August 31, 2016
from Business Mirror
The country would likely need over 6,000 megawatts (MW) of additional power- generating capacity by 2030 in order to serve the growing demand for electricity.
Based on data shown during a Senate hearing on Wednesday, the Department of Energy (DOE) said the forecasted demand and reserve requirement of the country by 2030 will reach at least 30,189 MW.
Of which, the agency identified 17,925 MW of existing dependable capacity; 6,178 MW of committed projects; and 6,086 MW of required capacity addition.
Of the 6,178 MW of committed projects, the DOE said 4,525 MW wtill be sourced from base-load plants, 1,100 MW is mid-merit and 553 MW from peaking plants.
Peaking plants run only when there is a high demand for electricity.
The country’s power-generation mix as of end of 2015 is composed of 45-percent coal, 25-percent renewable, 23-percent natural gas and 7-percent oil. On the other hand, last year’s installed capacity mix is made up of 66-percent fossil fuels, 15 percent of which is in natural gas.
With intensified electrification programs, increasing population and strong GDP growth, demand for electricity is expected to grow by an average of 5 percent per year until 2030, or around 126 terra-watt hour (TWh) from the 2015 level of 82 TWh.