PE2 reaches out to electrical engineers for EE&C law and ESCO model
PASAY CITY, 29 November 2019 – The Philippine Energy Efficiency Alliance (PE2) delivered earlier today a detailed presentation on the new Energy Efficiency and Conservation (EE&C) Act and the energy service company (ESCO) business model, as it reaches out to an estimated 3,000 electrical engineers of the Institute of Integrated Electrical Engineers of the Philippines, Inc. (IIEE) during its 44th Annual National Convention at the SMX Convention Center, Mall of Asia Complex.
PE2 president Alexander Ablaza said that 29 years of voluntary energy efficiency market regime drew to a close when the President signed Republic Act 11285 on 12 April 2019. The Philippines finally rejoined the growing number of jurisdictions (such as the rest of Southeast Asia) with a comprehensive energy efficiency law and attached fiscal incentives intended to accelerate capital flows, investment decisions and technology deployment across all energy end-use sectors of the local economy. The PE2 presentation gave a brief legislative history of the policy measure and ran through the six basic components of the Act – government, certification, energy performance standards & labeling, designated establishments, incentives and other features (such as penalties).
Ablaza also outlined the various energy efficiency financing options, which include self-financed, debt-financed, lease-financed and off-balance sheet capital flows such as ESCO performance contracting, public-private partnership transactions and large-scale Government-led retrofit programs.
The PE2 talk was part of the event’s green building track entitled, “A Green and Efficient Journey.”
IIEE, the only professional organization accredited by the Professional Regulation Commission for electrical practitioners in the country, organized its 44th Annual National Convention and 3E XPO with the theme: “Distinctive Journey on Advancing Global Competitiveness” which was held at the SMX Convention Center, Mall of Asia Complex, from 26-30 November 2019. IIEE estimated that around 6,000 delegates from all IIEE chapters nationwide attended the annual national convention to be updated on current trends in the electrical profession and its allied fields.
