Semirara Mining & Power Corp. chairman Isidro Consunji warned of a possible “challenging” supply scenario” in 2023.
Consunji said Luzon’s supply situation is “most challenging in 2023 more than 2024.”
The Luzon grid has already been placed in yellow and red alerts in the past week due to thin supply.
Consunji said liquefied natural gas (LNG) is not yet fully available in 2023 thus electricity prices will likely go up.
For 2024, he said supply would be available, but electricity prices would still likely be high.
“Next year is the most challenging. I think 2024 is not so challenging because… there is an LNG supply. The issue is price.
Consunji said the high electricity prices would be felt in June and July next year.
Semirara owns the country’s biggest coal mine and owns two coal-fired power plants in Calaca, Batangas.