The Spanish energy group Iberdrola has reached an agreement with the Philippine wind developer Triconti ECC Renewables and Switzerland's Stream Invest Holding to develop five offshore wind projects in the Philippines with a total capacity of 3.5 GW.

In March 2021, the Philippine Department of Energy also issued a notice-to-proceed for Shell’s 3 Mt/year LNG import project in Tabangao, Batangas.

Filipino households pay on average $0.189 (PHP9.5) per kilowatt-hour—the highest rate in Southeast Asia by far.

“Officials in the Philippines have endorsed a rapid buildout of LNG import infrastructure due to the anticipated depletion of the Malampaya deepwater development, the country’s only domestic source of natural gas, and high GDP growth expected over the next decade,”

The project (likely a floating storage and regasification unit, FSRU) should be commissioned by mid-2022.

The Philippines spent $2.3 billion to build what was Southeast Asia's only nuclear power facility, but never used it

Indonesia and the Philippines to be moving to revive dormant nuclear energy plans

Philippines growth is projected at 5.7 percent in 2019, unchanged from the October 2019 World Economic Outlook, and to strengthen to 6.3 percent in 2020, underpinned by an increase in government spending and the recent monetary policy easing. The medium-term economic outlook remains favorable, especially if the strong structural reform momentum continues.

Rusatom Overseas JSC and The Department of Energy of the Republic of Philippines and signed Memorandum of Intent on cooperation in the sphere of small modular reactors.

In a market outlook report focused on the Philippines, analytics firm GlobalData said installed capacity was cued for an 11.2-percent compound annual growth rate (CAGR) from 2019 to 2030.