October 28, 2020 Read More →

Philippine moratorium could cut off 10GW of coal in pipeline

Eco-Business:

The Philippine government will no longer approve applications for the new construction of coal-fired power plants, the country’s energy chief Alfonso Cusi announced on Tuesday (27 October).

The moratorium is based on a recent review of the country’s energy requirements, which sought a “resilient and flexible” power mix amid the Covid-19 pandemic, Cusi, the Philippines’ energy secretary, said at a conference that was part the 13th Singapore International Energy Week.

Sara Ahmed, energy finance analyst of the Institute for Energy Economics and Financial Analysis (IEEFA), welcomed the development, citing how “outdated technologies should no longer be used”.

“This is a clear policy signal to modernise our power sector and also for imported coal plants to take a backseat, and rightfully so, amidst lower-cost domestic options for renewables,” Ahmed told Eco-Business.

“It’s clear that the department of energy is pushing for cost-competitiveness to deliver lower prices to consumers and industry and more domestic energy security.” 

[Hannah Alcoseba Fernandez]

More: Philippines announces moratorium on new coal power

Posted in: IEEFA In the News

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