New Market Report: Philippines Power Report Q3 2014

We expect to see robust growth in the power sector in the Philippines, with total generation expected to expand by between 3% and 6% a year throughout our forecast period through to 2023. With recovery from the 2013 typhoon gathering pace, good domestic economic growth and a range of new projects being announced, overall the future is looking very positive for the Philippines power market.

The Philippines was struck by Typhoon Haiyan in November 2013, which caused widespread devastation, affecting 10% of the population and casing at least 10,000 deaths. A substantial portion of the country's infrastructure was affected, including power transmission and distribution networks. Geothermal and other power plants were also affected, and as such the last months of 2013 and the first months of early 2014 were largely consumed with recovery efforts. The islands of Samar and Leyte were particularly affected, and a great deal of recovery work remains to be done.

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As such some of the new projects that were expected to commence in early 2014 were delayed. Despite these setbacks, we still expect to see growth in the longer term, with a range of new projects including coal fired plants and various renewable energy projects lending weight to higher growth forecasts. We expect that total electricity generation will growth by 3.48% in 2014, reaching 74.85TWh. Further growth throughout the forecast period means total generation is expected to reach 111.07TWh.

Thermal energy will continue to dominate the energy market in the Philippines, accounting for over 70% of total electricity generation in 2014. Healthy growth is expected across coal, natural gas and hydropower however we expect to see small declines in oil generation. The future is also looking bright for the non-hydropower renewables, expected to account for 14.25% of the total electricity mix by the end of the forecast period.

The growth in electricity generation means that we expect the Philippines will be able...

The Philippines Power Report features Business Monitor International (BMI)'s market assessment and independent forecasts covering electricity generation (coal, gas, oil, nuclear, hydro and non-hydro renewables), electricity consumption, trade, transmission and distribution losses and electricity generating capacity.

The Philippines Power Report also analyses the impact of regulatory changes, recent developments and the background macroeconomic outlook and features competitive landscapes comparing national and multinational operators by sales, market share, investments, projects, partners and expansion strategies.

Key Benefits

* Use BMI's independent industry forecasts for Philippines to test other views - a key input for successful budgeting and strategic planning in the power market.

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