Power bills set to fall for rest of 2023

The Philippines is moving toward nuclear power with the creation of the Philippine Atomic Energy Regulatory Authority (PhilAtom), signaling policy certainty for investors. The government targets 1,200 MW of nuclear capacity by 2032 across 15 potential sites. Officials are exploring separate auctions and multilateral financing, with U.S. backing pushing institutions like the World Bank and ADB to consider nuclear investments.

Indonesia signed a Mutual Recognition Agreement with Verra, linking its national carbon registry (SRN-PPI) to global standards and unlocking up to 50 million carbon credits ahead of COP30. The partnership, which follows collaboration with Gold Standard, aims to enhance transparency, attract international buyers, and align Indonesia’s carbon market with its Paris Agreement and NDC goals.

Thailand has postponed retiring key units of its Mae Moh coal power plant, extending operations to 2048 despite pledges on clean air and emissions. Communities already suffering respiratory illnesses fear worsening health impacts, while activists warn the move undermines Thailand’s climate goals. Mae Moh, the nation’s top CO₂ emitter, symbolizes the tension between energy security, economic reliance, and public health. The plant continues to emit mercury, SO₂, and PM2.5 at dangerous levels, with residents doubting EGAT’s 2050 closure pledge. Critics argue the delay locks Thailand deeper into coal just as its renewable energy transition lags behind regional peers.

Mainland Southeast Asia’s wind energy growth is uneven: Vietnam leads with ambitious offshore projects, Thailand eyes 7GW expansion, Laos exports from the Monsoon project, Cambodia starts farms despite challenges, and Myanmar’s conflict-linked rare earths complicate turbine supply chains.