Abstract
This paper examines the Philippine energy development strategy in the light of the present projections of energy prices and discusses the implications of this strategy regarding the past and future investment plans of the energy sector. In reviewing the past decisions, the paper indicates the economic costs associated with the sub-optimality of these decisions, as well as costs related to implementation inefficiencies. In discussing the future investment strategy, the paper describes some recent accomplishment in the development of least-cost investment plant and the establishment of the coordinating machinery. Finally, the paper points out the lessons from the Philippine experience which may be of value to other developing countries.
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