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- GENERAL OVERVIEW
- INSTITUTIONS AND ENERGY POLICY
- ENERGY COMPANIES
- ENERGY SUPPLY
- ENERGY PRICES
- ENERGY CONSUMPTION
- ISSUES AND PROSPECTS
- DATA TABLES
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This analysis includes a comprehensive Philippines energy market report and updated datasets. It is derived from the most recent key economic indicators, supply and demand factors, oil and gas pricing trends and major energy issues and developments surrounding the energy industry. The report provides a complete picture of the country situation, dynamics, current issues and future prospects. With market data and continuous follow-up of markets news, this report brings clear and concise insights with which to tackle national energy challenges and opportunities. Browse the tabs below for a detailed table of contents, the list of graphs and tables, and details on the data files.
- The country targets for 2030 a share of 35% of renewables in the power mix and a 75% reduction of its GHG emissions.
- The Government is considering developing a nuclear program.
- More than 90% of the electricity generation comes from IPPs. EDC is the world's largest geothermal company.
- Nearly 40% of the oil retail market is dominated by Petron and Shell.
- The country holds around 13 GW of exploitable hydro resources and 2.5 GW of geothermal potential.
- The share of coal in the power mix has increased by 24 points since 2010, reaching 58% in 2021.
- Prices of gasoline and diesel keep surging in 2022.
- Electricity prices are among the highest in Asean and on the rise since 2020.
- Households and services represent nearly half of the final energy consumption.
- Very rapid growth in energy demand is expected by 2040 (around 6%/year).
- LNG import contracts and infrastructure are expanding in anticipation of future gas demand growth and a coal power moratorium.
- Very large-scale solar PV projects are ramping up to reach the 35% RE target by 2035.
Institutions & Energy Policy
The Department of Energy (DOE) is in charge of the energy sector. The DOE has six bureaus: Energy Policy and Planning Bureau (EPPB), Energy Resources Development Bureau (ERDB), Electric Power Industry Management Bureau (EPIMB), Oil Industry Management Bureau (OIMB), Renewable Energy Management Bureau (REMB), and Energy Utilization and Management Bureau (EUMB).
A joint venture bringing together MEXP (Malampaya Energy XP)) (45%), UC Undenna (45%), and PNOC (10%) is operating the gas field of Malampaya, which was commissioned in 2001 (proven reserves of around 75 bcm; total cost of €4.6bn). A 20-year contract covers the gas supply to 3 power plants, with a total capacity of 2.7 GW, on the Batangas site.
The Philippines has moderate conventional energy resources. Crude oil reserves are estimated at 29.2 Mt, natural gas reserves at 50 bcm. Oil and gas reserves are mostly found in Northwest Palawan and Cagayan basins. Proved coal reserves reached 303 Mt at the end of 2021.
Within the framework of the law on the downstream oil sector, the prices of oil products are now free, with the exception of products considered to be "socially" sensitive, like kerosene.
Per capita energy consumption is 0.54 toe, including 798 kWh of electricity (2021). These levels are two times lower than the ASEAN average (2020 levels).
Total energy consumption increased by 4% in 2021 to 60.4 Mtoe, after decreasing by 5% in 2020. Previously, it had increased by 4.5%/year since 2009, reaching a 61 Mtoe peak in 2019.
Issues & Prospects
According to the Energy demand and supply outlook included in the PEP 2020-2040, final energy consumption will increase 3-fold by 2040 from 2020 (5.8%/year), driven by the transport and industry sectors.
- GRAPH 1: CO2-energy Emissions (MtCO2)
- GRAPH 2: Installed electric capacity by source (2021, %)
- GRAPH 3: Gross power production by source (TWh)
- GRAPH 4: Power generation by source (2021, %)
- GRAPH 5: Gasoline & diesel prices (US$/l)
- GRAPH 6: Electricity prices for industry and households (US$c/kWh)
- GRAPH 7: Consumption trends by energy source (Mtoe)
- GRAPH 8: Total consumption market share by energy (2021, %)
- GRAPH 9: Final consumption market share by sector (2021, %)
- Economic Indicators: Annual historical data including population, GDP growth, imports and exports, inflation rate, energy security and efficiency indicators, CO2 emissions.
- Supply Indicators: Historical data including oil and gas reserves, electric and refining capacity, energy production, power production and external trade. All are detailed by energy source.
- Demand Indicators: Historical data including consumption per inhabitant, consumption trends, total consumption by energy source, final consumption by energy source and sector, and electricity consumption by sector.
- Energy Balances: Single table displaying the overall energy industry balance per annum, also graphically displayed by energy sub-segment.
- Infrastructure Projects: Covers power plant projects by energy, technology, status and operator.
The Philippines energy market data since 1990 and up to
is included in the Excel file accompanying the Philippines country report.
It showcases the historical evolution, allowing users to easily work with the data.
Key Data included in the excelsheet:
- Economic indicators: Annual historical economic indicators, energy security, energy efficiency and CO2 emissions.
- Supply indicators: Annual historical reserves, capacity, production and external trade (imports(+) exports(-) balance).
- Demand indicators: Annual historical consumption per capita, consumption trends, total consumption, final consumption (per energy and per sector) and electricity consumption total and per sector.
- Energy Balance: total and per energy.
- Philippines Energy Prices: In addition to the analysis provided on the report we also provided a data set which includes historical details on the Philippines energy prices for the follow items: price of premium gasoline (taxes incl.), price of diesel (taxes incl.), price of electricity in industry (taxes incl.), price of electricity for households (taxes incl.), price of natural gas in industry (taxes incl.), prices of natural gas for households (taxes incl.), spot price of Brent and CO2 emissions (from fuel combustion).