MANILA, Philippines- The Senate finance subcommittee this Friday approved the 2023 budgets of the Department of Energy (DOE), the Energy Regulatory Commission (ERC), and the National Electrification Administration (NEA).
Senator Sherwin Gatchalian, who chaired the hearing, said that the energy bodies’ budgets have been submitted for plenary consideration.
The DOE’s budget for next year is P2.2 billion. Meanwhile, P569.9 million and P4.11 billion were allocated for ERC and NEA.
During the six-hour budget deliberations of the agencies, several issues were discussed such as renewable energy, power outages, and high electricity rates.
Ayon kay Energy Secretary Raphael Lotilla, handa ang foreign investors na mag-venture sa renewable energy sa Pilipinas “provided that we are able to increase the equity or ownership limits for foreigners.”
However, the three agencies were encouraged to find a solution to brownouts and high power rates. RNT/SA
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