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Power demand contraction and natural gas cronyism

USPLASH
Based on average power demand in the Luzon-Visayas grids for January and February, the Philippines’ first quarter 2021 GDP seems to point to a -5% contraction with a -6.7% power demand contraction in January and a -4.8% contraction in February.
Data from the Independent Electricity Market Operator of the Philippines (IEMOP) further shows that electricity prices at the Wholesale Electricity Spot Market, the customer effective spot settlement price (ESSP) and load-weighted average price (LWAP) remain low in January and February, reflecting low demand relative to supply
(see Table 1).
The indefinite lockdown policy of the government, turning exactly one year this coming March 15, remains the single biggest source of business uncertainties and economic contraction. ....

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House committee approves downstream natural gas bill

BusinessWorld
March 2, 2021 | 7:57 pm
THE House energy committee has approved a bill that sets the regulatory framework for the shipment and distribution of imported natural gas.
At a hearing Tuesday, the committee approved the draft substitute bill replacing House Bill No. 3031 or the proposed Downstream Natural Gas Industry Development Act.
The panel’s chairman, Pampanga 2
nd District Representative Juan Miguel M. Arroyo said the approval is subject to further work by a technical working group (TWG), which will redraft parts of the bill.
“We will have a separate TWG for this or we will prepare to put this to the floor for the period of amendments,” Mr. Arroyo said, adding this needs to be discussed not only by the committee but also by other House legislators. ....

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