The member states of ASEAN have together identified a need to develop the ASEAN Power Grid and enable the multilateral cross-border trade of electricity in a coordinated manner within ASEAN. This has been set out in the ASEAN Plan of Action for Energy Cooperation (APAEC) 2016–25. Moving forward from the current situation, this paper reviews the key components and feasibility of establishing an interconnected and competitive multilateral electricity market within the ASEAN countries. An indicative roadmap is developed based on an in-depth survey of experts to profile an appropriate market design for the multilateral trade of electricity in the ASEAN.