A council composed of business leaders and experts from the country’s top companies has urged the Marcos administration to review the Philippine Energy Plan to slash power costs.
Members of the Private Sector Advisory Council (PSAC) made this call during a meeting with President Marcos late last week. After assuming the presidency in 2022, Marcos created this council meant to help the government hit its economic goals.
The group laid down recommendations, stressing that there was an “urgent need to reevaluate” the current master plan, which focuses on energy security and the shift to clean power sources.
The PSAC, however, said the national energy plan must give importance to making electricity prices cheaper, with “energy autarky, or self-sufficiency, as a supporting strategy.”
Members likewise pushed for revising capacity auctions, including the Green Energy Auction Program (GEAP), and aligning power supply procurement plans to ease prices for Filipino consumers.
Water sector, too
The administration is targeting to grow renewable energy’s share in the power mix to 35 percent by 2030 from the current 22 percent. GEAP is one of the initiatives it launched to accelerate this shift.
Aside from energy, PSAC also made suggestions for boosting the water sector, which include implementing flood control basins as part of the government’s infrastructure flagship projects and the privatization of water utilities in other areas facing supply woes.
With the entry of private players, the group said this could “improve water distribution systems, reduce nonrevenue water losses, and streamline permit processing.”
“By focusing on affordable energy and reliable water supply, we aim to create a foundation for long-term development that benefits every Filipino,” said Sabin Aboitiz, PSAC lead convenor and Aboitiz Group president and CEO.
“The private sector stands ready to collaborate with the government by sharing expertise, resources and innovative solutions to make these goals a reality,” Aboitiz added. INQ