PE2 pushes specific IRRs on ESCO, PPP and incentive guidelines during DOE’s 2nd stakeholder meeting

  • PE2 pushes specific IRRs on ESCO, PPP and incentive guidelines during DOE’s 2nd stakeholder meeting
    Left Photo: BIR OIC Asst. Chief Eric O. Manese, PE2 president Alexander Ablaza, BOI-RBIS Director Nestor P. Arcansalin, and DOE-EUMB Director Patrick T. Aquino chat on the sidelines of DOE’s 2nd Inter-Agency and Stakeholders Meeting on the IRR of the EE&C Act. Right photo: Ablaza shares the PE2 position on fiscal incentives. (PE2 photos by Luigi Eusebio)

TAGUIG CITY, 14 August 2019 – Representatives of the Policy Committee of the Philippine Energy Efficiency Alliance (PE2) participated in the Department of Energy (DOE) Second Inter-Agency and Stakeholder Meeting on the Development of Implementing Rules and Regulations of the Energy Efficiency and Conservation (EE&C) Act (RA 11285) held earlier today at the Marquis Events Place. PE2 was able to articulate its recommendations to add more specific language in the IRR on ESCO performance contracting and public-private partnership transactions as explicitly listed financing modalities of public sector EE&C projects. The Alliance was also able to re-iterate its officially submitted position that portfolio investors will need predictability of equity returns from long-term capital investments in multiple EE&C projects, and this can only be achieved if the BOI-approved guidelines were incorporated in the IRR. PE2 explained that the IRR should be a policy instrument that would eventually be able to attract capital commitments from both local and foreign investors to this new energy sector asset class. The Alliance also aired its hopes that the IRR does not introduce an additional approval layer in the grant of fiscal incentive beyond what Section 25 of the EE&C Act currently provides.

The PE2 team was composed of president Alexander Ablaza and PE2 policy committee members Bienvenido C. Gonzales, Raymond A. Marquez, Richard A. Uy, Mark Anthony T. Delumen and Danilo B. Aquillo, and supported by Luigi G. Eusebio of the PE2 secretariat.

This 2nd Inter-Agency and Stakeholder Meeting concludes the IRR development phase before the IRR is released through public consultations as early as late-August 2019.

On the sidelines of the consultative meeting, PE2 was able to chat briefly with key representatives of DOE-EUMB, BOI and BIR on the issue of processing of BOI-administered incentives.

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Philippine Energy Efficiency Alliance Inc. (PE2), is a non-stock, non-profit organization of energy efficiency market stakeholders.

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Republic Act 11285

R.A. 11285 - An Act Institutionalizing Energy Efficiency and Conservation, Enhancing the Efficient Use of Energy, and Granting Incentives to Energy Efficiency and Conservation Projects

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