Like many emerging economies worldwide, the Philippines is set to benefit from a young, working-age population, strong economic growth, and a rapidly growing middle class. However, one of the factors preventing it from achieving its full growth potential is the high and volatile cost of energy among the highest in Asia. Solving this problem is imperative, with peak energy demand projected to grow four-fold between 2020 and 2040 and infrastructure lagging behind.
The absence of a stabilized forward market in the Philippines hinders potential investment in new energy projects. Seeking to solve this, Green Tiger Markets (GTM) has created a standardized electricity marketplace that helps solve the problem of extreme price volatility and creates an opportunity to stabilize power prices. GTM’s forward market platform provides a much-needed mechanism for hedging and risk management in underserved markets.
According to GTM chief executive John Knorring, one of the main barriers to contracting energy is high …