The Department of Energy (DOE) of the Philippines will expedite the implementation of three key renewable energy policies, in order to reduce the country's dependence on coal. Under the Renewable Portfolio Standards policy, power distribution utilities will be required to purchase a minimum share of renewable energy; the minimum requirement will be readjusted annually, without any timeline so far. The second policy is the Green Energy Option, which will enable power consumers to demand a level of renewables in their power supply. The DOE also initiated a proposal to establish a Green Energy Rate for 2 GW of new renewable energy generation capacity: new renewable projects will secure long-term power purchase agreements (PPA) under a base-line price.
The Philippines aims to reduce its dependence on coal but still consider LNG and coal as bridging fuels as the country is transitioning towards more renewable energies. The electricity capacity stood at 23.6 GW at the end of 2018, with coal accounting for 8.7 GW, oil for 4.2 GW, hydro for 3.7 GW, gas for 3.4 GW, geothermal for 1.9 GW, solar for 0.9 GW and wind for 0.4 GW. The Philippines seeks to double its generation capacity by 2030.
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