Connect with us

Hi, what are you looking for?

Economy

Senate asks DoE for details of clean energy plan

THE SENATE is seeking assurances that the government’s moratorium on new coal-fired power plants, a measure intended to allow renewable power to develop, does not raise costs or disrupt supply.

Senator Sherwin T. Gatchalian, who chairs the chamber’s energy committee, said in a statement calling for hearings on the coal ban that the transition needs to be part of a workable strategy in shifting to clean energy, in order for the Philippines to meet its commitment to the goals of the Paris Agreement.

“Until when will the coal moratorium be? How can other technologies fill in the gap left by coal and how do we ensure that power cost will not increase while ensuring continuous supply?” Mr. Gatchalian said.

He said that it is “uncertain” whether the moratorium issued by the Energy department “is in the context of a larger energy transition plan and what the higher targets are for Renewable Energy (RE) and alternative fuels within a specific timeframe.”

“Investing in renewable energy is the win-win solution for sustained economic growth. We can have cleaner air at a much cheaper price and RE investments can bring in lots of job opportunities especially since many of our (countrymen) lost their jobs during this pandemic,” he added.

The Department of Energy (DoE) in October declared a moratorium on new coal power plant projects to effect a shift to a “more flexible” power supply mix while building a more “sustainable power system.”

Mr. Gatchalian cited a study by Fitch Solutions which projected that coal-fired power generation will account for 59% of the energy mix by 2029.

If the projection is borne out, it would represent an increased share from 54.59% in 2019 and more than double the share in 2009, which was 26.6%, he said. Renewable energy’s share in the power generation mix fell to 20.79% in 2019 from 32.6% in 2009.

“There’s a need to look into the country’s energy transition plan, or lack thereof, in aid of legislation, with the end view of developing and ensuring an equitable, secure and sustainable energy transition,” he said.

Mr. Gatchalian said Philippine greenhouse gas emissions rose 5.4% in 2019 to 130 million tons of carbon dioxide equivalent. — Vann Marlo M. Villegas

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Get the daily email that makes reading the news actually enjoyable. Stay informed and entertained, for free.
Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

Latest

Economy

LIMA — Dina Boluarte became Peru’s first female president on Wednesday amid a political maelstrom when her predecessor and former boss Pedro Castillo was...

Economy

TOKYO — Japan’s economy, the world’s third-largest, shrank less than initially estimated in the third quarter, bolstering a view that it is slowly recovering...

Economy

WASHINGTON — US Securities and Exchange Commission (SEC) Chair Gary Gensler said that companies that help facilitate transactions in the cryptocurrency market should come...

Economy

Twitter owner and Tesla boss Elon Musk briefly lost his title as the world’s richest person on Wednesday, according to Forbes, following a steep...

Economy

BERLIN — The founder of Russia’s only LGBTQ+ museum said he was forced to close its doors on Wednesday after President Vladimir Putin signed...

Economy

Philippine lawmakers are looking to tap central bank profits to seed a proposed sovereign wealth fund, after an earlier plan to use pension funds...

You May Also Like

Investing

The minute that any question pops into your head, you can simply ask Google. No longer do we have to pour over books and...

Investing

Having a good Instagram marketing agency to back up your Instagram account is an absolute must going into the new year. With competition stronger...

Investing

Browsing history makes referring to sites and pages you’ve visited in the past seamless. It’ll help you recall what page you checked out on...

Investing

Insomnia is the most common sleep disorder in the global population. Therefore, it is a problem that many people suffer or have suffered throughout...

Disclaimer: SmartRetirementReport.com, its managers, its employees, and assigns (collectively "The Company") do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2021 SmartRetirementReport. All Rights Reserved.