BOI exec wants implementation of energy feed-in tariff postponed

The implementation of the feed-in tariff for renewable energy projects must be postponed, a government official suggested Thursday. The feed-in tariff will likely jack up power rates, said Board of Investments (BOI) managing director Cristino Panlilio on the sidelines of the Philippines Power & Infrastructure Funding Roundtable Forum 2011. “It's still an additional cost. We already have high power rates," Panlilio said. “For now, the Philippines cannot afford it." He added that it will probably be best to wait until the cost of renewable energy goes lower. Panlilio explained, “The technology is getting cheaper and cheaper and cheaper. In the long-run, we may see it getting more affordable and closer to the current cost of other more traditional sources of fuel. Every year, the costs of solar farming facilities are going down." Last month, Hans-Josef Fell, a visiting member of the German parliament said investments in renewable energy may not only drive down electricity costs but also boost the country’s economy. Feed-in tariff is a fixed payment to renewable energy providers as an incentive to reduce the country’s dependence on imported fossil fuel. — PE/VS, GMA News