AS part of the celebration of the National Energy Consciousness Month (NECM), the Department of Energy-Investment Promotion Office (DOE-IPO) held last December 6 the final leg of a series of investment forums this year at the Makati Shangri-La Hotel Makati City
Energy Secretary Alfonso Cusi explained that the Energy Investment Forum is an opportunity to share with partners and stakeholders updates on DOE’s undertakings, including policy directions and investment opportunities in the energy sector.
“We are supporting the advancement of the Philippines’ national social and economic agenda, by undertaking policy and market reforms complemented by an active stewardship of the public interest in the country’s energy resources and industries,” Cusi said.
In his presentation, the DOE chief discussed the current situation and investment opportunities in the power sector– upstream and downstream oil and gas, coal, coal alternatives, renewables and biofuels–and energy efficiency and conservation.
He highlighted the Energy department’s efforts in crafting a comprehensive and responsive energy mix policy to support and sustain the growing economy while also guiding energy developers on the business environment.
In the power sector, for instance, Cusi mentioned about having to classify power plants into baseload (running on 24/7 basis), mid-merit (running on long hours but not 24/7) and peaking (with easy start-up and can be used during peak hours). In this regard, power developers can compete with one another accordingly and can picture the situation in each of the main grids for the kinds of investment needed.
“The DOE envisions to create wealth for our nation and [bring]happiness to every Filipino,” he said.
“The Philippine energy sector offers a number of investment opportunities, especially [now]that incentives, sound policy mechanism and regulatory framework are in place,” Cusi added.
The DOE-IPO has been holding Energy Investment Forums for 12 years now.
Meanwhile, the NECM, an annual month-long celebration in accordance with Proclamation 1427 spearheaded by the DOE, aims to increase public awareness on energy-related activities and programs while strengthening the government’s policy on energy.