DOE launches RE market system

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    The Department of Energy (DOE) yesterday launched the Philippine Renewable Energy Market System (PREMS) that will track, monitor and assess implementation and compliance to the Renewable Portfolio Standards (RPS) rules for both on-grid and off-grid areas.

    This will further encourage investors in the field of RE as the RPS requires distribution utilities to source a certain percentage of their supply from renewable sources, the DOE said.

    “The creation of the PREMS highlights the prospects of the country in empowering the Filipino to venture further into the modern trends that include smart metering, micro grids, block chain utilization, and the global movement towards sustainable energy technologies,” Alfonso Cusi, energy secretary, said in a statement.

    “With the Department of Energy’s recent promulgation of the Renewable Energy Market Rules, as well as the RPS, we anticipate greater transformations of Filipinos towards a greener energy environment,” he added.

    Cusi said PREMS, as an online enterprise platform, will facilitate market competitiveness, efficiency and transparency in the trading of RE certificates, as an RE registrar will come online on the first day of 2020 to ensure industry participants comply with RPS requirements and other policy mechanisms.

    “The PREMS will provide strong partnerships among players with varying interests. The participation of industry players and consumers will allow synergies that will build a secure, self-sufficient, and sustainable energy future for our next generations,” he said.

    Meanwhile, several environmental groups said the government should adhere to President Duterte’s call in his last State of the Nation Address for more clean energy sources, by reviewing existing policies that enable the dominance of energy sourced from coal-fired power projects.

    “Based on the report released by IPCC late last year, we are entering the last decade there is left to avert even more catastrophic climate change. This is the time when we must be radically changing the way we power society,” said Aaron Pedrosa, co-chair of the Energy Working Group of the Philippine Movement for Climate Justice.

    Gerry Arances, convenor of the Power for People Coalition, for his part said as the country is among the most vulnerable to climate disasters, all corporations, financial institutions and government bodies must be more supportive of advancements in the field of RE.