Duterte Coal Tax Will Make Costly Philippines Power Even Pricier
- Coal-run plants accounted for 48% of power supply in 2016
- Semirara sees 3-centavo increase in power rates in first year
This article is for subscribers only.
Electricity prices in the Philippines, already among the highest in Southeast Asia, will probably rise after President Rodrigo Duterte signs legislation next week boosting taxes on coal, the nation’s main fuel for power plants.
Semirara Mining and Power Corp., a power generator that’s also the country’s largest coal producer, expects electricity rates to jump 3 centavos per kilowatt-hour next year, when the tax plan’s provision for a 50 peso ($1) per metric ton excise tax takes effect, Chief Executive Officer Isidro Consunji said by phone.