Electricity generation in the Philippines is forecasted to grow consistently over the next five years. In 2023, the actual generation stood at 118 Terawatthours. Moving from 2024 to 2028, the values are projected to be 121.8, 125.66, 129.51, 133.33, and 137.14 Terawatthours respectively. This indicates steady year-on-year growth with percentage increases of approximately 3.3% in 2025, 3.1% in 2026, 2.9% in 2027, and 2.9% in 2028. The Compound Annual Growth Rate (CAGR) from 2024 to 2028 is estimated at around 3.2%.
Future trends to watch for include potential advancements in renewable energy technologies, government initiatives to diversify the energy mix, and external economic factors that may influence energy consumption and generation capabilities. The emphasis will likely be on sustainability and efficiency improvements.