Power producers in the country are seeking improvement in policies to encourage additional investments in the power generation sector.
In a report by the Philippine Star, Philippine Independent Power Producers Association Inc. (PIPPA) president Anne Estorco Montelibano said that they want to see proper regulation and policies that will reflect the true business of the industry.
Montelibano said that regulators are very specific on cost and focus on the price of electricity and what is being passed on to consumers instead of its impact on investors and power generators.
She stressed that in an effort to cushion the effect, “they put it on our side, which is an unhealthy way of thinking about it because we are not really delving into the actual problem, which is that there are no generators that are willing to continuously invest.”
If this situation persists, Montelibano said that there would be no players in the market that could help create a healthier mix of power resources, which in turn could result in lower electricity prices.
Montelibano said that passing on costs to investors is a band-aid solution and that there is a need to examine policies that would encourage investment. “We have been – I’m speaking for power generators – shouldering most of the cost already.”
Department of Energy Secretary Raphael Lotilla, meanwhile, is pushing for investments in research and development for renewable energy, saying that innovation in the sector is key to the country’s energy transition.
Lotilla said that with technology and innovation, the country can develop a cleaner and greener energy system that will help mitigate the effects of climate change and “contribute to preserving our planet for future generations.”
