DOE expects more power investments

CEBU, Philippines — The Department of Energy expects more investments in the power sector following the passage of a law that’s bent on cutting down the bureaucracy in the industry.

Lisa Go, chief at the DOE’s Investment Promotion Office, said the agency is going to establish the Energy Virtual One-Stop Shop (EVOSS) within one year from the effectivity of the law.

“DOE shall operate and maintain an effective information technology infrastructure system, which shall be updated regularly,” she said at a recent forum in Cebu City.

Republic Act 11234 or the EVOSS, signed last March 8 and took effect last March 29, aims to streamline the permitting process of power generation, transmission and distribution projects.

The DOE signed the law’s implementing rules and regulations (IRR) last May 30.

Go said the EVOSS would help achieve the projected 43,000 megawatts (MW) additional capacity needed by the Philippines by 2040, the year it is eyed to become a high-income economy.

She added it would also ensure the timely installation of these additional capacities, which she noted is “crucial to avoid cost of delay and additional burden to the consumers and to the economy.”

The lengthy permitting process of energy projects will also be addressed, she said.

The EVOSS is among the measures targeted to entice more investments in the sector.

EVOSS, signed into law last March 8, streamlines the permitting process for energy-focused businesses.

Energy Undersecretary Felix William Fuentebella earlier said all the committed and indicative power projects are expected to meet future demand.

Committed projects are those that already have funding and specific details on capacity and expected period of operation while indicative projects are those that are yet to be funded.