The PDP, 2020-2040 serves as a comprehensive guide for industry stakeholders about the future landscape of the Philippines’ electric power industry. It is composed of three chapters summarized as follows:
Chapter 1. Power Sector Highlights, 2019-2020 assesses the Philippines’ power situation in terms of key power-related statistics and identifies the major policies and programs promulgated during the transition years 2019-2020. In this introductory chapter, the impacts of COVID-19 pandemic and natural calamities in the power sector were broadly discussed, along with the mitigating measures and actions undertaken within the industry.
Chapter 2. Power Demand and Supply Outlook, 2020-2040 provides the annual peak demand forecast and power supply expansion plan on a per technology basis up to 2040 under multiple scenarios. In line with the DOE’s commitment towards a cleaner energy transition, the national renewable energy (RE) power generation mix target of 35% by 2030 and the aspirational target of 50% by 2040 were adopted. The country’s peak demand is expected to increase by almost four folds from 2020 to 2040 which is equivalent to about 7% growth annually. To meet this demand and the aspirational 50% RE target, the Philippines’ installed capacity should increase by about five times from 22,317 MW in 2019 to 114,601 MW in 2040, coming from existing, committed, and new build capacities. The transmission projects which are expected to support and accommodate new power plant capacities are likewise identified in this section for the reference of prospective investors and key stakeholders.
Chapter 3. Power Sector Roadmap, 2021-2040 rolls-out the updated power sector roadmaps for generation, transmission, distribution, supply, electricity market, off-grid development, and total electrification. Overarching policies and programs, such as smart grid and power sector database enhancement, were also highlighted. These roadmaps are anchored on three main goals by 2040 namely:
• Energy security, resiliency, affordability, and sustainability;
• Transparent and fair playing field in the power industry; and
• Electricity access for all.
The successful implementation of the plans, policies, and programs embedded in this PDP update entails the strong collaboration and synergy between the government, power industry players, and all energy stakeholders.