News Formal

Business groups back balanced energy policy

  • 📰 TheManilaTimes
  • ⏱ Reading Time:
  • 21 sec. here
  • 7 min. at publisher
  • 📊 Quality Score:
  • News: 29%
  • Publisher: 92%

Business News

Groups,Back,Balanced

A NUMBER of business groups have backed the Department of Energy's (DoE) balanced energy policy, noting the need to balance energy security and affordability with climate change concerns to foster economic growth.

A NUMBER of business groups have backed the Department of Energy's balanced energy policy, noting the need to balance energy security and affordability with climate change concerns to foster economic growth.In a joint statement on Tuesday, the business groups led by the Management Association of the Philippines said the DoE's approach to fostering a balanced energy mix was vital given increasing energy demand.

Despite a government target to achieve a 50-percent renewable energy share by 2040, the group said a significant portion of the energy generation would still come from fossil-based sources.'Energy insecurity is expensive. The power outage in Panay Island in January this year was estimated to have led to about P3.8 billion in economic losses for the province of Iloilo alone,' it added.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 2. in MY

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Business groups express support for DOE’s balanced energy, coal policyDefining the News
Source: MlaStandard - 🏆 20. / 55 Read more »

DoE to restart reserve market in AugustTHE Department of Energy (DoE) is set to restart the reserve market early this month.
Source: TheManilaTimes - 🏆 2. / 92 Read more »