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PH open to all energy sources to fuel growth

By: - Reporter / @daxinq
/ 12:13 AM January 23, 2017

The Philippines needs to be open to all forms of power sources to meet the rising demand for electricity amid one of the most rapid economic growth rates in the Asia-Pacific region, according the country’s energy chief.

In a statement, Energy Secretary Alfonso Cusi said the government would encourage investments in both renewable as well as conventional energy forms.

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“We will be technology neutral as we need all forms of energy resource to fuel our economic growth,” he said during last week’s 15th Ministerial Meeting of the Asian Cooperation Dialogue (ACD) in Abu Dhabi, the United Arab Emirates.

During the event, he underscored the need to build an appropriate portfolio of dependable power capacity mix composed of 70 percent baseload power plants, 20 percent mid-merit plants and 10 percent peaking plant categories, while taking into consideration the 25-percent reserve requirements on a per grid basis.

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Cusi also highlighted that energy projects in the Philippines were, as a policy, treated as “projects of national significance.”

“The policy assures the timely implementation of energy and power projects, which will subsequently address the energy supply deficiency and ease the rising cost of power in the country,” he said.

Recognizing the importance of energy planning with rising power demand due to rapid urbanization, Cusi said that the energy sector would play a critical role in ensuring the reliable supply of energy to all consumers nationwide.

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TAGS: 15th Ministerial Meeting of the Asian Cooperation Dialogue, Asia-Pacific Region, Energy Secretary Alfonso Cusi, Philippine business news updates
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