Energy to remain affordable amid transition to renewable sources —DOE

The Department of Energy (DOE) said the cost of electricity will still be affordable as the country plans a shift towards renewable energy (RE) sources.

“We are anticipating a shift in our power generation mix, again from one that is coal-centered, to one where renewable energy, natural gas, and other emerging sustainable energy technologies make up two-thirds of our total generation by year 2040,” Energy Secretary Alfonso Cusi said in an online forum organized by the Philippine Energy Independence Council (PEIC) and European Chamber of Commerce of the Philippines (ECCP), Energy

For his part, Energy Undersecretary Jesus Posadas said that the DOE is strictly mandating a competitive selection process in determining which firms or entities will be allowed to explore and develop the country’s RE resources.

A competitive selection process will ensure that the cost of power will remain affordable.

Early this month, the DOE kicked off the beginning of the third Open and Competitive Selection Process (OCSP3) in a bid to accelerate the development of renewable energy in the country. 

Under the OCSP3, the Energy department said a total of 22 predetermined areas (PDAs) covering potential geothermal and hydropower resources have been identified and were presented to the various stakeholders during the launch.

The said PDAs consist of 17 potential hydro projects and five geothermal projects which have a total potential capacity of about 150 megawatts (MW) and will be offered to qualified RE developers.

In October last year, the Energy department confirmed that 100% foreign ownership in large-scale geothermal exploration, development, and utilization projects is now permitted, as it issued a moratorium on the endorsement for new coal power plants. — BM, GMA News