PH high power rates good for transition to renewable energy—WB

There’s a silver lining in your electric bill.

The World Bank special envoy for climate change believes power rates in the Philippines, among the highest in Asia, may actually be a good thing for the environment, as it eases the transition to renewable energy sources.

“On the slightly brighter side, the fact that power rates are so high makes it much easier to bring in renewable energy because at the prices here, renewable energy is actually very competitive,” said Andrew Steer.

With lower electricity rates, bringing in alternative sources of energy, such as solar, wind or hydrothermal energy, would be more expensive, he said on Wednesday at a briefing in Pasig City.

Read more at Philippine Daily Inquirer

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