PE2 supports BOI ManCom review of EE guidelines
MAKATI CITY, 2 December 2019 – The Philippine Energy Efficiency Alliance (PE2) provided energy efficiency expertise earlier today to support a regular meeting of the Management Committee (ManCom) of the Board of Investments (BOI) specifically to review and endorse amended Energy Efficiency (EE) Guidelines under the 2017 Investments Priorities Plan (IPP).
PE2 president Alexander Ablaza was invited by BOI ManCom, through the BOI Resource-Based Industries Service headed by Director Nestor P. Arcansalin, to share industry views and global EE expertise in identifying gaps in the previously approved EE Guidelines, and how they could be made more responsive to the country’s need to mobilize P 12 trillion in energy efficiency capital toward the government’s 2040 EE roadmap targets.
Among the more salient recommendations presented by Ablaza were: [a] Owing largely to a global urgency to scale-up EE as a first fuel of energy markets, BOI is now armed with enough justification to grant pioneer status to all EE project registrations; [b] global definitions of EE projects, especially those adopted by the IFC/World Bank Group, provides a minimum 15% energy savings threshold, which could be likewise incorporated in the EE Guidelines; and, [c] third-party investors will need to be qualified as BOI proponents as they will have to be positioned to enable off-balance sheet equity flows to ESCO-implemented projects.
Ablaza thanked the BOI ManCom for inviting PE2 to be a resource partner as BOI reviews and amends the EE Guidelines. “PE2 is pleased with the timing of BOI’s review of the EE Guidelines as it almost succeeds DOE’s approval of the implementing rules and regulations of the Energy Efficiency and Conservation Act just over a week ago,” Ablaza said.
