09/01/2023
The Philippines is facing a mounting energy crisis as the Malampaya natural gas fields, currently supplying 30% of Luzon’s energy consumption, are expected to be depleted by 2024. An ever-increasing population, a new government administration, and some of the highest electricity costs in Southeast Asia all present formidable energy production challenges. Due to the impact of COVID-19, the energy sector faced many challenges that necessitated adjustments to ensure continuity of energy services to consumers. The Philippine Government envisions the Philippines being energy self-sufficient in 2030, utilizing a combination of fossil fuels and renewable energy as solutions. About 43 GW of additional power capacity will be required by 2040, and the country is clearly behind schedule in developing solutions.
