MANILA, Philippines - The Department
of Energy (DOE) is set to come out with a policy requiring distribution
utilities to source electricity from renewable energy (RE) power generators,
aimed to spur further investments in the sector in the first quarter of next
year.
The agency is currently going over
details of the Renewable Portfolio Standards (RPS), DOE secretary Zenaida
Monsada said.
These details include percentage of
RE supply that would be bought from generators and distribution cost.
As for the cost, Monsada said,
generation companies already submitted a draft proposal to former DOE secretary
Jericho Petilla.
“We’re still looking at what that
percentage is and how to implement the RPS. The DOE will draft the rules but
there will still be public consultations,” Monsada said.
Monsada said a circular for the RPS
is targeted for release by the first quarter of 2016.
As defined under the Renewable
Energy Law of 2008, the RPS refers to a market-based policy that requires
electricity suppliers to source an agreed portion of their energy supply from
eligible RE sources.
The purpose of the RPS is to
contribute to the growth of the renewable energy industry by diversifying
energy supply and help address environmental concerns of the country by
reducing greenhouse gas emissions.
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