BUSINESS GROUPS said that the Department of Energy’s (DoE) pursuit of a balanced energy mix is suitable for achieving energy security while keeping power affordable.
In a joint statement on Tuesday, nine business groups led by the Management Association of the Philippines expressed support for Energy Secretary Raphael P.M. Lotilla’s policies, which they said were appropriate to the country’s particular context.
“As an emerging market, the country must balance energy security and affordability with climate change concerns to support its economic progress,” they said.
According to the groups, energy supply per capita is the third lowest in ASEAN, highlighting the need to prioritize the need to augment power capacity quickly amid growing energy demand.
“Even with the government’s goal of a 50% renewable energy share in the country’s power generation mix by 2040, it has left a sizable proportion for fossil fuel-based sources,” they said.
Criminal and administrative complaints have been filed against Mr. Lotilla by the Power for People Coalition (P4P) for endorsing the expansion of Aboitiz-controlled Therma Visayas, Inc. Unit 3 in Cebu.
In a statement last month, P4P said that the endorsement of the project violates the moratorium on greenfield coal-fired power projects declared by the previous administration.
Meanwhile, the business groups said: “The DoE has repeatedly made it clear that its own advisory on the moratorium on coal-fired power plants applies to greenfield projects.”
It added that the DoE is also working on the development of indigenous resources to reduce dependence on imported fossil fuels, to lower power costs, and to pursue energy efficiency to maximize energy resources.
“Energy insecurity is expensive. The power outage on Panay Island in January this year was estimated to have led to about P3.8 billion in economic losses for the Province of Iloilo alone,” the groups added.
The other signatories to the statement were the Makati Business Club, the Employers Confederation of the Philippines, the Federation of Philippine Industries, the Financial Executives Institute of the Philippines, and the Foundation for Economic Freedom.
Also signing were the Blockchain Council of the Philippines, Fintech Alliance.PH, and the Women’s Business Council Philippines.
On Aug. 5, the Philippine Chamber of Commerce and Industry (PCCI) also expressed support for Mr. Lotilla, noting that the allegations have the potential to push investors away.
“We are competing against other countries in the region in enticing foreign direct investment (FDI) to come to our shores; let us not create an air of uncertainty that could dissuade these investments,” the PCCI said in a statement on Monday. — Justine Irish D. Tabile
