That is what I meant. Look, at the end of the day, DYOR. This is in the public domain:
http://www.lantaugroup.com/files/ppt_rec17_sf.pdf
Along with a lot of other decks on that site. Slide 13, on the status quo, is one view of when a new CCGT can come into the market. This also provides an interesting view of the central role of Meralco contracting in the Luzon market.
You can also look at this:
https://ph5.colfinancial.com/ape/Final2/ResearchCompUpdates/Downloads/2017-07-14-PH-S-FGEN.pdf
