Phl faces power hike as LNG imports climb

With the expected influx of liquefied natural gas (LNG) imports, electricity prices in the Philippines are expected to increase further over the next four years, according to climate research groups.

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In a joint analysis, the Zero Carbon Analytics (ZCA) and the Center for Renewable Energy and Sustainable Technology (CREST) said the Philippines' LNG imports are projected to jump by 508 percent by 2029.

The groups warned that the country's growing reliance on imported LNG could drive up electricity costs, putting additional pressure on already struggling Filipino households.

"The Philippine government's reliance on imported fuel for power generation resulted in high electricity prices, which are a burden to Filipino electricity consumers and (the) local industry," CREST president Rei Panaligan said.