Power demand growth to benefit flexible generatorsFrom AB Capital's The Opening Bell: Three MovesEventNGCP projects electricity demand to rise across all grids in 2026, led by Visayas (+24%), followed by Luzon (+13%) and Mindanao (+12%), noting that recent peak demand levels have already breached forecasts. DOE said Luzon supply remains adequate, while Visayas faces tighter conditions, supported by contingency measures and planned capacity additions. ViewThe outlook points to a return to demand growth off a low 2025 base, with Visayas remaining structurally tighter. ActionWe see the demand reacceleration as more supportive for gencos with higher spot-market exposure (ACEN, SCC) where tightness can translate into incremental margin upside, albeit well below prior WESM cycle highs. It is not to be construed as an offer or solicitation of an offer to sell or buy the securities herein mentioned.

Source: Philippine Star January 15, 2026 02:42 UTC