President Ferdinand "Bongbong" Marcos Jr. made the right move by talking to French President Emmanuel Macron on possible partnerships in nuclear energy, Albay 2nd district Rep. Joey Salceda said.
“The lesson that must be learned from Covid, as it should have been from the Global Financial Crisis, is that countries shift or revert towards dirty energy after crises because they see it as cheap, only to later on see their prices spike up above pre-crisis levels. That always happens,” said Salceda, chairman of the Committee on Ways and Means.
“So, President Marcos’s efforts to diversify our energy portfolio respond to the most urgent national needs for clean and cheap energy and for climate change mitigation," he noted.
Marcos brought up nuclear energy development in the Philippines with Macron when the two leaders met at the just-concluded Asia Pacific Economic Cooperation (APEC) Summit in Bangkok, Thailand.
Earlier this year, Salceda called President Marcos the country’s first “renewable energy President", since he's the first President to have been elected on a strong platform of renewable energy.
"While nuclear as RE is debatable, it is definitely cleaner than coal, which comprises more than half our dependable capacity," the Bicolano said.
He further said that while nuclear accidents can be avoided with technology, coal "always kills, with slow death by environmental asphyxiation".
“I am in talks with stakeholders from RE-heavy countries like Norway and Switzerland, and with the banking sector to see how we can boost financing for RE projects in the country. This will help foreign investors boost the impact of their investments in the Philippines,” Salceda said.
Salceda said that he particularly wants foreign investment in RE “due to their technical expertise and their innovations".
“The money is there. The Philippines is a very highly investible country with huge RE potential. But we need technology, know-how, and innovation. That is what foreign RE investors can offer us,” he further said.