US$19 billion needed for Philippine energy sector

Investments will go to projects that will ensure national energy security.

The Department of Energy said the investment would be US$1.3 billion for 2013; US$6.9 billion for 2014; US$6.3 billion in 2015 and US$4.5 billion in 2016.

Apart from ensuring national energy security, the investments are also aimed at climate-proofing the Philippine energy system; promoting a low-carbon future with the rollout of electric vehicles and the massive use of alternative fuels and adopting smart technologies.

For this year, DOE intends to provide electricity access to 9,860 households and 4,982 villages. The agency also wants to deploy 200 compressed natural gas-fed buses within the year and 20,000 electric tricycles.

Other DOE projects include the open access and retail competition expected to start full commercial operation on June 26; the rehabilitation of the Agus and Pulangi hydropower complex in Mindanao and the implementation of the Interim Mindanao Electricity Market that will allow power generators to sell their excess electricity.