DOE to develop indigenous energy sources

DOE-RE

The Department of Energy (DOE) is set to prioritize the development of the country’s indigenous energy sources to ensure sufficient, reliable, and affordable energy supply. 

In the post-State of the Nation Address (SONA) briefing, Energy Secretary Raphael Lotilla said that Pres. Ferdinand “Bongbong” Marcos Jr. has directed DOE to address the uncertainties in upstream investments in order to mobilize the natural gas around the Malampaya gas field. 

The newly appointed energy secretary added that they are working on electrifying more than 1 million households that remain unserved in the country. 

During his SONA, Marcos Jr. stressed the need to build new power plants, especially renewable energy ones, to address the growing power demand of the country. 

“We will do that through a number of measures: one, through executive action, to clarify the policy; second, in order to stabilize the investment regime, to have the clarification by Congress as well,” Lotilla said. 

Marasigan said there are several issues that need to be resolved by DOE in order to attract investors in the renewable energy sector, including foreign ownership in exploration and development projects. 

Earlier, the American Chamber of Commerce of the Philippines (AMCHAN) asked the government to lift the foreign ownership limit in RE projects to attract more capital flow. 

Marasigan said that the DOE must ensure that the RE market provides a conducive environment to strengthen the distribution sector and ensure timely and appropriate conduct of competitive selection processes. 



There are no comments

Add yours