The Philippine government saved at least $70 million worth of Energy Projects due to the Executive Order (EO) 30 signed by Pres. Duterte, which marked the critical investmens as "national significance" that will propel the power industry in the next few years as revealed by Energy Chief Alfonso Cusi.
Based upon the new policy of Pres. Duterte, it states that incoming energy proposals from local and foreign entities will be reviewed for approval in a 30-day time frame instead of the tedious three-year period.
During the Asian Cooperation Dialogue (ACD) briefind, Energy Secretary Alfonso Cusi was quoted as saying "This will change the way we process our energy projects. No longer will take up to three year for an agency to respond to a proposal for the project. Instead, these agencies must act on a proposal within 30 days, otherwise, the proposal is deemed approved" Cusi said.
Sec. Cusi said the EO 30 of Pres. Duterte will lead investors and other sectors involved for long-term planning in accordance to President Duterte's socio-economic reform.
Empowering the country's energy industry - dubbed the Philippine Energy Plan - is one key of the elements the current administration is facing to the challenge. Duterte is expecting the power industry to deliver 43,765 MW of additional electricity capacity for 2016 to 2040.
The EO also features the formation of the Energy Investment Coordinating Council (EICC) under the DOE in charge of the approval affairs, including the integration and streamlining of regulatory processes, requirements, and forms supporting to the government’s future efforts.
Source: Power Philippines
Based upon the new policy of Pres. Duterte, it states that incoming energy proposals from local and foreign entities will be reviewed for approval in a 30-day time frame instead of the tedious three-year period.
During the Asian Cooperation Dialogue (ACD) briefind, Energy Secretary Alfonso Cusi was quoted as saying "This will change the way we process our energy projects. No longer will take up to three year for an agency to respond to a proposal for the project. Instead, these agencies must act on a proposal within 30 days, otherwise, the proposal is deemed approved" Cusi said.
Sec. Cusi said the EO 30 of Pres. Duterte will lead investors and other sectors involved for long-term planning in accordance to President Duterte's socio-economic reform.
Empowering the country's energy industry - dubbed the Philippine Energy Plan - is one key of the elements the current administration is facing to the challenge. Duterte is expecting the power industry to deliver 43,765 MW of additional electricity capacity for 2016 to 2040.
The EO also features the formation of the Energy Investment Coordinating Council (EICC) under the DOE in charge of the approval affairs, including the integration and streamlining of regulatory processes, requirements, and forms supporting to the government’s future efforts.
Source: Power Philippines
$70 Million Worth of Energy Projects Saved Under Pres. Duterte's 30-Day Policy
Reviewed by PhilNewsXYZ
on
August 11, 2017
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Reviewed by PhilNewsXYZ
on
August 11, 2017
Rating:
