Households in the Philippines and across Southeast Asia continue to buckle under soaring electricity and fuel costs, with low-income families absorbing the biggest blow, according to the International Energy Agency. Philstar Biz reported on the findings Wednesday.
The IEA report highlights that energy price increases have outpaced income growth in the region, forcing many households to cut spending on other essentials. The agency noted that the Philippines is among the most affected due to its heavy reliance on imported fossil fuels and limited social safety nets.
The report called for targeted subsidies and investments in renewable energy to alleviate the burden on vulnerable populations. It also urged ASEAN governments to accelerate energy efficiency programs and diversify power sources to reduce long-term exposure to global price volatility.