Philippines accelerates energy transition as demand rises

IHS Markit:

With new rules for green power auctions announced on 3 August, the Philippines continues to retool its energy industry in order to meet growing demand while also reducing its carbon footprint.

The revised green auction rules came a few months after the nation in April updated its nationally determined contribution (NDC) under the Paris Agreement, and that announcement came a few months after a moratorium on new coal-fired power plants. Meanwhile, the country is seeking to complete its first LNG import terminals and regasification facilities and to resurrect a renewable power sector that has been stagnant in recent years.

At the same time, however, the Philippines experienced a rough economic buffeting due to the COVID-19 pandemic, which has diverted investment to recovery in areas beyond the energy transition. And its electric power system showed the strain of years of underinvestment, including a series of power outages in the Luzon region (its most populous) in May and June.

[Kevin Adler] 

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