Renewable energy board wants govt to impose carbon tax

Manila Standard Today
Thursday, 19 April, 2012 Written by Julito G. Rada

The National Renewable Energy Board has proposed a carbon tax on coal, diesel and bunker fuel to cut greenhouse gas emissions and encourage investments in renewable energy.

NREB chairman Pete Maniego said during the 2^nd Philippine Renewable Energy Summit the government may consider following the lead of other countries that have already slapped carbon tax.

Maniego said the government could study carbon tax on imported coal used by power generation facilities in the country today.

He said coal imports hit 10,965,818 metric tons in 2011 while local production reached 7,611,333 MT.

“If the $1 per MT carbon tax is imposed on coal imports, $10.965 million or P469 million could be raised,” he said.

Maniego also asked the Energy Regulatory Commission to approve the feed-in tariff as soon as possible because renewable energy projects could not proceed without those incentives.

“We are hoping that the FIT will be approved by end June. Most projects are in limbo. They are all waiting for the FIT,” he said.

The tariff guarantees the developers a fixed rate for renewable energy over a 20-year period.

“Some of the investors have left already. What I am saying is the more we delay the FIT, the more people will lose interest,” he said.

The summit was attended by different stakeholders from policy and key decision-makers from both the public and private sectors, investors, financial experts, scientists and innovators and industry professionals.

(Published in the Manila Standard Today newspaper on /2012/April/20) article source