BREAKING NEWS!

EUROPEAN UNION, WILL COLLABORATE WITH THE PHILIPPINES IN ITS TRANSITION TO GREEN ENERGY

BY: CHARLES NIKKO LIMON

Kath’s electricity bill reaches almost P3,000 per month.

She runs a small eatery using three refrigerators and two rice cookers, which significantly contribute to her power consumption.

Amid rising prices of goods, she tries to find ways to cut down on electricity expenses.

Currently, most power plants still rely on coal as a fuel source for electricity production.

According to the Department of Energy, electricity from coal-powered plants costs around P4 to P5 per kilowatt-hour. However, this also poses risks to the environment.

Since taking office in 2022, President Marcos has prioritized lowering electricity costs by expanding the use of renewable energy sources such as solar and wind power.

The European Union has expressed its commitment to assisting the Philippines in adopting green energy.

The EU has allocated 60 million euros (approximately P3.6 billion) for its Green Economy Program in the Philippines.

Additionally, other EU member states have pledged a total of P28 billion for this initiative.

They emphasized that this effort aligns with other EU programs for the Philippines, including economic cooperation and investment promotion.

Another highly anticipated development is the continuation of discussions on a Free Trade Agreement (FTA) between the Philippines and the European Union.

After their visit to Baguio City, the ambassadors are set to tour other parts of the country to explore more ways to address the nation’s challenges.

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