Meralco PowerGen Corporation (MGEN) President and CEO Emmanuel V. Rubio stressed the importance of a balanced and realistic approach to the country’s energy transition. He emphasized that it must be done “responsibly” to ensure energy security, affordability, and sustainability.

Speaking at the Building a Sustainable Future Through Just Energy Transition event at Makati Shangri-la last August 18, which was held by SGV Knowledge Institute (SGV KI) and powered by SGV Sustainability,  Rubio said the Philippines cannot afford a sudden shift. He attributed this to rising electricity demand, heavy reliance on imported fuels, and the need for large-scale infrastructure improvements.

“It is not only about adding new technologies. It is about making sure that the energy transition is done responsibly—that we meet the country’s energy needs today, manage the transition in the coming years, and build the foundation of the future,” Rubio said.

According to him, electricity demand in the country is expected to double by 2040, driven by economic growth and urbanization. At present, 34 percent of electricity comes from coal, with oil and natural gas also accounting for a large share, most of which is imported. While the Philippines is one of the top geothermal producers globally, renewable energy still falls short of government targets of 35 percent by 2030 and 50 percent by 2040.

Rubio noted that meeting these goals will require “more than building projects,” pointing to the need for grid modernization, streamlined permitting, improved access to financing, and large-scale storage solutions.

MGEN’s transition plan follows what Rubio described as a clear sequence. Through MGEN Thermal, the company will continue operating high-efficiency, low-emissions baseload plants to ensure reliable and affordable supply. Through MGEN Natural Gas, it will expand liquefied natural gas (LNG) facilities as a transition fuel, thus lowering emissions compared to coal while supporting renewables. Finally, through MGEN Renewables, the company will accelerate investments in large-scale solar and battery energy storage.

One of its flagship projects, MTerra Solar in Bulacan and Nueva Ecija, is set to become the world’s largest integrated solar and battery storage project when completed by 2026. The facility will deliver 3,500 megawatts of solar capacity and 4,500 megawatt-hours of storage. This is enough to power 2.4 million households while cutting up to 4.3 million tons of carbon emissions annually.

On the LNG front, Rubio cited the role of the LNGPH terminal, which currently supplies about 18 percent of Luzon’s electricity demand, in providing flexibility to the grid and supporting the growth of renewables.

Rubio said MGEN anchors its work on four pillars of sustainability- People, Power, Planet, and Prosperity. This includes employee training and innovation programs, a diversified portfolio that ensures stability, environmental safeguards such as water conservation, and community investments ranging from education to livelihood initiatives.

“In June alone, over 47,000 beneficiaries were supported through Brigada Eskwela of MGEN. Beyond this, we also invest in school-stating programs, partnerships with local organizations, and today we have more than 11,000 people working in Bulacan and Mariveles,” he said.

Rubio closed his remarks by acknowledging the difficulty of the process but reiterated the company’s commitment. “At MGEN, we know the energy transition is not easy, but it is necessary. And we take on the responsibility to do it right.”

As the Philippines faces rising demand and climate challenges, how can stakeholders ensure the energy transition remains both just and realistic?

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