The Department of Energy (DOE) released yesterday the drafted rules on the renewable portfolio standards (RPS), which orders power industry players to produce a part of their supply from renewable energy (RE) sources.
These RE sources include biomass, wind, solar, geothermal and ocean energy, both run-of-river and impounding hydropower sources, waste-to-energy technology, and hybrid systems.
The draft circular published on their website covers power industry participants including distribution utilities (DUs), licensed retail electricity suppliers (RES) including local ones, and suppliers of last resort (SOLR).
It aims to contribute to the growing RE industry, call for socioeconomic progress in rural areas and come up with solutions for environmental concerns.
The government agency is currently gathering comments from industry stakeholders. Conformity to the rules is compulsory once a renewable energy market (REM) is set up.
The REM will “facilitate the issuance, commercialization and verify compliance with the annual RPS requirement.”
The DOE and NREB will coordinate to set a target for the RE generation, and will meet with stakeholders every two years.
A team made up of the representatives of the Electric Power Industry Management Bureau, the Legal Services and Energy Police and Planning Bureau, the National Renewable Energy Board (NREB) chairman, and the Renewable Energy Management Bureau will execute the provisions under the RPS.
