THE KEY to lowering the cost of power in the country lies in having more renewable energy (RE) in the mix, according to Senator Sherwin T. Gatchalian, who urged the government to seek foreign investors in developing solar, wind, biomass ocean and tidal energy projects.
Citing July data from the Manila Electric Co. (Meralco), Mr. Gatchalian said RE plants had the cheapest average cost at P4.7 per kilowatt hour (kWh), accounting for only 7.69% of the total power purchased by the power distribution firm.
Data from the same month showed that coal plants had the highest generation cost at an average of P8.1 per kWh, while gas-fired plants came in second with an average cost of P5.6 per kWh.
But RE accounts for only 22% of the Philippine energy mix, said Mr. Gatchalian.
For its part, the Department of Energy (DOE) said it was monitoring RE service contractors who fail to implement their projects on time, warning to have their projects cancelled if delays persist. — John Victor D. Ordonez
