Coal generation growth in the country is set to slow down in the coming years in the wake of the government’s moratorium on the building of new coal power plants.
“We have revised our coal generation forecasts from post-2026 and now expect it to grow at a much slower rate than we previously expected,” Fitch’s report said.
Citing the firm’s government sources, the moratorium will cause around eight gigawatts of coal projects awaiting approval to be suspended, though the projects themselves were not mentioned.
“Our forecasts are subjected to significant downside risks as coal projects continue to face very strong and increasing public opposition,” the report also stated.
It cited the active involvement of church and civil society groups in the quest to end the use of coal power in the country, Energy Sec. Alfonso Cusi being a “very strong proponent” of nuclear power, and the efforts of key power players — particularly the Manila Electric Company (MERALCO) and AC Energy — to shift away from coal.
