August 31, 2024 | 12:00am
MANILA, Philippines — The government is securing P10 billion in financing to boost efforts to efficiently reduce electricity and fuel consumption amid growing demand, according to a senior energy official.
“We are looking at around P2 billion in expenses a year starting 2026 (for) five years,” Energy Undersecretary Felix William Fuentebella said on the sidelines of an energy forum organized by the European Chamber of Commerce of the Philippines.
Pursuant to Administrative Order 15, the Department of Energy (DOE) is leading the government energy management program (GEMP), which aims to fast-track the implementation of energy conservation efforts in government agencies.
While strategies for GEMP are already in place, Fuentebella said they are now working to gather enough funding for the program.
“So we’re trying to come up with a facility through the DOF (Department of Finance) in collaboration with our development partners,” he said.
While the DOE recently spoke with Asian Development Bank regarding the funding, it also expressed openness to meeting other potential partners.
Fuentebella said the multi billion-peso financing would consist of concessional loans and official development assistance, with the DOF determining the best “blend.”
Under the GEMP, government-wide electricity and fuel consumption are targeted to be reduced by at least 10 percent through strategic energy efficiency and conservation measures.
From January to March, the government yielded about P400 million in cost savings.
Electricity usage was lower by around 31 gigawatt hours during the period, equivalent to roughly P365 million in cost savings.
More than half a billion liters of fuel, meanwhile, were conserved, resulting in nearly P35 million in savings.
“Deploying strategies to enhance energy efficiency in government buildings and facilities could further lead to substantial savings for the government, creating new jobs, and reducing carbon emissions,” the DOE said.
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