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Philippines energy report

Philippines energy report
Update
Format
3 files (PDF report, 2 Excel files)
Pages
36 (Report only)
Delivery
Immediate by e-mail
Table of Contents
  • GENERAL OVERVIEW
  • INSTITUTIONS AND ENERGY POLICY
  • ENERGY COMPANIES
  • ENERGY SUPPLY
  • ENERGY PRICES
  • ENERGY CONSUMPTION
  • ISSUES AND PROSPECTS
  • DATA TABLES
  • ABBREVIATIONS
  • GLOSSARY

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Overview

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.

Highlights

  • The country targets a share of 35% of renewables in the power mix and a 75% reduction of its GHG emissions in 2030.
  • The third renewable auction is planned in August 2024 and will offer 4.2 GW of hydro and geothermal.
  • More than 90% of the electricity generation comes from IPPs. EDC is the world's largest geothermal company.
  • A JV between MEXP, UC Undenna, and PNOC exploits the Malampaya gas field.
  • 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 increased by 26 points since 2010 to 60% in 2022.
  • Coal imports have tripled since 2010.
  • Fuel and electricity prices decreased in 2023 after 3 years of continued increase.
  • Electricity prices are amongst the highest in Asean.
  • Coal and oil represent 62% of total energy consumption.
  • Households absorb 39% of electricity consumption.
  • A very rapid growth in energy demand is expected by 2040 (around 6%/year).
  • The country aims to increase LNG imports to anticipate a decrease in gas production and a coal phase-out.
3rd
largest geothermal electricity producer
35%
Share of renewables targeted in the power mix in 2030
62%
share of coal and oil in total energy consumption (2022)
  • 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).

  • Energy Companies

    Gas:

    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.

  • Energy Supply

    Gas:

    The production of gas started in 2002 with the commissioning of the field of Malampaya; it was stable between 2011 and 2020 at around 4 bcm but has dropped by 20% since then, reaching 3.2 bcm in 2022. The gas field is estimated to run dry by 2027. It supplies five power plants in Luzon: Ilijan, Sta. Rita, San Lorenzo, Avion, and San Gabriel.

  • Energy Prices

    Electricity:

    In 2023, the average price of electricity for households dropped by 16% to US$18.9c/kWh. Previously, it had been increasing since 2020 (+17%/year). The price was over three times higher than in Malaysia and nearly the double that in Thailand in 2022.

    Graph: ELECTRICITY PRICES FOR HOUSEHOLDS (US$c/kWh)

  • Energy Consumption

    Per capita energy consumption is 0.56 toe, including 790 kWh of electricity (2022). These levels are two times lower than the ASEAN average (2022 levels).

    Total energy consumption has been increasing by 4%/year since 2020, reaching 64.5 Mtoe in 2022, after a 5.5% drop in 2020. Previously, it had been increasing 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 (2022, %)
  • GRAPH 3: Gross power production by source (TWh)
  • GRAPH 4: Power generation by source (2022, %)
  • GRAPH 5: Gasoline & diesel prices (US$/l)
  • GRAPH 6: Electricity prices for households (US$c/kWh)
  • GRAPH 7: Consumption trends by energy source (Mtoe)
  • GRAPH 8: Total consumption market share by energy (2022, %)
  • GRAPH 9: Final consumption market share by sector (2022, %)
  • 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).