The Philippines’ Department of Energy (DOE) has unveiled policy framework for the country’s first commercial nuclear power station. According to the document, the 1.2 GW Pioneer nuclear power plant will be designated as a baseload facility, and it will also be granted priority access to the grid as an Energy Project of National Significance. The project should enjoy from incentives and expedited permitting.
Furthermore, the department announced its plans to introduce flexible contracting models (auctions, direct supply agreements, etc.) to support long-term financial viability, while the Energy Regulatory Commission is expected to develop a Regulatory Asset Base (RAB)-style system built around minimum 25-year contract terms extendable for a further 25 years. The government is expected to identify suitable participation models and financing arrangements within 90 days.
The Philippines aims to have its first nuclear power plants operational by 2032, with an initial capacity of 1.2 GW which is expected to further expand to 4.8 GW by 2050.
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