Cost vs. Lotilla could drive investors away, says PCCI

The Philippine Chamber of Commerce and Industry (PCCI) said it is concerned about the broader damage that could result from the allegations against Energy Secretary Raphael PM Lotilla, which threaten the momentum building in the development of the energy industry.

“We compete with other countries in the region in enticing foreign direct investment (FDI) to come to our shores; let us not create an atmosphere of uncertainty that could deter these investments,” the PCCI said in a statement on Monday.

“We recognize the excellent work that Mr. Lotilla is doing. We support the direction he is taking to achieve energy security and affordability for the country, the two key components to attract investments, expand domestic businesses and increase our productivity and competitiveness,” it added.

Criminal and administrative complaints were filed by the Power for People Coalition (P4P) against Mr. Lotilla for endorsing the expansion of Therma Visayas, Inc. Unit 3 in Cebu, owned by Aboitiz.

In a statement last month, P4P said Mr Lotilla’s approval of the project violates the moratorium on green coal.fired energy projects announced by the previous government.

The PCCI noted that the moratorium does not cover existing coal-fired power generation facilities, coal-fired power projects classified as committed, existing power plant complexes with robust expansion plans, or projects that have made significant progress.

“We endorse the holistic energy solution presented by the Department of Energy, where coal remains an important component for economic growth pending clean, reliable and affordable baseload technologies,” the report said.

“Given that the Philippines is not a major carbon emitter and that it is not a prosperous country, a more pragmatic approach to climate change should be emphasized, focusing our limited resources on climate adaptation. Let us avoid being distracted by Western policies that may be appropriate for their country’s context but not for ours,” it added.

The PCCI said the Philippines should learn from the power outages in Panay, the red and yellow warnings in the dry season and Typhoon Carina that downed power poles. It called for a focus on energy security to keep factories open and people working.

“Energy supply insecurity causes harm that can impact the lives of consumers and businesses and ultimately hinders our country’s resilience and progress,” the report said.

“In light of increasingly bad weather, we must also be careful to invest in the greater resilience of our energy systems, of which coal, gas and other technologies can give us greater security against high winds and heavy rainfall,” it added. — Justine Irish D. Table