The House of Representatives on Tuesday September 7 moved to accelerate energy development programs for the energy-starved Philippines with the creation of the Philippine Renewable Energy Corporation (PREC).
This followed the approval of the committee reports of technical working groups on two House measurers – House Bill 9544 creating PREC and House Bill 8762 strengthening the Philippine National Oil Company (PNOC).
A substitute bill of HB 8762 deleted an original provision stating ‘’renewable and alternative’’ energy development following the creation of PREC as sought by Deputy Speaker Rufus Rodriguez.
Henceforth, Rodriguez explained, ‘’the PNOC shall prepare and implement, through its subsidiaries, or other entities, a comprehensive and integrated program for all primary and conventional energy resources.’’
Renewable energy ‘’is the thing of the future,’’ according to Rodriguez during a House energy committee hearing chaired by Juan Miguel Macapagal-Arroyo.
The PNOC shall, among others, also undertake by itself or otherwise, exploration, storage, exploitation, development, transportation and distribution of all energy resources in the county.’’
HB9544 sought to abolish the existing PNOC-Renewables Resources (PNOC-RC) and its powers and functions are transferred to the PREC.
It also sought the initial funding of P5 billion to PREC, known as the ‘’Corporation.’’.
Under the heading of ‘’Powers and Functions of the Corporation,’’ the Corporation shall have the following powers and functions:
To undertake, by itself or otherwise, exploration, exploitation and development of 23 all renewable energy resources of the country, including surveys and activities 24 relative thereto;
To construct, install, operate and maintain renewable and hybrid energy generation 26 facilities in the Small Power Utilities Group (SPUG) areas and other unserved and underserved areas in partnership with the electric cooperatives or under a contract 28 with the National Power Corporation;
To enter into contract with the government or any person or entity, domestic or foreign, which shall undertake various aspects of renewable energy resources exploitation including the acquisition, purchase, lease or other deferred payment arrangements of equipment and raw materials and supplies, as well as for services related therewith under such terms and conditions as it may deem proper and reasonable.