DUBLIN--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/6b507b/philippines_power) has announced the addition of the "Philippines Power Report Q4 2011" report to their offering.
The government of the Philippines continues to reshape its power industry and energy portfolio. State-owned assets are being sold off in order to bring in new investors which will ease the burden on the country to increase its thermal, hydro and geothermal/wind capacity. There is a risk of supply growing too slowly to keep up with demand unless greater commitments are made towards large-scale hydro, renewables and, possibly, nuclear expansion.
During the period 2011-2015, the Philippines' overall power generation is expected to increase by an average of 5.6% year-on-year (y-o-y), reaching 88.8TWh by 2015. Driving this growth are forecast average annual gains of 7.6% and 3.6% in gas-fired and hydro generation respectively, as well as an expected 3.5% average increase in renewables-based electricity supply. The government is looking to convert oil-fired plants to gas while expanding the country's geothermal capacity.
An initial assessment by the Philippines Department of Energy (DoE) has placed the country's total wind potential at 76GW (across a 10,000sq km area). Other DoE estimates of renewable energy potential in the country are: 4.41GW from geothermal energy; 147MW from hydro applications in Visayas; 1.78GW from mini-hydros from 888 sites; and an annual potential average of 5.0-5.1kWh/m2/day from solar power.
Following forecast real GDP growth of about 5% in 2011, BMI forecasts average annual growth of 4.5% between 2011 and 2020. The population is expected to increase from the 2011 level of 95.5mn to 102.7mn in 2015, and net power consumption looks set to increase from 63.1TWh to 77.17TWh. Over the period 2011-2015, the average annual growth rate for electricity demand is forecast at 5.41%, but BMI expects it to slow somewhat later in the decade to an average 5.06% over 2016-2020.
Companies Mentioned:
- Napocor
- The National Transmission Corporation (TransCo)
- First Gen
- Aboitiz Power
- Ayala Corporation
- Mirant
- Meralco
- EDC
- AES
For more information visit http://www.researchandmarkets.com/research/6b507b/philippines_power