EWC still on hold in the Philippines, page-9

Been there over 50 times, last time a few months back. Indeed a gas fired plant will run sometimes - during peak periods, maybe into the mid-cycle during the hot season, but that is not a lot of operating hours during which to recover capex. Without a contract that covers the investment component, you have to bid into the WESM, you are dispatched according to your variable fuel costs only, and market prices are set by the variable fuel costs of the marginal generator. The only time an LNG fired generator will recover any capital costs is when an oil fired generator sets the market price and that happens less and less, because of lots of coal and renewables. As far as reliability goes, it has gone up in much of the country and in Luzon, power is NOT going out because of generation shortages, but rather because of the condition of some of the rural cooperative networks. Supply in Manila, meaning from Meralco, is quite reliable.