This policy report from the Andalus Committee's Indo-Pacific Center examines the ASEAN Power Grid as a strategic framework for advancing regional energy security and collective resilience in Southeast Asia. While energy integration is often discussed in technical terms, the report finds it is fundamentally shaped by geopolitical pressures — particularly the intensifying US-China rivalry that threatens ASEAN's diplomatic space and capacity for strategic non-alignment. Despite decades of planning since the APG's conception in 1997, progress has remained uneven, constrained by fragmented national regulations, inconsistent green taxonomies, and a persistent financing gap estimated at over US$100 billion by 2045. The report identifies the absence of coordinated regional financing mechanisms and institutional continuity as the defining obstacles to realizing the grid's potential. It proposes a concrete reform agenda centered on establishing a permanent APG Secretariat, developing a regional blended-finance platform, and advancing a harmonized green taxonomy — reframing the power grid not merely as an infrastructure project, but as a cornerstone of ASEAN's long-term energy sovereignty, economic integration, and low-carbon future.