The Philippines’ cooling inflation, improved ease of doing business and increased openness to foreign participation are set to encourage more foreign direct investment. A wealth of infrastructure investment under President Rodrigo Duterte’s flagship Build Build Build programme should ease congestion, reduce regional inequality and further boost the flourishing tourism industry.
The private sector is accelerating efforts to meet rising energy demand in the Philippines, with liquefied natural gas (LNG) import and processing capacity being fast-tracked as domestic supplies dwindle.
The Philippines’ electricity market has undergone major reform, with the Wholesale Electricity Spot Market (WESM) passing from state control to a newly formed independent body.
The prevailing narrative of the Philippines’ energy sector in recent years has centred around energy security concerns and the challenge of meeting growing demand. Efforts to realign the energy sector were ramped up during 2017 with the launch of a couple of reforms targeting investment and the promotion of efficiency.
What do you consider necessary to spur the growth of renewables in the country’s energy mix?
One of the most important pillars of the reform agenda led by the Department of Energy (DoE) is ensuring energy security. With rising demand and the inevitable depletion of the Malampaya field, policymakers are looking towards alternative sources.
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