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PHILIPPINE ENERGY SECTOR

Overview and Business Opportunities
Ver 3.0 / April 2015

Content
PHILIPPINE ENERGY SECTOR..................................................................................................... 1
History, Development and Legal Framework......................................................................1
Energy Sector Performance........................................................................................................... 3
High Cost of Energy.......................................................................................................................... 6
Energy Reform Agenda / Philippine Development Plan................................................6
Key Players in the Energy Sector................................................................................................ 8
Energy Opportunities in the Philippines.............................................................................. 11
Energy Crisis in 2015..................................................................................................................... 11
Energy Fairs in the Philippines 2014-2015.........................................................................12

Biddings, Tenders and Projects:

1. Department of Energy
2. PSALM - Power Sector Assets and Liabilities
Management Corporation
3. Philippine Government Electronic Procurement
System

History, Development and Legal Framework

The National Power Corporation (NPC) has, since its establishment in 1936, controlled
and monopolized both the transmission and generation sectors. But legislations and
presidential decrees have been put in place to put an end to the monopoly. In 1987, the
Aquino administration passed Executive Order No. 215 to encourage private sector
participation. In 1990, Republic Act No. 6957, more popularly known as the Build-
Operate-Transfer Law (BOT Law) was enacted which permitted private contractors
under a build-operate-transfer or build-and-transfer (BAT) scheme to construct and
operate power generations facilities. But despite the enactment of these laws, the
increase in demand for energy wasnt met and the factors that contributed to it was the
suspension of the expected operations of the Bataan Nuclear Powerplant (BNPP) and the
fact that investors were said to be discouraged from investing since they were forced to
negotiate power supply contracts exclusively with NPC.
Republic Act No. 7718 amended the BOT law to include Rehabilitate-own-and-operate
(ROO) schemes, as well as the concept of unsolicited proposals.
Republic Act No. 7468, otherwise known as the Electric Power Crisis Act of 1993
gave the president the power to enter into and negotiated contracts for the construction,
repair, rehabilitation, improvement or maintenance of power plants, projects and
facilities. This in turn resulted in an increase of investments made by Independent Power
Producers (IPP). Despite this, NPC remained in debt. In 2001, NPC owed approximately
US$ 16.39 billion to creditors.
The Electric Power Industry Reform Act (R.A. 9136), also known as EPIRA Law
was created in order to bring down electricity rates and to improve delivery of power
supply to end users by encouraging competition and efficiency in the electricity industry.
After being in place the NPC will undergo restructuring and there will be a separation of
the different components of the power sector, namely, generation, transmission,
distribution and supply. NPCs privatization is also included in the said reforms. The
state-owned power firms generation and transmission assets (e.g. power plants and
transmission facilities) were put on sale to private investors.
Regulation
A quasi-judicial regulatory body, the Energy Regulatory Commission is also created
to replace the Energy Regulatory Board to promote competition in the power sector,
encourage market development and consumer choice.
Another change introduced by EPIRA Law is the creation of a wholesale electricity spot
market, through which competitive market forces would establish generation tariffs and
make costs more transparent. Effects of this scheme were more visible in later years,
around 2006. Implementation of EPIRA was severely delayed.
Privatization
In the end of 2012, the Power Sector Assets and Liabilities Management
(PSALM), a government-owned and controlled corporation tasked to undertake the
privatization of the assets of the National Power Corporation (NPC) and the National
Transmission Corporation (Transco) as well as the privatization of the management of
NPC's IPP (Independent Power Producer) contracts, had managed to privatize 70% of
the total capacity of generating assets of NPC in Luzon and Visayas and more than 70%
of the total energy output of power plants under contract with NPC to the IPP
administrations.
The EPIRA also introduced the concept of Retail Competition and Open Access. Retail
Competition means that eligible electricity customers or retail customers may
themselves contract for the supply of electricity with authorized suppliers, rather than
through the franchised distribution utility. Open Access on the other hand is the means
by which the Retail Competition is achieved. It means that the retail electricity customers
and suppliers of electricity may also contract with the transmission company and the
distribution company for the wheeling or delivery of energy/electricity through the
transmission of distribution ware.
Upon implementation of EPIRA, the government is no longer allowed to build power
plants, and it is the private sector that builds power plants. The DOE only
assists/facilitates in the timely implementation of the power projects by providing
endorsements to other government agencies in securing the documentary/ regulatory
requirements.
In the event that there are emergency cases of power outage and there is a need for the
production of more energy, it is only then that the government may request for
emergency powers to address the immediate need.

Energy Sector Performance

The statistics from the department of Energy provide the 2013 Total Gross Power
Generation in MWh at 75,265, 842 MWh (in Luzon it is at 54,819,517, in Visayas it is
at 11,099,593, in Mindanao it is at 9,346,731.)
When it comes to power generation by plant type, the largest percentage has consistently
been through Coal, with a 44% share of total generation as in 2013, there has been
32,081,007 MWh. Natural Gas comes in second at 18,791,266 MWh, Hydro at
9,954,416 MWh, Geothermal at 9,574,598 MWh, Oil based Energy with 4,490,600
MWh, Wind at 65,655,MWh Biomass at 211,973MWh, and solar at 1,414 MWh.
The same source provides that out of the 75,266 GWh the biggest portion of power
consumption (20,677 Gwh) falls under the Industrial Category and the Residential Use is
second at 20,614 Gwh. Commercial use, on the other hand consumed 18,304 within the
same period in 2013.

Gross Power Generation

Phils by Grid 2009 2010 2011 2012 2013 % share
in Mwh

Luzon 44,972,103 50,250,351 49,973,621 52,275,587 54,819,517 72.83%

Visayas 8,724,298 9,075,264 10,455,743 11,482,714 11,099,593 14.75%
Mindanao 8,235,278 8,402,769 8,702,648 9,126,871 9,346,731 12.42%
Total 61,931,680 67,728,384 69,132,012 72,885,172 75,265,842 100%
Source : Department of Energy Statistics

Energy Mix (DOE 2013)

Coal
Oil Based
Natural gas
Geothermal
Hydro
Wind
Solar
Biomass
 Source : Department of Energy Statistics

Out of the total energy generation in the Philippines in 2013, local fuel is at 57.92% of
the total share, while the rest, the remaining 45.16% is imported. 39% of coal, which is
the dominant source for the energy generation as of 2013 statistics from the DOE, is
imported, and only 4.99% of this dominant source is locally sourced.

Natural gas, which comes in as the second largest source of energy at 25.77% of the total
shares, is mostly from local sources.
GROSS POWER GENERATION
2013
Philippines By 2010 2011 2012
Plant Type

MWh % share
MWh % share MWh % share MWh % share

Coal 23,301,105 34.40 25,342,176 36.63 28,264,867 38.76

32,081,007 43.99

Oil Based 7,101,002 10.48 3,397,599 4.91 4,254,015 5.83

4,490,600 6.16

- Combined
cycle 1,202,040 1.77 123,556 0.18 227,354 0.31
247,159 0.34

- Diesel 4,531,688 6.69 2,762,331 3.99 3,332,081 4.57

3,805,078 5.22

- Gas Turbine 3,164 0.00 0 0.00 0 0.00

0 0.00

- Oil 1,364,111 2.01 511,712 0.74 694,580 0.95

438,363 0.60

Natural Gas 19,517,854 28.81 20,591,323 29.77 19,641,527 26.93

18,791,286 25.77

Geothermal 9,929,152 14.66 9,942,330 14.37 10,249,990 14.06

9,574,598 13.13

Hydro 7,803,405 11.52 9,697,532 14.02 10,252,134 14.06

9,954,416 13.65

Wind 61,717 0.09 88,204 0.13 75,339 0.10

65,655 0.09
1,414 0.00
Solar 1,254 0.00 1,212 0.00 1,320 0.00
Biomass 27,270 0.04 115,274 0.17 182,819 0.25
211,973 0.29

Total Generation 67,742,759 69,175,650 72,922,011

75,170,950

Source: Department of Energy Statistics

 Generation using Local and Imported Fuel
2010 2011 2012 2013
%
Using Local % Share % Share % Share Share
MWh MWh MWh MWh
Fuel to Total to Total to Total to
Total

Coal 1,607,091 2.37 1,859,510 2.69 2,463,223 3.38 3,638,402 4.99

Natural Gas 19,517,854 28.81 20,591,323 29.77 19,641,527 26.93 18,791,286 25.77
Geothermal 9,929,152 14.66 9,942,330 14.37 10,249,990 14.06 9,574,598 13.13
Hydro 7,803,405 11.52 9,697,532 14.02 10,252,134 14.06 9,954,416 13.65
Wind 61,717 0.09 88,204 0.13 75,339 0.10 65,655 0.09
Solar 1,254 0.00 1,212 0.00 1,320 0.00 1,414 0.00
Biomass 27,270 0.04 115,274 0.17 182,819 0.25 211,973 0.29
Sub-total 38,947,743 57.49 42,295,385 61.14 42,866,352 58.78 42,237,745 57.92

%
% Share % Share % Share Share
MWh MWh MWh MWh
Using to Total to Total to Total to
Imported Fuel Total
Coal 21,694,014 32.02 23,482,666 33.95 25,801,644 35.38 28,442,605 39.00
Oil-based 7,101,002 10.48 3,397,599 4.91 4,254,015 5.83 4,490,600 6.16
Combined
Cycle 1,202,040 1.77 123,556 0.18 227,354 0.31 247,159 0.34
Diesel 4,531,688 6.69 2,762,331 3.99 3,332,081 4.57 3,805,078 5.22
Gas Turbine 3,164 0.00 0 0.00 0 0.00 0 0.00
Oil Thermal 1,364,111 2.01 511,712 0.74 694,580 0.95 438,363 0.60
Sub-total 28,795,016 42.51 26,880,265 38.86 30,055,658 41.22 32,933,205 45.16

Using Local
Fuel 38,947,743 57.49 42,295,385 61.14 42,866,352 58.78 42,237,745 57.92
Using
Imported Fuel 28,795,016 42.51 26,880,265 38.86 30,055,658 41.22 32,933,205 45.16
Total 67,742,759 69,175,650 72,922,011 75,170,950

Power Consumption by Sector in 2009 2010 2011 2012 2013

Gwh

Residential 17,504 18,833 18,694 19,695 20,6014

Commercial 14,756 16,261 16,624 17,777 18,304

Industrial 17,084 18,576 19,334 20,071 20,677

Others 1,523 1,596 1,446 1,668 1,971

Electricity Sales 50,868 55,266 56,089 59,211 61,566

Utilities Own Use 3,524 4,677 5,398 5,351 5,959

Power Losses 7,542 7,800 7,680 8,360 7,741

Total 61,934 67,743 69,176 72,922 75,266

Source: Department of Energy Statistics

High Cost of Energy
The high cost of energy in the Philippines is one of the biggest issues that the
government aims to resolve. The Philippines electricity tariff are said to be among the
highest in the world. It is important to address considering the fact that it is one of the
inhibitors for foreign companies wishing to invest in the Philippines, on the other hand,
investments in energy production tend to return quicker than in the rest of the word.
Meralcos (distributing company) average retail tariff pegged at US$0.2026 per kilowatt-
hour (kwh) or PhP8.82,4 are ranked ninth highest in the world and the second
highest in Asia (next only to Japan). The biggest component of this tariff is the
generation component, at 65 percent of the overall retail tariff. This is reflected in a
study made by the International Energy Consultants (IEC). IEC points out that
Philippine power supply tariffs reect actual costs of supply as compared to its neighbors
who enjoy government subsidies that reduce their average tariffs.
The Philippine Energy Plan and Philippine Development Plan also illustrated the current
situation of the Philippine Energy Sector. Philippine Energy Plan 2012-2030 says that
the current installed capacity in the country of about 16,250MW is expected to go up to
25,800MW (an increase of about 60 percent by 2030). This is still expected to be short
of the projected demand of 29,330MW in the year 2030.

ERA - Energy Reform Agenda / Philippine Development Plan

Under the administration of President Benigno Aquino, and during the time of then
Energy Secretary and now Cabinet Secretary Jose Rene Almendras, the Department of
Energy started to formulate the Energy Reform Agenda (ERA). The ERA was also
mandated in order to pursue the UN Sustainable Energy for all initiative development,
and the ASEAN Plan of Action for Energy cooperation. The energy Reform Agenda is
mentioned in the Philippine Development Plan (PDP) 2011- 2016 and includes the
following measures:
A. Power Sector Development: Based on the Plan, the government will
concentrate its efforts on the completion of committed power projects, as well as attract
local and foreign investors to venture into indicative and potential power projects to
include electrification projects.
B. Fuelling Sustainable Transport Program: PDP will pursue the implementation
of the Fueling Sustainable Transport Program (FSTP) which seeks to convert public and
private vehicles from diesel and gasoline to compressed natural gas (CNG), liquefied
petroleum gas (LPG) and electric power. Under the program, CNG buses are envisioned
to ply throughout the country. It also includes the promotion of electric vehicles for
public transport and the increase in biofuels blends to 20.0 percent. It also aims to
reduce air pollutants in the country.
C. Indigenous Energy Development Program: The Plan indicated the energy
sectors intention to pursue all means to develop the countrys indigenous resources. The
plan programs the conduct of energy contracting rounds as an effective strategy to bring
in critical investments for the exploration, development and production of local energy
resources.
D. National Renewable Energy Plan: The Renewable Energy Act (Republic Act
9513) was passed in 2008 to fully harness the countrys renewable energy potential such
as geothermal, hydro, wind, solar, biomass and ocean. The PDP includes the targets set
under the NREP to strengthen its energy security plan. Specifically, the NREP seeks to
increase the countrys renewable energy-based capacity by 2030. It provides incentives
to private sectors investments in Renewable Energy such as: 7 yrs. tax holiday after the
beginning of the commercial operations, duty-free importation of Renewable Energy
machinery, zero % value-added tax rate for equipment and materials, cash incentives, tax
exemptions, feed-in tariff system rules established by the Philippines Energy Regulatory
Commission.
E. Energy Efficiency and Conservation Program: The PDP includes the National
Energy Efficiency and Conservation Program (NEECP) as one of the centerpiece
strategies in pursuing energy security of the country and looks into it as a major solution
to the energy challenges of the future. The proposed legislation aims to incorporate
policies and measures to develop local energy auditors and energy managers, establish
the ESCO industry, encourage the development of energy efficient technologies and
provide incentives for the effective promotion of efficiency initiatives in the energy
market sector.
F. Natural Gas Masterplan: This includes the review and update of the Master Plan
Study for the Development of the Natural Gas Industry in the Philippines. It also
includes an evaluation of the natural gas infrastructure requirements in the Visayas and
Mindanao regions in view of the DOEs plan to implement a Natural Gas Infrastructure
Development Plan in these regions. The Masterplan, with technical assistance from
Japan International Cooperation Agency (JICA) and World Bank, evaluates the
opportunities, critical infrastructures and required investments for the development of
the natural gas industry.

The Philippine Development Plan is expected to be updated after the elections in May
2016.

***
KPMG in its study on the energy sector estimates that there will be an aggregate
investment opportunity of about US$25 billion until 2030. The opportunity is big and
the sector has the players who could potentially handle that level of investment
requirements. The study further mentions that there may be a need for Capacity
development for the existing stakeholders to thrive in the changed environment;
Potential partnerships across the Generation, Transmission and Distribution sectors;
and Possibility for new players to enter the competitive markets in the Philippines to
supplement the efforts of the existing players.
DOE further says that the Energy Plan or Power Development Plan provides the
available opportunities for the private sector to decide which area or sector they want to
invest in. In the Power sector, interested power generator may directly decide which
Distribution Utility (DU) it may submit offer and both the DU and the investor negotiate
for a supply contract subject for approval of the Energy Regulatory Commission.
Aside from the registration of their projects, private sectors involved in Energy projects
are committed to provide monthly updates on the status of their projects since DOE is
considering their projects in our power development planning. On the part of DOE, they
also assist private investors in case they have issues on other government agencies such
as DENR, NCIP, NWRB, etc.
Nuclear Energy in the Philippines

The Philippine nuclear program started in 1958 with the creation of the Philippine
Atomic Energy Commission (PAEC) under Republic Act 206. At present, the
Philippine Nuclear Research Institute handles all nuclear related activities, mostly
research work related to mutation, radiation, etc. They work closely with the
National Power Corporation with regard to the maintenance of the sole attempt at
establishing a Nuclear Power Plant in the country.
The Bataan Nuclear Power Plant (BNPP) was built under then President Ferdinand
Marcos in 1973 as a response to the 1973 oil crisis, as the Middle East oil embargo
had put a heavy strain on the Philippine economy, with the belief that nuclear power
is the solution to meeting the country's energy demands and decreasing dependence
on imported oil. The plant was 98% complete when it passed Hot Functional Tests,
nevertheless the Philippine parliament never permitted its use.
The plant is now conserved and used as a tourism destination. At present, the
Philippine government has not yet any issued policy on nuclear power generation.
There is also a pending bill in Congress to rehabilitate and operate BNPP, initially
sponsored by Rep. Marc Cojuangco and now by his wife, Rep. Kimi Cojuangco.
Congress' deliberation of this bill has undergone moratorium due to Fukushima
accident in Japan.

Key Players in the Energy Sector

Luzon Island (Main island with Manila)

1. San Miguel Corporation (SMC)

San Miguel Corporation is a large Philippine conglomerate producing mainly food and
beverages. SMEC also controls an aggregate of 2,545MW of capacity. In its portfolio
are the 1,200MW natural-gas red Ilijan power plant owned by KEPCO Ilijan
Corporation, the 1,000MW Sual coal-red power plant owned by Team Energy (a
joint venture between Tokyo Electric and Marubeni), and the 345MW San Roque
hydropower plant owned by Strategic Power Development Corporation, all in Luzon
2. First Gen Corporation (First Gen)
First Gen boasts a 1,740MW portfolio comprised of the combined 1,556MW Santa
Rita and San Lorenzo natural-gas red power plants in Batangas City (which are
supplied natural gas from the Malampaya natural gas eld in offshore Palawan), the
132MW Pantabangan-Masiway hydropower plant complex in the province of Nueva
Ecija, and the 52.5MW Bacon-Manito geothermal power plant in Sorsogon.
3. Aboitiz Power Corporation (Aboitiz Group)
The Aboitiz Group has an aggregate capacity of 1,704MW. This includes the Tiwi and
Mak-Ban geothermal power plants, with an aggregate capacity of 401MW, and the
Ambuklao, Binga and Magat hydroelectric power plants, with aggregate capacity of
 603MW. The Aboitiz Group is the industry leader in hydropower. The Aboitizes also
control the capacity of the 700MW Pagbilao coal power plant in Quezon province.
4. AES Masinloc - AES Masinloc has an aggregate capacity of 625MW.
5. SEM Calaca - SEM Calaca has an aggregate capacity of 600 MW.
Visayas Islands
1. NPC/PSALM (the National Power Corporation and the Power Sector Assets and
Liabilities Management Corporation)
They control the capacity of the 700MW Unied Leyte Geothermal complex owned
by Energy Development Corporation (EDC, a subsidiary of First Gen and the second
largest geothermal energy producer in the world).
2. Global Business Power Corporation (GBPC)
GBPC, Metrobank Groups power generating business venture among GT Capital,
First Metro Investment Corporation and Orix orporation. GBPC owns nine power
generation facilities in the Visayas region and Mindoro Island, with a combined
installed capacity of 627MW.
3. First Gen
First Gen through its EDC-owned 253MW Palinpinon-Tongonan Geothermal power
plants.
4. Aboitiz Group - Aboitiz Group has an aggregated capacity of 249 MW.

Mindanao Island
By 2015, a new leader in Mindanao is expected to emerge. Upon completion of its
planned 100MW Iligan Diesel Power plant in 2013 and its 200MW Saranggani Coal
Project in 2015, the Alcantara Group will lead the pack.

Foreign Players in the Philippine Energy Sector

AES Philippines
An American firm that won the bid for Masinloc plant in Zambales. They provide 3.9 of
the total installed generation capacity.
AES Website

EGCO International
Thailands Electricity Generating PCL (EGCO) entered into a purchase agreement with
Covanta Energy Investments to acquire an additional ownership interest in the Quezon
Power Project in the Philippines.
EGCO Website
Salcon Power Corporation (SPC)
A Singaporean firm that won the bidding of the National Power Corporations bidding
for the Naga Power Plant Complex in Cebu. They provide 3.2 % of the countrys installed
generation capacity.

SPC Info

Kepco Philippines
The Korean Electric Power Corporation (KEPCO) expanded its operation in the
Philippines in 1995 and since its entry, now provides 12% of the total installed generation
capacity in the country.

Kepco Philippines Website

Team Energy
A Japanese firm that owns and operates coal facilities in Luzon. They own 20_ stake in
the natural gas-fired plant in Ilijan, Batangas.

Team Energy Website

Energy Opportunities in the Philippines
Republic Act. No. 9136 or the Electric Power Industry Reform Act (EPIRA) stipulated
several reforms in the power industry. One of which is the privatization of the National
Power Corporation that involves the sale of the state-owned power generation assets
through the PSALM. This is to encourage greater competition an attract more private-
sector investments in power generation.
 Several requirements have to be complied before a private investor could build a power
plant depending on the fuel to be used. For reference, here is the link to the Energy
Investors Guidebook.
For power plants utilizing renewable energy resources, a company should have a 60%
(Foreign) and 40% (Local) partnership. However for a power plant utilizing coal as fuel,
a 100% foreign company is allowed. For the details of the procedure, kindly refer to the
Energy Investors' Guidebook.
For the bidding opportunities on NPCs power plants, the Power Sector Assets and
Liabilities Management Corporations (PSALM) website provides the updates on the
power plants for bidding out.
Sources:

PSALM Website
DOE Website

Energy Crisis in 2015

Department of Energy predicted a major energy deficiency and subsequent brownouts during the
spring months of 2015 (the hottest months in the Philippines) , most probably in April 2015.
The DOE has lined up projects that should mitigate the expected brownouts. One of them is the
Interruptible Load Program, where large private companies with own generating sets participate
to take their load off the grid and run their own generators when there is insufficient supply in the
grid. These companies will be compensated based on the rates approved by the ERC. Another
measure should be the so called Additional Capacities, these are the capacities that are no longer
running, but the owners are willing to rehabilitate them to be available in 2015.
A Joint Resolution (House Joint Resolution 21) to grant emergency powers to President Aquino to
address an impending energy crisis has been approved in the Philippine Congress. The special
powers for Aquino will allow the government pay extraordinary payments to large industrial and
commercial establishments which would disconnect from the grid and use their own generators
during peak hours to free up power for use by households.
The ILP and other measures take effect from March to July 2015 unless terminated earlier by
Congress. The resolution also requires Aquino to submit a monthly report to Congress.
The grant of emergency power to the President will also entail the fas tracking of putting up
power generation projects, and there are talks on compensating the ILP by using the Malampaya
funds but this is not yet final. Emergency power was granted by Congress on November 18, 2014.
The Presidents emergency powers will last until July, 2015.

Sources:
Department of Energy Website
KPMG 20113-2014 Energy Report Philippines
PSALM Website
Electric Power Industry Management Bureau, Department of Energy
Investment Promotion Office, Department of Energy

Energy Fairs in the Philippines 2014-2015

Event / Fair Date Venue Description Tel no Fax No Email Website

Green Energy TBC, Forum on Renewable +63 2 750 info@globall Website

TBC 750 8585
Philippines Manila Energy in the Philippines 8588 inkmp.com
Power trends TBC TBC, International Exhibition and +63 2 818- 810-1594 Website
 Business Forum on Energy
Manila Trends and the Power 6828
Technologies
Forum bringing together top
energy efficiency
Philippine professionals to discuss (+632) 84 jrunez@ecc
Energy TBC, topics on Energy Efficiency. 5.1324 / p.com,
TBC Website
Efficiency Manila It is also a venue for leading (+632) elaine.evasc
Forum companies and solutions 759.6680 o@eccp.com
providers exhibit their
products and services.
Forum bringing together top
energy efficiency (+632) 84 jrunez@ecc
Energy Smart Cebu professionals to discuss 5.1324 / p.com,
TBC
Cebu Forum City topics on Energy Efficiency , (+632) elaine.evasc
this time held in the Visayas 759.6680 o@eccp.com
Area
It delivers the most
comprehensive overview of
the Philippines electricity
market and the
governments plans for a
sustainable energy future.
The conference will bring
Power & together representatives
+65 6508 groups@ibca Website
Electricity TBC TBC from the power generation,
2477 sia.com.sg
Philippines transmission and
distribution companies,
local and foreign investors
and policy regulators to
discuss the immense
opportunities in the
competitive electricity
market in the Philippines.
Forum conducted by the
Hotel Investment Promotions
Energy Decemb
Interco Office of the Department of
Investment er 4,
ntinent Energy to provide
Forum 2014
al opportunities in the Energy
Sector

The Department of Energy provides a list of Private Sector Initiated Projects in Luzon, Visayas
and Mindanao. It is further sub-divided into committed and indicative.