Commodity Market Report
Philippines power market and long-term outlook 2020
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Report summary
Key report themes: 1) Coal continues to dominate generation by 2030, just about maintaining its share of the generation mix at 53% as gas’ share declines from 64% in 2019 to 42%. 2) The share of solar and wind will increase from 3% in 2019 to 11% by 2030, in line with the sustainability scenarios in the draft Philippine Energy Plan (PEP) 2020 target of 7-17%. The renewables targets could be raised as the PEP is being revised. 3) The Philippines’ total installed capacity was 25 GW in 2019, with coal and gas contributing most of the generation at 54% and 21%, respectively.
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