The National Economic and Development Authority (NEDA) believes that power plants that are due within this year up until 2024 could soften the blow of the Israel-Hamas war on the local energy market.
In a report by CNN Philippines, NEDA Undersecretary Rosemarie Edillon said that the inflation rate of the Philippines would be contained amid the ongoing conflict in the Middle East.
Should tensions rise, fuel and energy prices would be the first to be affected, prompting national energy intervention.
Edillon went on to say that in order to minimize the impact of an increase in energy prices, the strict deadline for power plant and transmission project completion should be maintained.
