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19 June 2025 (closed)
Jakarta Composite Index (6,968.64) -139.15 -1.96%
Below is a list with tagged columns and company profiles.
Latest Reports Energy
An important document was released by Indonesia’s state-owned electricity firm Perusahaan Listrik Negara (PLN) at the end of May 2025. This document is titled the Electricity Supply Business Plan (in Indonesian: Rencana Usaha Penyediaan Tenaga Listrik, RUPTL) and covers the 2025-2034 period.
Indonesia has impressive potential for geothermal power. However, the country struggles to tap the potential of this renewable energy source. Not only does it prove difficult to encourage investment in exploration and exploitation, but sometimes there also exists resistance from the local population.
In December 2024, Indonesia’s Ministry of Energy and Mineral Resources released a statement in which it said that renewable energy accounts for 13.93 percent of the national energy mix. Meanwhile, the ministry hopes this percentage can touch 14.1 percent by the end of 2024 especially supported by geothermal power development.
On 30 May 2024 a new government regulation took effect that might have an impact on the coal mining industry of Indonesia. This regulation is Government Regulation No. 25 of Year 2024 on the Amendment of Government Regulation No. 96 of 2021 on the Implementation of Mineral and Coal Mining Business Activities (henceforth: Regulation 25/2024).
The stock market experienced turbulent times in May 2024. Indonesia’s benchmark stock index (Jakarta Composite Index, or, IHSG) in particular showed some volatile behavior, with daily increases and declines of more than one percent taking turns. However, the overall trend was negative in May 2024, as the IHSG shed 3.6 percent from a level of 7,234.20 points at the end of April 2024 to 6,970.74 points at the end of May 2024.
Geothermal energy is a (relatively) environmentally friendly power source that is derived from Earth's inner heat (the Earth’s core is estimated to carry temperatures around 5,500 degrees centigrade, which in fact equals the temperatures found at the surface of the Sun).
While hydropower is never much featured (or discussed) in Indonesian media, it is actually the biggest source of renewable energy for Indonesians. Based on data from Indonesia’s Energy and Mineral Resources Ministry, the nation’s hydropower-fueled power plants had a total installed capacity of 6,688.9 megawatt (MW) at the end of 2022.
The Energy and Mineral Resources Ministry of Indonesia announced in January that the B35 biodiesel program is scheduled to be imposed on 1 February 2023 (implying a one-month delay as the B35 program was supposed to take off on 1 January 2023).
Indonesia ended 2022 with a modest increase in inflationary pressures. Indonesia’s Statistical Agency (or BPS) announced that December 2022 inflation reached 0.66 percent month-on-month (m/m), higher than our forecast of around 0.50 percent.
Again, we were surprised by the low level of inflation in Indonesia. While usually we see rising inflationary pressures in the month of November (ahead of the peak in the December-January period), this time it was a different story.
Latest Columns Energy
Energy is certainly the ‘thing’ to watch in the years, well decades, ahead. Amid heavy political pressures from the West, the world is heading for an unprecedented energy transition in which fossil fuels are going to be replaced by renewable energy sources. This is certainly great news for the environment (but whether the energy transition can ease, let alone stop, climate change – which is cited as the goal of this transition – seems iffy though).
Currently, coal certainly ranks among the most interesting commodities. On the one hand, Indonesia expressed its commitment to reduce consumption of this dirty fossil fuel (that is especially used as raw material for the generation of electricity in power plants but also in various manufacturing industries such as the cement industry and textile industry) as the country seeks to become ‘carbon neutral’ by 2060 (although many doubt to what extent Indonesia is really committed to this ambition; after all, it has more immediate concerns such as the dozens of millions of Indonesians living below, and just above, the national poverty threshold).
The Energy and Mineral Resources Ministry of Indonesia has recently been making efforts to encourage the development of solar energy around this vast Archipelago. On 20 August 2021 it issued Energy and Mineral Resources Ministry Regulation No. 26 of 2021 on Solar Rooftop Connected to the Grid of Power Supply Business License for Public Interest Holders (henceforth: Regulation 26/2021).
Besides the novel coronavirus (COVID-19) outbreak, another big news story in March 2020 was the massive decline of global crude oil prices. Not only is the price of oil under pressure because of the enormous slowdown in economic activity as various governments have imposed restrictions (such as travel bans) in an attempt to curb the further spread of the coronavirus, but there also emerged big tensions between some of the world’s biggest oil producers that led to tumbling oil prices.
Shares of Perusahaan Gas Negara, the largest natural gas transportation and distribution company in Indonesia, are showing spectacular growth in 2018. On Tuesday (23/01) the company's shares surged 8.91 percent to IDR 2,690 a piece. So far this year, its shares have grown a whopping 53.71 percent. What is the story behind this spectacular performance?
Amid rising mining commodity prices, Indonesian coal mining company Adaro Energy saw its share price surge at the start of 2018. The mining index is actually the best-performing index so far this year in Indonesia, rising 13.58 percent since the start of the year. Being a mining company - or more precisely an energy company (as it recently entered the power generation sector) - Adaro Energy is among the major beneficiaries.
Chandra Asri Petrochemical, one of Indonesia's largest petrochemical companies, is busy with (at least) four projects that should boost the company's performance in the future. The four projects involve the expansion of its butadiene plant, development of a synthetic butadiene rubber plant, development of a coal gasification plant, and expansion of its second petrochemical plant.
Mitsubishi Hitachi Power Systems Ltd (MHPS), the Japan-based manufacturer of thermal power generation systems, started construction on the Cirebon Coal-Fired Power Plant Expansion Project in Indonesia's West Java province.
As Indonesia is increasingly focusing on renewable energy sources, the potential of geothermal power in Indonesia is usually in the spotlight. However, the potential of ocean thermal energy conversion (OTEC) is seldom mentioned, while it is estimated that Indonesia's OTEC potential is around 41,000 megawatt (MW), among the biggest worldwide.
In 2018 Indonesia is expected to become the world's second-biggest geothermal energy producer, surpassing the Philippines that now lies second after the United States. Meanwhile, Indonesia's Energy and Mineral Resources Ministry projects Indonesia to become the world's largest geothermal power producer by 2021. These developments are based on ongoing geothermal development in Southeast Asia's largest economy.
Associated businesses Energy
