Favoring Gas, Philippines Shuts Door on Coal Power Proposals
MANILA (Reuters) - The Philippines has stopped accepting new proposals for coal-based power projects to encourage investment in other energy sources like natural gas and renewables, the government's energy chief said on Wednesday.
The moratorium on endorsements for greenfield coal-powered plants comes as the government aggressively pursues natural gas as a major source of energy, not just for power generation but also industrial, commercial and household sectors.
Coal is set to remain the dominant power source for years to come, however, with the coal-based projects already in the works and proposals already submitted to the government not covered by the moratorium, Energy Secretary Alfonso Cusi said.
A rash of approvals for coal-fired power plants in recent years has boosted coal's dominance in the country's power mix, accounting for 41% of capacity last year, when the country's overall installed power capacity stood at 25,531 megawatts, Department of Energy data showed.
Renewable energy made up 29% of the mix, while natural gas took 13.5%. The rest was for oil-based fuel.
"We see that we have enough supply for baseload power and we're looking at a more flexible source like gas, geothermal, hydro and others," Cusi told a briefing.
Related News
Related News
- Trump Aims to Revive 1,200-Mile Keystone XL Pipeline Despite Major Challenges
- Valero Considers All Options, Including Sale, for California Refineries Amid Regulatory Pressure
- ConocoPhillips Eyes Sale of $1 Billion Permian Assets Amid Marathon Acquisition
- ONEOK Agrees to Sell Interstate Gas Pipelines to DT Midstream for $1.2 Billion
- Energy Transfer Reaches FID on $2.7 Billion, 2.2 Bcf/d Permian Pipeline
- U.S. LNG Export Growth Faces Uncertainty as Trump’s Tariff Proposal Looms, Analysts Say
- Tullow Oil on Track to Deliver $600 Million Free Cash Flow Over Next 2 Years
- Energy Transfer Reaches FID on $2.7 Billion, 2.2 Bcf/d Permian Pipeline
- GOP Lawmakers Slam New York for Blocking $500 Million Pipeline Project
- Texas Oil Company Challenges $250 Million Insurance Collateral Demand for Pipeline, Offshore Operations
Comments