DoE Assesses Impact of Japan Crisis on Energy Supply, Demand
MANILA, Philippines -- The triple whammy hitting Japan is viewed by experts to be bringing in landscape changes in the energy supply-demand balance, and this is similarly prompting the Philippine officials to re-assess impact in the domestic energy sector.
Energy Undersecretary Josefina Patricia M. Asirit divulged that the Department of Energy (DoE) "will definitely consider data" based on the calculated effect of the Japan tragedy, especially on prospective adjustments in energy demand.
She noted that data gathering are now being coordinated with different agencies, such as the National Economic Development Authority (NEDA) as well as the administrator of the economic zones, among others.
For the electricity sector in particular, it can be culled that around 40-percent of the power-intensive industries in the manufacturing sector are Japanese companies. To date, it is still being evaluated if their energy demand would be downscaled due to factors triggered by the devastating setbacks in Japan.
In the case of the Manila Electric Company (Meralco), company officials indicated that they are closely monitoring the developments, but weighing the actual impact on power supply may not be available as yet because "everything is still very fluid."
On the oil side, industry players are also hinting that Japan may introduce some seismic shifts in the demand for the commodity and such may push new round of spikes in prices as well as supply tightness.
It has been emphasized that "while there is a slight dip in Japanese demand especially for transport fuels, this is unlikely to hold as more diesel will be needed for construction work and transportation as it slowly recovers," adding that "the increase in transport sector demand is likely to spillover over into gasoline and jet fuel consumption. …