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Renewable energy could cut electricity rates by 30% — report

renewable-energy-091919

HEAVY RELIANCE on imported fossil fuels, high financing costs and uncompetitive market structures have contributed to make electricity prices in the Philippines among the highest in Southeast Asia, according to a report of a global research institute.

“If renewables enter the market, they have the potential to cut wholesale power prices by 30% and could dramatically change the structure of the market,” the Institute for Energy Economics and Financial Analysis (IEEFA) said in a report released on Wednesday.

The report by Sara Jane Ahmed, energy finance analyst at the institute, cited these as among the three key trends in understanding the current outlook of the Philippine power sector and how its prospects have improved for the country’s energy transition.

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Posted by on Sep 19 2019. Filed under Renewable energy. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

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