Energy
From The Report: Philippines 2021
View in Online Reader

The Covid-19 pandemic hit the Philippines’ consumption-driven economy hard, with forecasts from the IMF suggesting that real GDP could contract by as much as 9% in 2020. Strict lockdowns took a heavy toll on the energy sector in the form of a steep drop in demand for both electricity and fuel, yet local power providers took steps to ease the financial impact on customers by lowering rates and extending payment windows. In a positive sign for the sector’s longer-term development, interest was sustained in oil and gas exploration activities and midstream infrastructure investment during the pandemic. Beyond the health crisis, the renewable energy and natural gas segments present standout opportunities for the coming years as the Philippines looks to meet rising energy demand and alleviate pressure on the national grid.

Articles from this Chapter

Overview

Powerful shift: A year of disruption allows the government to re-evaluate priorities and chart a new path for the future of the sector
OBG
plus

The Covid-19 pandemic hit the Philippines’ consumption-driven economy hard, with forecasts from the IMF suggesting that real GDP could contract by as much as 9% in 2020. Strict lockdowns took a heavy toll on the energy sector in the form of a steep drop in demand for both electricity and fuel, yet local power providers took steps to ease the financial impact on customers by lowering rates and extending payment windows. However, in a positive sign for the sector’s longer-term development,…

Analysis

Composition mash-up: After demand for power dropped in spring 2020 due to Covid-19 lockdowns, how will the energy mix look in the recovery phase?
OBG
plus

Travel restrictions and the suspension of industrial activities around the world due to the Covid-19 pandemic have led to an unprecedented drop in global emissions. According to data from the Helsinki-based Integrated Carbon Observation System (ICOS), by the first week of April 2020 daily carbon emissions had fallen by 17% against mean 2019 levels, with some countries experiencing a 26% fall in CO output. The fall was the sharpest on record, with global emissions dipping to levels last seen…