More companies encouraged to explore for coal
09/22/2009 | 08:07 PM
More companies will be encouraged to explore for coal resources to ensure the Philippines’ sufficient and affordable energy supply, the country’s energy chief said.
“The sooner we develop our coal resources, the less will be our coal importation," Department of Energy (DOE) Secretary Angelo T. Reyes said during the Philippine Energy Contracting Round (PECR).
During the event, the energy chief encouraged coal resource developers to keep on exploring the country’s coal resources.
Coal, the dirtiest but cheapest form of energy, will remain part of the Philippines’ generation mix, Reyes added.
“Coal…offers the cheapest source of energy," Reyes said. “We should continue to attract local investors to pour in capital into this industry. They will be helping the economy and will be reducing our import bill."
Coal contributes 25 percent of the country’s power generation mix, energy department data said.
Local demand for the solid fuel goes beyond power generation since the cement industry used 20 percent of the country’s coal supply.
One percent also went to other industries including alcohol, rubber boots, paper and chemical manufacturing, fertilizer production, among others.
For the last three years, the country’s coal production has doubled to three million metric tons (MTs) from 1.5 MTs.
Interest in coal mining have increased as consumption rises, brought about by the installation of new coal-fired power plants and industries switch to coal, which is cheaper than oil.
The Philippines’ coal reserves amount to 458 million metric tons or 18 percent of the country’s total coal resource potential of 2.53 billion metric tons. - GMANews.TV
“The sooner we develop our coal resources, the less will be our coal importation," Department of Energy (DOE) Secretary Angelo T. Reyes said during the Philippine Energy Contracting Round (PECR).
During the event, the energy chief encouraged coal resource developers to keep on exploring the country’s coal resources.
Coal, the dirtiest but cheapest form of energy, will remain part of the Philippines’ generation mix, Reyes added.
“Coal…offers the cheapest source of energy," Reyes said. “We should continue to attract local investors to pour in capital into this industry. They will be helping the economy and will be reducing our import bill."
Coal contributes 25 percent of the country’s power generation mix, energy department data said.
Local demand for the solid fuel goes beyond power generation since the cement industry used 20 percent of the country’s coal supply.
One percent also went to other industries including alcohol, rubber boots, paper and chemical manufacturing, fertilizer production, among others.
For the last three years, the country’s coal production has doubled to three million metric tons (MTs) from 1.5 MTs.
Interest in coal mining have increased as consumption rises, brought about by the installation of new coal-fired power plants and industries switch to coal, which is cheaper than oil.
The Philippines’ coal reserves amount to 458 million metric tons or 18 percent of the country’s total coal resource potential of 2.53 billion metric tons. - GMANews.TV
