Business groups express support for DOE’s balanced energy, coal policy

By Othel V. Campos – August 13, 2024, 6:55 pm
from manilastandard.net

Major business groups including the Philippine Chamber of Commerce and Industry (PCCI), the Management Association of the Philippines (MAP) and the Employers Confederation of the Philippines (ECOP) expressed their support for the Department of Energy (DOE) and Secretary Raphael Lotilla for pursuing a balanced energy policy that addresses the country’s unique needs.

The groups said they recognize the importance of balancing energy security and affordability with climate change concerns to support economic growth.

The business groups emphasized the Philippines’ growing energy demands and the need to increase power capacity.

They noted that even with the government’s goal of a 50-percent renewable energy share by 2040, there’s still a significant role for fossil fuels.

The groups also highlighted the high cost of energy insecurity, citing the recent power outage in Panay Island which resulted in an estimated P3.8 billion in economic losses for Iloilo province alone.

They expressed support for the DOE’s clarification on the moratorium on coal-fired power plants, which applies only to greenfield projects, and its efforts to develop indigenous resources to reduce dependence on imported fossil fuels, lower power costs and pursue energy efficiency.

“We unite behind the DOE in the pursuit of these objectives, the groups said.