Hanoi, March 25 -- The Philippines has declared a state of emergency in the energy sector amid growing concerns over fuel supply disruptions and electricity security.
The Philippine Government on March 24 announced an "imminent danger of a critically low energy supply" as tensions in the Middle East threaten fuel supplies and the stability of the country's power system. In an executive order, President Ferdinand Marcos Jr. warned of an imminent risk to energy availability due to ongoing conflict affecting global fuel markets.
Authorities in Manila are considering short-term measures to curb electricity costs, including increasing output from coal-fired power plants. Energy officials said soaring liquefied natural gas (LNG) prices have for...