IEA warns Southeast Asia faces soaring energy costs after war-related disruptions

IEA warns Southeast Asia faces soaring energy costs after war-related disruptions Southeast Asian countries could face sharply rising energy costs unless they accelerate efforts to diversify their energy supplies, according to a new report released on Tuesday by the International Energy Agency (IEA). The report says disruptions linked to the US-Israeli war on Iran, including the closure of the Strait of Hormuz, triggered an energy shock across the region, leading to higher fuel costs and increased inflation. In response, several countries have expanded investment in alternative energy sources, with rising electric vehicle sales, renewed interest in nuclear power and rapid growth in rooftop solar and other renewable energy projects.