How will the Philippines achieve energy security?

The Philippine government envisions the Philippines will increase its renewable energy (RE) share in supply mix to 35% by 2030 and 50% by 2050, promote energy efficiency and conservation, and pursue emerging technologies to achieve energy security.

Should the Philippines increase natural gas power plants' capacity?

BCG’s Lackovic said the Philippines must increase the natural gas power plants’ capacity, whilst ensuring a well-planned exit from coal for the long-term as this will entail forward visibility to investors, and coordination of investments to ensure that the capacity will be replaced by other sources as the coal plants go offline.

Why is energy a problem in the Philippines?

“The price of energy in the Philippines is among the highest in the world, and supply is not very stable, so it's hard for businesses to be reliant on the grid alone,” says Jo Ann Eala, Vice President and Head of the Bank of the Philippine Islands (BPI)’s Sustainability Office.

Are solar and hydro plants a viable energy source in the Philippines?

While the Philippines is trying to increase its energy production facilities from renewables like solar and hydro plants, these technologies cannot provide sufficient, stable and dependable energy.

Does the Philippines need a 'vibrant' private sector?

It must be pointed out that the Philippines is abundant in resources and would do well to drive policies that further encourage investors, particularly from the “vibrant” private sector, said Ramnath Iyer, the research lead on Climate & Renewable Energy Finance for Asia at the Institute for Energy Economics and Financial Analysis (IEEFA).

Is the Philippines facing an energy crisis?

The Philippines is facing a mounting energy crisis as the Malampaya natural gas fields, currently supplying 30% of Luzon’s energy consumption, are expected to be depleted by 2024-2025.