TransitionZero, a non-profit organization specializing in climate data, advocates for the early decommissioning of coal-fired plants, emphasizing that such action could alleviate an estimated 290 metric tons of carbon dioxide emissions.
In a report by Philippine Star, TransitionZero suggested that advancing the retirement of coal plants by five years could prevent the release of nearly double the carbon dioxide emissions of the Philippines, which amounted to 155.38 metric tons in 2022.
Similar views were expressed by the International Energy Agency (IEA), which stated that to limit global warming to 1.5 degrees Celsius, emerging economies like the Philippines should cut down their coal use by 2040.
The climate data organization also pinpointed potential candidates for early retirement among coal plants, including the Quezon Power Plant, the Cebu Energy Development Corporation coal plant, and the SEM-Calaca Power Corporation coal plant.
But if the Philippines remains firm in extending its coal plant, the country will see coal plants retire between 2047 and 2051.
However, the costs involved in facilitating buyouts for early retirement range from Php 1.07 million to Php 156.3 million per megawatt (MW).
Currently, coal constitutes 60% of the nation’s power mix, with renewables making up 22%. In line with this, the government aims to raise the contribution of renewable energy in the power mix to 35% by 2030 and further increase it to 50% by 2040.
