BUSINESS GROUPS said the Department of Energy’s (DoE) commitment to a balanced energy mix is appropriate to achieve energy security while keeping energy affordable.
In a joint statement on Tuesday, nine business groups led by the Management Association of the Philippines expressed support for Energy Secretary Raphael PM Lotilla’s policies, which they said were appropriate for the country’s specific 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, per capita energy supply is the third lowest in ASEAN, highlighting the need to prioritize the need to rapidly increase energy capacity in the face of growing energy demand.
“Even with the government’s target to have a 50% share of renewable energy in the country’s power generation mix by 2040, a significant share has been left behind from fossil fuel-based sources,” they say.
There have been criminal and administrative complaints 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 the approval of the project violates the moratorium on green coal-fired power stations declared by the previous government.
Meanwhile, the business groups said: “The DoE has repeatedly made clear that its own advice on the coal-fired power moratorium applies to greenfield projects.”
It added that the DoE is also working to develop indigenous resources to reduce dependence on imported fossil fuels, reduce energy costs and pursue energy efficiency to maximize energy resources.
“Energy insecurity is expensive. The Panay Island power outage in January this year is estimated to have caused about P3.8 billion in economic losses for Iloilo province alone,” the group 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 signatories were the Blockchain Council of the Philippines, Fintech Alliance.PH and the Women’s Business Council Philippines.
On August 5, the Philippine Chamber of Commerce and Industry (PCCI) also expressed support for Mr. Lotilla, noting that the allegations have the potential to push away investors.
“We compete with other countries in the region in enticing foreign direct investment (FDI) to come to our shores; let us not create an atmosphere of uncertainty that could deter these investments,” the PCCI said in a statement on Monday. — Justine Irish D. Table