Asia-Pacific
With a power score of 2.65, the Philippines ranks number 2 among Emerging Markets and number 2 in the Asia-Pacific region
Power score
2.65/5
Score over time
2021 - 2024
The Philippines has a power score of 2.65, which puts it at rank 2 in the Emerging Markets power ranking. In comparison to 2023, the Philippines has improved in the power rankings by 2 places, from rank 4, to rank 2.
At 2.65, the power score of the Philippines is better than than the regional average of 1.94 in the Asia-Pacific region and puts it at rank 2 in the region.
The Philippines implements policies in 9/9 power policy categories tracked by Climatescope, including Renewable energy target, Renewable energy auction, Feed-in tariff, Net metering, Import tax incentives, VAT incentives, Priority grid access, Renewables mandate, and Renewable Energy Certificates.
The average electricity price in the Philippines has increased from 163.86 USD/MWh in 2022 to 187.60 USD/MWh in 2023. Since 2017, the average electricity price in the Philippines has fluctuated between 122.29 USD/MWh (2017) and 187.60 USD/MWh (2023).
The top amount of capacity installed in the Philippines in 2023 was in Coal at 43.42%, down from 43.69% in 2022. The technology with the biggest increase in capacity installed in 2023 was Utility-scale PV at 6.09%, up from 5.41% in 2022.
The top amount of electricity generated in the Philippines in 2023 was in Coal at 61.9%, up from 58.5% in 2022.
Investment in clean energy in the Philippines was around $1,981.08 million in 2023, an increase of 87.14% from 2022 ($1,058.63 million). Between 2018 and 2023, the highest investment in clean energy was in 2023 at $1,981.08 million, while the lowest was in 2018 with $130.24 million.
Which segments of the power sector are open to private participation?
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Are other PPAs (eg. corporate PPAs) signed in or indexed to U.S. Dollars or Euro?
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Can a C&I (Commercial and Industrial) customer sign a long-term contract (PPA) for clean energy?
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Does the government keep the wholesale price of electricity from fossil fuels artificially low through subsidies?
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Does the government significantly increase the wholesale price of electricity from fossil fuel through targeted taxes and/or carbon prices?
For more information on best practices and climate action, explore the NetZero Pathfinders project by BloombergNEF.