The Department of Energy (DOE) is pushing for the allocation of P2 billion annually starting 2026 to energy efficiency and conservation (EEC) projects under the Government Energy Management Program (GEMP).
The DOE said a financing program is being arranged with the Department of Finance (DOF).
“We have the strategies in place so what we’re working on is the financing. We’re trying to come up with a facility through the DOF in collaborating with our development partners. We are looking at around P2 billion expense a year starting 2026 (for five years,)” said DOE Undersecretary Felix William Fuentebella at the sidelines of a forum hosted by the European Chamber of Commerce of the Philippines in Makati City yesterday.
Fuentebella said the DOE has had initial talks with the Asian Development Bank.
The DOE said the funding will likely be a combination of concessional official development assistance and other funding sources.
At the GEMP Summit last month, representatives from the public sector gathered to address challenges and seize the opportunities in implementing energy efficiency activities in the country.
The event highlighted best practices in energy efficiency applicable to the government, processes for formulating EEC plans for local government units and other entities and the future of regional cooperation in EEC initiatives across the Philippines.
The GEMP aims to reduce government-wide electricity and fuel consumption by at least 10 percent through strategic energy efficiency and conservation measures.
DOE said in the first quarter of 2024 alone, the government has saved around 31 gigawatt hours in electricity usage equivalent to nearly P365 million in cost savings while over half a billion liters of fuel have been conserved, resulting in almost P35 million in savings.
The agency added deploying strategies to enhance energy efficiency in government buildings and facilities is also expected to lead to substantial savings for the government while also creating new jobs and reducing carbon emissions.
