with goals of the Paris Agreement. This paper focuses on the U.S. green energy sector, analyzing its underlying risk dynamics, especially during crisis periods. In this paper, we employ a novel green energy time-varying beta (GETVB) to assess the risk profiles of U.S. green energy stocks across different market conditions. We have chosen NASDAQ Clean Edge Green Energy Index (CELS) as the U.S. green energy market index. We use Markov-switching and discrete-threshold-regression models to examine whether the GETVB varies across regimes and is affected by market stress. In particular, we examine if the market risk of these stocks itself exhibits higher volatility during regimes of stress. Our results show that the green stocks are apparently risky, with a GETVB most likely to lie between 1.2 and 1.6. However, these stocks turn out to be resilient against market volatility with the market stress having negligible impact on GETVB. This suggests an inherent robustness of green stocks against extreme market conditions. This resilience makes the U.S. green energy stocks a potential safe destination for investors during times of significant market volatility. Based on the results, we recommend that policymakers bolster support for green investments through enhanced tax incentives and subsidies, aiming to standardize the ESG metrics for increased transparency, and aligning the international financial flows with strategies that align with meeting the Paris Agreement targets.

Geopolitical risk and energy price crash risk

This paper explores the link between geopolitical risks and energy prices crash risk. Studying energy price crashes is important given the sharp fall in oil prices in 2008 and 2014. The analysis focuses on three energy markets: natural gas, oil, and coal, while it employs two measures: the negative coefficient of skewness and the down-to-up volatility, to construct proxies for crash risks. The period of examination is January 2000 to December 2023, whereas that for coal is January 2010 to December 2023. The study employs a modified version of the smooth transition autoregressive model. The results show that, within the modelling framework, coal and oil crash risks are driven by the cyclical behavior of geopolitical acts, whereas natural gas crash risks by geopolitical threats. Causality tests confirm the prediction that geopolitical tensions cause crash risks in energy markets. The results also confirm that the “Economic Activity Channel” is only valid for energy markets driven by geopolitical threats. Energy market regulators should be concerned about crash risks, given that the energy supply shows cyclical boom and bust cycles in prices and production. Crash risks could also potentially cause a fall in investments required to enhance energy efficiency.

The dependence structures between geopolitical risks and energy prices: New evidence from regional heterogeneity and quantile-on-quantile perspective

We construct GPR indices for six major regions and select three categories of energy markets. Utilizing a quantile-on-quantile connectedness approach and impulse response analysis, we investigate the changing patterns of connectedness between these variables under different levels of GPRs and various energy market conditions. Furthermore, we explore the intensity, direction, and duration of GPRs impacts on energy markets. Our findings reveal that the total connectedness tends to be minimal at intermediate quantiles (50 %)—approximately 20%—increasing significantly toward both higher (95 %) and lower quantiles (5 %), with an enhancement of approximately 125 %–250 %. The maximum total connectedness between GPRs and Oil, Coal, and Gas is 87.2 %, 90.9 %, and 86.5 %, respectively. Connectedness during periods of extremely high GPRs percentile (95 %) is 30 % greater compared to low quantiles (5 %). The impact of GPRs on Oil typically lasts about 3–5 months, with a shorter duration of around 3 months for Gas and a longer duration of approximately 5 months for Coal, which can be prolonged by major events. Our conclusions underscore the importance for policymakers and traders to monitor the evolving patterns of connectedness between GPRs and energy markets under changing conditions, ensuring comprehensive risk awareness and robust trading decisions.

Spillover and dependence between Chinese carbon and new energy stock markets: A cross-quantile perspective

The interplay between China's carbon emissions trading market and the new energy stock market has attracted increasing scholarly attention, given their alignment with green and sustainable development goals. This study utilizes the Cross-Quantilogram methodology to assess predictability and spillover dynamics in the Chinese carbon markets and the new energy stock markets across various quantiles. The analysis yields some significant findings: (1) Despite the small magnitude, bidirectional spillover effects are discernible between China's carbon market and the Chinese new energy market, with heterogeneous correlation among the three pilot carbon markets. (2) The cross-quantile correlation among markets exhibits varying dynamics with increasing lag orders. (3) During market downturns, the new energy market poses short-term abnormal extreme risks as a spillover source for the Guangdong carbon market, while exhibiting a stronger spillover effect on the Hubei carbon market during longer lag periods. (4) Certain sectors, such as the wind power, nuclear power, and photovoltaic sectors, stand out with a more pronounced cross-quantile in relation to the carbon market. (5) Both risk events and policy changes play a significant role in shaping market interactions. (6) Including Guangdong and Hubei carbon asset in a portfolio can effectively reduce the volatility risk of new energy stock portfolios. A valuable comprehension of the intricate interdependencies between China's carbon market and new energy assets is provided by this research, benefiting policymakers and investors in the energy and environmental sectors.

An optimal scheduling strategy for electricity-thermal synergy and complementarity among multi-microgrid based on cooperative games

Multi-microgrid (MMG) systems provide an effective way to convert renewable energy into other forms of energy for low-carbon utilization. However, the coupling of multi-energy and renewable energy brings a challenge to the stable operation and dispatch of the system. Therefore, an electricity-thermal-gas-hydrogen MMG complementary optimization model based on peer-to-peer (P2P) electricity-thermal synergy is proposed. The model focuses on the coupling and conversion of electricity, hydrogen, and thermal through a hydrogen energy storage system (HESS) combined with renewable energy, and incorporates integrated demand response (IDR) and ladder-type carbon trading mechanism (LCTM). Subsequently, based on the cooperative game and the alternating direction multiplier method (ADMM), a multi-energy synergistic and complementary optimal scheduling strategy is proposed, which increases the flexibility of multi-energy sharing. In addition, a revenue allocation optimization strategy that takes into account the fairness and renewable energy consumption rate is proposed to achieve the stability of the alliance system operation. Finally, the simulation results show the effectiveness of the proposed model and strategy, realizing the complementary sharing of regional multi-energy, enabling the expansion of the boundaries of optimal energy allocation, further improving the low-carbon economic operation capability of MMG, and reducing the dependence of the system on the energy market.

Bridging the Gap between Policy and Net-Zero Realization in Indonesia: An Outlook of Available Approaches

Abstract Indonesia has been ambitious with its efforts to tackle climate change and achieve net zero carbon emission. This is reflected by the Nationally Determined Contribution (NDC) that has been defined by the Government and presented during the Copenhagen Accord, Paris Agreement, and Glasgow Climate Pact. In realization, Indonesia has also pledged to achieve net-zero carbon emission by 2060, especially in the energy sector. The Ministry of Energy and Mineral Resources (MEMR/KESDM) of Indonesia has published its plan to achieve said targets through diversification and intensification of new and renewable energy resources. New and renewable energy bill is also currently being discussed in Indonesia’s House of Representative (DPR-RI). However, the reality is that the country is facing several challenges in meeting its targets, and the plans and targets set by the government in the energy sector are not being achieved. In this paper, we analyze the factors that have hindered the implementation of Indonesia’s energy transition plan and suggest potential solutions for filling the gaps. To achieve the NDC, we suggest that Indonesia must identify new resources and intensify the use of existing resources. Additionally, the paper provides recommendations on energy market policy that can help to accelerate the transition to sustainable energy. This paper would provide a future outlook on Indonesia’s energy policy and energy market. by adopting new energy technologies, increasing investment in renewable energy, and developing policies that support the transition to a low-carbon economy. Our analysis highlights the importance of addressing the challenges faced by Indonesia’s energy sector and the need for a comprehensive strategy that takes into account the complex interplay of factors that affect the energy transition process.