Spot market regulator calls for more RE to minimize power outages
A MORE diverse power mix featuring an increased share of renewable energy (RE) will ensure the stability of the power supply, the governing body of the Wholesale Electricity Spot Market (WESM) said.
At the Philippine Solar PV Energy Virtual Summit last week, Leonido J. Pulido III, the president of the Philippine Electricity Market Corp. (PEMC), said the Philippines cannot continue to rely on conventional generators which are subject to periodic breakdown or maintenance periods.
Conventional power generators are fired by fuel oil, coal, and natural gas.
“We have to look into other sources to augment our supply… through the increased penetration of renewable (RE) sources,” he said.
“Institutionalizing effective strategies is imperative for us to fully harness the benefits of these RE resources, which include energy prices and supply stability to power up the Philippine economy in the new normal,” he said.
PEMC has partnered with the United Nations Office for Project Services to help implement the energy transition roadmap and introduce market mechanisms to boost the RE market.
During a virtual economic briefing hosted by the Philippine Embassy in Washington on Feb. 24, Energy Secretary Alfonso G. Cusi said the Philippine Energy Plan 2020-2040, which outlines the strategy for a clean energy transition, “opens up vibrant investment prospects” that have been further enhanced by “bold policies to increase the interest and participation of domestic and international investors.”
Mr. Cusi also expressed the government’s interest in alternative energy sources and technologies like modular reactors, hydrogen, and electric vehicles for transport.
The Philippines is expected to add capacity of 7,910.96 megawatts by 2027, with coal-fired plants accounting for 46.68%, natural gas 38.71%, renewable energy 11.39%, and facilities fueled by oil 6.67%, according to DoE data on committed projects from last year.
In 2020, the power mix consisted of 57% coal-fired, 21% RE, 19% natural gas, and 2% oil. — Marielle C. Lucenio
