Total Damages due to Oil Spill Reaches PhP 4.93 Billion in 2023
The Energy Accounts of the Philippines aims to provide information on the volume and value of coal, oil, natural gas, and condensate. The compilation adheres to the System of Environmental-Economic Accounting 2012 Central Framework (SEEA-CF) as well as the SEEA-Energy, a subsystem of the
Monetary Asset Accounts
The valuation of the energy assets of the Philippines uses the Net Present Value Approach as recommended by SEEA-CF using a 10 percent social discount rate.1
The total monetary value of Class A coal, oil, natural gas, and condensate reserves reached
Resource rent is the surplus value accruing to the extractor or user of an asset calculated after all costs and normal returns have been taken into account. This value can be taken to be the return attributable to the asset itself.2 The total resource rent of the four non-renewable energy resources contributed
Physical Asset Accounts
In physical terms, Class A coal reserves of the Philippines decreased from
1Recommended by National Economic and Development Authority. https://neda.gov.ph/wp-content/uploads/2017/01/Revisions-on-ICC-Guidelin...
2SEEA 2012 Central Framework, p.152
3United Nations Framework of Classification (UNFC) 2009
DIVINA GRACIA L. DEL PRADO, Ph.D.
(Assistant National Statistician)
Officer-in-Charge, Deputy National Statistician
Sectoral Statistics Office