To achieve 100% nationwide electrification by 2028, the government would need to invest about 855 billion USD (P72 billion). This is nearly three times the amount that the government has budgeted for the project, the Department of Energy (DOE) says.
According to Energy Undersecretary Rowena Cristina Guevara, DOE is in discussions with the Department of Finance and the National Economic and Development Authority to obtain P50 billion in funding from Asian Development Bank and World Bank.
DOE data showed that the household electrification level reached 93.12% in March. This means that more than 2 million households in the country still currently live without electricity.
While P72 billion is the estimated investment needed to energize remaining households through 2028, the government’s budget allocation for this project ranges from P3 billion to P5 billion annually or only up to P25 billion until 2028.
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