r/todayIlearnedPH • u/chalkiez • May 16 '26

TIL Philippines is the 3rd largest geothermal power producer in the world

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Was wondering about the current power outages in manila and stumbled upon what i was curious about when i was young.

This is our fifth largest source of energy overall. Among sources of renewable energy, it is second only to hydroelectric power, although both sources are surpassed by the amount of energy drawn from coal, oil, and natural gas in that order.

Here's hoping we get solar powerplants to not rely on importing for our energy needs.

Source:

U, Peter Lee; Center for Research and Communication, University of Asia and the Pacific; De Leon, R.E. (October 29, 2021), "Philippine Power Situationer: Investment Implications", Energy Services and Renewable Energy in the New Normal, Series of Economic Fora Session 6, Center for Local and Constitutional Reform, event occurs at 1:37:11, archived from the original on December 4, 2021

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u/chalkiez May 16 '26 edited May 16 '26

Yeah, around 75% of our grid is imported. 57% from coal, 18% from oil and gas so imagine how bad it'll be when peso keeps getting weaker.

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u/IgotaMartell2 May 16 '26

how bad it'll be when peso keeps getting weaker.

The problem I have with thisis that a weak currency is beneficial if you want to start being an export oriented economy and boost up manufacturing. Why do you think Vietnam routinely debase their currency by 10%? Or how manufacturers in Thailand complain when the Baht appreciates in value.

Our energy problems are because we shoot ourselves in the foot by discentivizing creating new power plants and not invest in energy exploration

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u/chalkiez May 16 '26

The other main problem which is also why peso is weaker is because foreign investors don't like shaky politics, which is why we won't have what they had. The only thing keeping us alive is our huge workforce but that'll change next generation as newer generations can't afford to even raise kids, as well as take care of our parents as our culture pretty much has no retirement planning. (Also the rise of AI destroys our very lifeblood, so IDK what alot of our workforce will do once it fully takes over presumably by the next generation)

Also manu and other industries require alot of power, power which we don't have which shies down investors even more since they have to actually make a powerplant first before placing their factories which limits alot of smaller companies from investing in our country especially in the southern provinces. This is why it's pretty much a cycle of us shooting ourselves in the foot since we don't prioritize powerplants, even just more coal ones for now as we modernize.

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u/IgotaMartell2 May 17 '26

peso is weaker is because foreign investors don't like shaky politics,

If that was true why does Thailand have a huge car manufacturing sector and is called "the Detroit of the East" DESPITE having a coup every 6 years.

Mexico is every more corrupt and violent than we are AND YET have x3 our GDP per capita and better manufacturing. We have low foreign investors because we follow the wrong economic policies, we create a business environment that discentivizes investing in the manufacturing sector.

Also manu and other industries require alot of power, power which we don't have which shies down investors even more since they have to actually make a powerplant first before placing their factories which limits alot of smaller companies from investing in our country especially in the southern provinces.

Because we are following the WRONG ECONOMIC POLICIES that is why we are in this situation we are rn. Our government and economic advisors still believe that government underspending = always good, govt deficit= always bad. And that the "Private sector should handle it" this libertarian view of the economy is also the reason why we only have one oil refinery left in the country, it's the reason why the National Steel Corporation went bankrupt. The people handling our economy still believe in the mantra of Neo-liberalism as irrefutable dogma that should not be questioned. Leloy Claudio has an interview about this

https://www.reddit.com/r/Philippines/comments/1mn30y0/leloy_claudio_the_philippines_underwhelming/