Energy players seek ₱55-billion share

Updated May 5, 2020, 8:51 AM By Myrna M. Velasco
https://business.mb.com.ph/2020/05/04/energy-players-seek-%e2%82%b155-billion-share/

Industry players and companies advancing energy efficiency (EE) ventures in the country are batting for US$1.1 billion or ₱55-billion inclusion in the economic recovery stimulus package that shall be specifically funneled to EE initiatives and investments.

This was formally proposed by the Philippine Energy Efficiency Alliance (PE2) to the House body chaired by Albay Representative Joey Salceda, which is spearheading deliberations of the proposed Economic Stimulus Response Package (ESRP) cluster of the Defeat COVID-19 special committee in Congress.

In the PE2-submitted recommendation to Congress, it stipulated that the two government financial institutions – the Development Bank of the Philippines and the Land Bank of the Philippines – shall offer loans at concessional interest rates to micro, small and medium enterprises (MSME) and the local government units (LGUs) “for the development of energy efficiency projects as improvements in the facilities of the MSMEs and LGUs.”

The group similarly pushed for the development of government energy efficiency projects, such as in public buildings and facilities, as prescribed under Republic Act 11285 or the Energy Efficiency and Conservation Act.

Latching on such proposals, the PE2 further sought the Department of Energy’s support on its recom-mendation to the Congressional oversight committee for the energy efficiency components to be integrated in the country’s “Build, Build, Build” program.

PE2 President Alexander Ablaza indicated that their proposal for stimulus package inclusion of EE projects and undertakings had been anchored on a report recently is¬sued by global think tank International Energy Agency (IEA), which sets guideposts for policymakers on strategic considerations they must sort out in crafting economic recovery stimulus policies and frameworks.

“PE2 fully supports the IEA recommendation that governments include energy efficiency as a major pillar of proposed economic stimulus packages as countries plan their recovery pathways from the COVID-19 impacts,” the group said.

PE2 added its advocated package had been framed on “cost effectivity, job generating impacts, speed of implementation, and the market readiness of energy efficiency as economic stimulus compared to other infrastructure development and other economic activities eyed in the stimulus strategy.”

The three lawmakers – Salceda and Representatives Stella Quimbo and Sharon Garin, who are working on the ESRP proposed bills noted that the government will need to act with dispatch on the measure to institute a reinforced economic response program to mitigate the impact of COVID-19.

They have been soliciting inputs from affected sectors and industries, so these could be correspondingly amalgamated into the ESRP legislation process.