PE2 briefs DTI foreign trade frontliners on EE investment needs of PH
MAKATI CITY, 4 December 2024 – The Philippine Energy Efficiency Alliance (PE2) served as a market resource to bring energy efficiency investment understanding to various trade representatives or commercial attaches representing the commercial posts around the world of the Department of Trade and Industry (DTI) through its Foreign Trade Service Corps (FTSC) during the DTI-FTSC 2025 Planning Workshop session for the energy sector.
DTI Usec. Ceferino Rodolfo invited PE2 president Alexander Ablaza to join energy sector experts, Atty Jose Layug Jr., president of the Developers of Renewable Energy for AdvanceMent (DREAM), Co-chair of the ECCP Renewable Energy and Energy Efficiency Committee and Senior Partner of Divina Law offices, Oliver Butalid, President and CEO of PNOC, Eduardo Francisco, EVP of BDO Capital and Investment Corporation, Kuan Yan of Mingyang Smart Energy Group and Clarita de Jesus of the DOE Renewable Energy Management Division (REMB) in a panel discussion to define the country’s investment opportunities in the priority sectors of renewable energy (RE) and energy efficiency (EE). DTI Senior Trade Representative Glenn Peñaranda served as moderator of the energy panel.
Ablaza highlighted the fact that the Philippine Energy Plan 2023-2050 now features clean energy scenarios which incorporates decarbonization impacts of scaled-up EE and RE deployment. He shared with the trade representatives and commercial counsellors that PE2 sees an EE investment gap of USD 243 billion to be able to shave off 182 Mtoe in final energy consumption through 2040.
The PE2 head underscored the enabling policy environment provided by RA 11285, which removes foreign ownership restrictions for EE investments and energy service companies (ESCOs) as well as sets inclusive consumption thresholds to capture smaller designated establishments with energy management obligations. This law is bolstered by the recently enacted RA 12066, which provides for expanded fiscal incentives for domestic market activities such as EE projects, and RA 12009, which enables life-cycle cost-based procurement modalities that favors more efficient technologies, solutions and services.
The DTI-FTSC strategic planning conference was organized to strengthen regional strategic initiatives between posts to promote collaboration and synergy. It was also intended to bolster collaboration and partnerships between FTSC, stakeholders, and partner agencies and align FTSC's strategies with current global developments, partner agency’s priorities and plans and organizational changes within the DTI. The workshop was designed to gather insights and develop a comprehensive action plan for enhancing FTSC's programs, initiatives, and partner agency support in 2025.
