ENERGY Secretary Alfonso G. Cusi said more partnerships are needed between the public and private sectors to make the Philippines attractive for renewable energy and energy security investors.
Mr. Cusi said during the 5th Financial Executives Institute of the Philippines general membership meeting Wednesday that the government can introduce policies which will make the country a “haven” for such investments.
“The government can introduce policies and laws to… even out the playing field for stakeholders. Most of all, we need to ensure that the sector is equitable for both businesses and our consumers. Ultimately, however, we can only achieve our aspirations if the titans of the industry — both local and foreign — stand with us side by side,” Mr. Cusi said.
Mr. Cusi said connecting and energizing off-grid, unserved, and underserved areas remains a challenge during the pandemic.
“As we are seeking to rebuild back better into the new normal, our desire to attain power sufficiency should all the more be intensified. Amid the challenges to hurdle, there are also many opportunities that can be explored,” Mr. Cusi said.
“Way before this pandemic even came into play, the Philippines has always been aspiring for power supply sufficiency as a pre-requisite for an effective competitive spot market, and for bridging the logistics requirements of the country’s archipelagic layout,” he added.
Mr. Cusi pointed to policies that potentially address these problems such as Executive Order No. 116, which created the Nuclear Energy Program Inter-Agency Committee; Republic Act No. 11285, which seeks to incentivize energy efficiency and conservation; and the moratorium on approving new greenfield coal-fired power plants.
“I also call for the support of the titans in the industry to take advantage of the government’s existing policies and consider the Philippines their gateway to the Asia-Pacific region,” Mr. Cusi said. — Revin Mikhael D. Ochave
