The local energy sector is set to become a P7.6 trillion industry by 2040 from its current value of P630 billion, according to the Energy Regulatory Commission (ERC).
Still, that investment is a “bit conservative” as the Department of Energy (DOE) is updating its figures, Monalisa Dimalanta, ERC chairperson, said at an energy forum last week.
“If all the plans of the DOE materialize under the clean energy scenario, we are looking at a P7.6 trillion industry by 2040… This is a bit conservative but the DOE is still updating these numbers. We are looking at not just offshore wind but all technologies playing for us to realize this P7.6 trillion investment,” Dimalanta said.
As of September 2023, the local energy sector is composed of 231 generation companies and 600 power plants with a total capacity of 28,496.82 megawatts (MW), the ERC said.
For the period, the Philippines has 21,027 circuit kilometers of transmission lines and 48,081 megavolt amperes substation capacity, alongside 449 wholesale electricity spot market participants, the regulatory body added.
ERC also said the country so far has 131 distribution utilities and electric cooperatives with a total value of P160.4 billion as well as 123 retail electricity suppliers which can offer as much as 4,118.4 MW of available capacity.
“We have around 300 personnel in the commission that are regular or plantilla, augmented by around 200 contractual personnel, but all 500 plus five of us commissioners looking after this P630 billion industry,” Dimalanta said.
ERC serves as the regulatory body mandated to promulgate and approve rules, guidelines and policies that affect the cost of electricity in the country.
It also enforces regulations including the issuance of permits and licenses, apart from resolving cases and disputes for such issues. – Jed Macapagal
