The Philippines has a population of 102 million in 81 provinces. By 2030, the population is expected to reach 110 million.
The country’s only source of natural gas, the Malampaya gas field, is expected to be depleted by 2022, reducing the capacity of the Luzon grid by 30%. Despite the country’s dependence on coal, the cheapest source of energy, the Philippines has the highest electricity cost in the region.
The country will require an investment of $30-billion worth of power projects in the next 15 years to meet the growing demand for electricity. There will be an additional 51 power plants by 2020 [14 coal-fired power, 32 renewable and 5 oil/natural gas-fired] with a combined total capacity of 4,880MW. These power plants will require more importation of coal, natural gas with the government having to push for a higher share of renewable energy projects in the country.
The target is to achieve a 60 per cent self-sufficiency level by 2030 from the current level of 36 per cent.
Thank you to the following individuals who made this paper possible:
Director Mario Marasigan of the Department of Energy, Renewable Energy Bureau
Ms. Tata Corpuz of the Australian Trade Commission (AusTrade Manila), Mining, Oil & Gas Business Development Manager