Thursday, July 27, 2017

NREB seeks DOE go-signal for renewable energy fund

 (The Philippine Star) |

MANILA, Philippines -  The National Renewable Energy Board (NREB) is seeking the go-signal from the Department of Energy (DOE) to collect contributions from government institutions for a special account aimed to advance renewable energy use in the country.
The Renewable Energy Act of 2008 calls for the establishment of the Renewable Energy Trust Fund to enhance the development and greater utilization of renewable energy.
But since the law was enacted, the rules for the RETF have not been crafted since the DOE has come out with a department circular for it, NREB chairman Jose Layug said.
“If you collate all the funds, that should serve as fund for the DOE to utilize for RE systems, RE programs. That one is provided by law, we should be collected from agencies. Until now, we haven’t collected,” he said.
Under the law, the DOE should have formulated the guidelines to ensure the competitive and transparent utilization of the RETF.
A mechanism — formed by the DOE, Department of Environment and Natural Resources (DENR), Department of Budget and Management (DBM), Philippine Charity Sweepstakes Office (PCSO) and Philippine Amusement and Gaming Corp. (Pagcor) — should have also been in place for the transmittal of the fund to the DOE.
Sources of the fund inclu de proceeds from the emission fees collected from all generating facilities consistent with Republic Act 8749 or the Clean Air Act.
This also includes 1.5 percent of the net annual income of the PCSO; 1.5 percent of the net annual income of Pagcor; 1.5 percent of the net annual dividends remitted to the National Treasury of the Philippine National Oil Co. and its subsidiaries; and 1.5 percent of the proceeds of the government share collected from the development and use of indigenous non-RE resources.
It can also come from contributions, grants and donations net of tax, any revenue generated from the utilization of the RETF and proceeds from fines and penalties imposed under the RE Law.
The fund will be used mostly for research, development, demonstration and promotion of RE.
Once the DOE comes out with the rules, NREB will start discussions with the agencies for the RETF, Layug said.
“The DOE needs to sign the RETF rules… Once signed, then I will talk to all agencies to allot and allocate the money,” he said. “(Collection will be) retroactive from the time of the law, since it took effect in 2009.”

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