THE Energy Regulatory Commission (ERC) assured the public it is implementing its mandate to promote competition and ensure a fair market in the energy sector to protect Filipino consumers from price shocks amid the volatility in electricity prices.
ERC chair Monalisa Dimalanta, in a forum on Thursday, March 16, said while the Department of Energy (DOE) is improving the countryâs power supply, ERC is also closely monitoring market developments that may push power rates higher.
Dimalanta said the country still benefits from the output of the Malampaya natural gas field, an energy source indigenous to the Philippines, with no additional import costs, such as duties and excise taxes, among others, compared to outsourced fuel.
With the service contract for Malampaya expiring in 2024, the DOE is looking at liquefied natural gas (LNG) terminal projects to sustain power supply.
However, since these terminals will store imported LNG, Dimalanta said consumers will be exposed to volatile global prices.
Dimalanta encouraged Filipinos to save and be efficient in their electricity use to manage energy demand.
As prices of commodities rise when demand increases amid limited supply, not saving on electricity can trigger hikes in power rates.
âWe need to promote energy efficiency measures, change in behavior. We need to make sure that we only consume energy that we really need,â she added.
Meanwhile, former Energy secretary Jericho Petilla on Wednesday proposed the government should build its own power plant with a capacity of 500 megawatts that will be used only when there is thinning of supply from private sectorâs power generation facilities.
DOE assistant secretary Mario Marasigan said on Thursday the agency is reviewing this proposal as this will require amendments to the Electric Power Industry Reform Act, which privatized the power sector. (PNA)/PN
