MANILA, Philippines – The Department of Energy has finally formed the National Renewable Energy Board, a move seen to speed up the setting of mechanisms and incentives critical to the implementation of the renewable energy law.
Named members of the board were National Transmission Corp. president Arthur N. Aguilar, former energy secretary and now Merritt Energy Partners president Vincent S. Perez, Development Bank of the Philippines president and CEO Reynaldo G. David and Philippine National Oil Co. president Antonio M. Cailao. They were sworn in recently by Energy Secretary Angelo T. Reyes as NREB directors.
Created under Section 27 of RA 9513 or the Renewable Energy Act of 2008, the NREB is a recommending body on renewable energy policies and action plans for implementation by the DOE.
One of the more important mechanisms that the NREB has to help develop would be the feed-in tariff system, an incentive most awaited by companies engaging in renewable energy projects.
The feed-in tariff system, the companies claimed, would determine if their planned projects would be economically viable.
Under the law, the Energy Regulatory Commission will, in consultation with the NREB, develop the feed-in tariff system for different types of renewable sources of energy within a year from the effectivity of the renewable energy law.
The feed-in tariff is a regulated incentive structure that typically pays a premium for electricity generated from renewable energy sources and has been successfully used in Europe to accelerate the development and use of renewable energy.
It also serves as an assurance to potential investors of a stable pricing mechanism.
Ideally, the feed-in tariff system should be developed within six months after the signing of the implementing rules and regulations governing the Renewable Energy Act of 2008, which should be by November this year.
Also, the NREB is tasked to evaluate and recommend to the DOE the mandated Renewable Portfolio Standard (RPS) and minimum RE generation capacities for off-grid areas.
The board will also oversee and monitor the use of the Renewable Energy Trust Fund, which is dedicated to enhance the development and greater utilization of renewable energy and administered by the DOE. –Amy R. Remo, Philippine Daily Inquirer
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