DOE of Philippine chalks out policies on Renewable Portfolio Standards and Green Energy Option

The Philippine Department of Energy (DOE) has chalked out a set of policies to fast-track renewables growth. Under the first policy, called the Renewable Portfolio Standards, power distribution utilities will be mandated to source a minimum portion of energy from renewable sources, thus guaranteeing a market for renewable energy producers. The second policy, called the Green Energy Option, will empower consumers to demand that their energy be sourced from renewable resources. The DOE will also establish a Green Energy Rate for 2,000 MW of new renewable energy capacity, or a baseline price that will support the renewable energy generators by securing (power supply agreements) and selling their energy.