PNoy to businessmen: Nothing to fear of additional authority

MANILA, Philippines—President Benigno Aquino III guaranteed concerned businessmen on Tuesday that his request for additional power will only be used in the country’s emerging energy problems.

“I am aware that investors in the energy sector are worried about these measures distorting the market, but let me assure you: Government intervention is meant only to address the shortage,” the President said during the Energy Smart Philippines 2014.

President Aquino clarified that the sole goal of this initiative is to make sure our economy does not lose its momentum in the event of an energy shortage.Aquino reiterated that the energy sector was a key component in the country’s growth.

Carlos Jericho Petilla, Department of Energy Secretary, told Congress they expect a shortage of around 300 megawatts to 800 megawatts.

“Such a situation necessitates steps to ensure energy supply if a shortfall does arise, which is why we have asked Congress for a joint resolution authorizing the national government to contract additional generating capacity,” President Aquino said.

Aquino said the Philippines aim to further lower its carbon emissions as a developing country seeking to bolster its industrialization.

“We are looking to incentivize the entry of around 450 more megawatts of solar power, with the Department of Energy (DOE) endorsing to the Energy Regulatory Commission the expansion of the installation target for solar power under the Feed-in-Tariff System,” he said.

Other programs of the government was to involved the distribution of compact fluorescent lamps, E-jeepney that has been test run from SM North Edsa to Katipunan and the promotion of e-tricycles which is being launch by the DOE.

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