Quantcast
Latest Stories

PH energy sector requires P3T in investments

Energy projects to support growth of domestic economy

By

The Philippine energy sector will need at least P3 trillion in fresh investments between now and 2030, to ensure adequate power to support the growth of the local economy.

Based on the Philippine Energy Plan 2012-2030 unveiled before stakeholders on Wednesday, the bulk of the investment, or P1.2 trillion, will go to the natural gas sector.

Roughly P950 billion is expected to be poured into the alternative fuels sector; P557 billion in renewable energy projects; P397 billion in power generation projects; and P48 billion in upstream resource development, Energy Secretary Carlos Jericho L. Petilla said in his presentation of the latest energy blueprint.

According to the PEP, the expected 7 percent economic growth of the country will require an additional capacity of 11,400 megawatts, which will all come from the private sector.

The investments are also expected to help the government pursue its main thrusts for the energy sector, namely, ensure energy security, which is the physical availability of energy supply at a reasonable price; expand energy access with focus on providing electrification to the countryside to usher economic growth; and promote a low-carbon future in response to global calls to mitigate climate change.

Petilla said one of the reference frameworks of the 2012-2030 PEP was the Energy Reform Agenda formulated at the onset of the Aquino administration, with the main focus of providing “energy access for more.”

“The agenda is anchored on encouraging stakeholders’ participation and proactive collaboration with local government units (LGUs), promoting transparency and accountability and initiating multi-sectoral partnership in all phases of energy policy and planning and program implementation,” Petilla said.

“It will also maximize the use of developments in the ICT to improve the delivery of energy products and services in the country. The public and stakeholders shall have access to information on the initiatives of the energy sector including their development and progress with respect to agreed benchmarks,” he added.

The plan also calls for the establishment of an integrated Information and Communications Technology (ICT) infrastructure that will enable various stakeholders to access energy-related information and services in real time.

An updated and online energy data and information, Petilla said, will help policy makers make intelligent decisions, appropriately guide the business sector on the best investment options and promote consumer empowerment.


Follow Us


Follow us on Facebook Follow on Twitter Follow on Twitter


Recent Stories:

Complete stories on our Digital Edition newsstand for tablets, netbooks and mobile phones; 14-issue free trial. About to step out? Get breaking alerts on your mobile.phone. Text ON INQ BREAKING to 4467, for Globe, Smart and Sun subscribers in the Philippines.

Tags: Energy , Investments , Philippine Energy Plan 2012-2030 , Philippines



Copyright © 2014, .
To subscribe to the Philippine Daily Inquirer newspaper in the Philippines, call +63 2 896-6000 for Metro Manila and Metro Cebu or email your subscription request here.
Factual errors? Contact the Philippine Daily Inquirer's day desk. Believe this article violates journalistic ethics? Contact the Inquirer's Reader's Advocate. Or write The Readers' Advocate:
c/o Philippine Daily Inquirer Chino Roces Avenue corner Yague and Mascardo Streets, Makati City, Metro Manila, Philippines Or fax nos. +63 2 8974793 to 94
Advertisement
Advertisement

News

  • 22 houses destroyed, 3 hurt as violent wind storm hits village
  • 242 out of 438 pass board tests for chemical engineers
  • Reckless driver endangered lives of Aquino, entourage–report
  • 5 OFWs from Negros quarantined for MERS-CoV tests
  • Release of village chief’s truck caught carrying illegal logs slammed
  • Sports

  • Alaska takes quarterfinals opener over San Mig Coffee
  • Jackson finds second wind to push Meralco past Rain or Shine
  • NLEX fights off Derulo Accelero to remain unbeaten
  • Mayweather diehard Bieber eats pride, poses with Pacquiao for photo op
  • Power Pinays rip Singapore to enter quarters in Asian volley tilt
  • Lifestyle

  • Miss America: Don’t suspend teen over prom invite
  • Transitions and resurrection in the performing arts
  • ‘Archaeology tour’ of Cebu’s heritage of faith
  • Historic Fort Bonifacio tunnel converted into a septic tank
  • ‘Imports’ from London, and play of the year
  • Entertainment

  • Arrest warrants out vs. Deniece Cornejo, Cedric Lee, et al over serious illegal detention
  • Lindsay Lohan says she had a miscarriage
  • Discovery network cancels Everest jump
  • ‘Captain America’ stays strong atop US box office
  • Easter musings
  • Business

  • Oil prices to go up on supply concerns, optimism on US rebound
  • Century Pacific Food sets IPO price at P13.75 per share
  • Oil prices down in quiet Asian trade
  • Asian shares mixed in holiday-thinned trade
  • BDO seen keen on bidding for Cocobank
  • Technology

  • PH has slowest internet in Southeast Asia
  • Nintendo’s trailblazing Game Boy marks 25th anniversary
  • Nasa’s moon-orbiting robot crashes down
  • Netizens pay respects to Gabriel Garcia Marquez
  • Nokia recalls 30,000 chargers for Lumia 2520 tablet
  • Opinion

  • Gigi’s home
  • Palace stonewalls on MRT inquiry
  • Couple of things too
  • There is plenty of water behind Wawa Dam
  • Triduum thoughts of a young boy
  • Global Nation

  • QC woman who flew in from Middle East tests negative for MERS-CoV
  • DFA, DOH urge OFWs not to panic over MERS-Cov
  • Balikatan could spoil peace talks, says militant group
  • DFA officers hold workshop on aiding human traffic victims
  • Canada in communication with PH on toxic wastes
  • Marketplace