BIZ BUZZ: Power firm to RE advocates: Hang tight!
Just like how slow brew beats instant coffee in terms of quality, good energy takes time, a power player told advocates.
An official from Aboitiz Power Corp. shot down claims about the sector’s poor performance in supporting the clean energy transition.
“They say [to us]: accelerate the renewables…[You’re] not doing enough, therefore, that’s why you’re trying to actually continue with your coal power plants, with your fossil fuels, because there are not enough renewables,” said Aboitiz Power Corp. chief engineering and project officer Don Paulino.
“But that’s not really true,” he added on Friday at the Economic Journalists Association of the Philippines forum, which gathered government officials and other investors in the energy space.
Aside from the massive money needed to erect renewable projects, Paulino also pointed out the rising demand for liquefied natural gas (LNG), particularly for gas turbines. LNG has been seen as a suitable transition fuel source for many countries, including the Philippines.
And of course, with the high demand, elevated prices come next.
“Yes, we want the cleaner version… but the reality in the Philippines is that a few cents increase actually affects the Filipino,” he said.
“I think the pay should be dictated by what the economy can afford,” the official said.
