Solon files bill creating Philippine Renewable Energy Corp.

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Cagayan de Oro 2nd district Representative Rufus Rodriguez is pushing for the establishment of the Philippine Renewable Energy Corp. (PREC) to focus on the development of renewable energy (RE) sources in the country. 

Filing House Bill (HB) No. 4205, Rodriguez said that Congress must put measures in place to ensure stable, affordable, and reliable power supply in order to sustain economic growth and improve the nation’s well-being. 

“It is imperative for the government to take a more active role in assuring adequate supply of electricity with the use of renewable energy sources, thereby reducing the country’s dependence on imported fossil fuels and mitigating the impact of climate change,” Rodriguez said in a statement. 

The bill mandates a Php7 billion inclusion in the national budget as an initial appropriation of the PREC. 

Energy Secretary Raphael Lotilla earlier said that there are concerns on power supply for the upcoming summer months of 2023. He said the DOE will be reviewing the country’s power outlook for next year 

“Accelerating existing (RE) projects and finding new sources will eventually boost supply,” The congressman said. 

HB 4205 would also abolish the Philippine National Corp. – Renewables Corp. (PNOC-RC) and would transfer its power, functions, projects, as well as investments, funds, properties and other assets, and personnel to the PREC. 

If passed, the PREC will inherit the Agus-Pulangi Hydroelectric Power Plant complex and its facilities, which is currently being operated and maintained by the National Power Corp. Along with the passing of the bill is the exemption of the complex from privatization.