Press Release
October 14, 2022

Hontiveros pushes renewable energy solutions amid "endlessly" soaring oil prices

Senator Risa Hontiveros on Friday urged the government to hasten the rollout of renewable energy projects in the Philippines and lessen the country's vulnerability to international oil price shocks, following another big-time oil price hike this week.

The senator, a known supporter of renewable energy, made the statement after local oil companies announced increases to prices of diesel, gasoline and kerosene, due to drastic cuts in production announced by the OPEC + (Organization of Petroleum Exporting Countries). In one major oil firm, the prices went up by as much as P6.85 for diesel, P1.20 for gasoline, and P3.50 for kerosene, reversing the impact of small price rollbacks in previous weeks.

"The present situation only shows how vulnerable our nation is to oil price shocks. If nothing is changed, we will always be at the mercy of the market and its most influential players. Hindi pwedeng price monitoring lang ang aksyon ng pamahalaan. Kailangan nating madaliin ang pag-rollout ng renewable energy projects na pakikinabangan ng ating mga kababayan," Hontiveros said.

She explained that at present, the Philippines makes use of imported oil for a sizeable part of its energy needs, this making the country a "repeat victim" of changes and disruptions in global market prices of petroleum products. "By investing more in renewable energy projects such as solar, offshore wind, small and medium hydroelectric and geothermal projects, we will be doing much to lessen our dependency on imported oil," she said.

Hontiveros noted that during the recent hearing on the annual budget of the Department of Energy (DOE) and affiliated agencies, energy officials led by DOE Secretary Raphael Lotilla agreed with the need to implement reforms that will drive investments into local renewable energy projects and technologies.

At the hearing, Hontiveros also pressed the DOE, as well as the Department of Transportation (DOTr) and other agencies for a faster and effective implementation of the nationwide electric vehicle program, and to iron out problems preventing the wider adoption of "non-gas guzzling" vehicles in the country.

Hontiveros also urged her colleagues in the Senate to support her proposed Senate Bill No. 378 or the Solar Home System Financing for Social Housing Program Act, which aims to provide impoverished families in socialized housing sites easy access to solar energy technology and its benefits.

"This latest oil price hike should be a wake-up call that our present setup of importing oil for our energy needs is unsustainable and anti-consumer. Let us tap into our wealth of indigenous resources for our energy needs and end this vicious cycle of dependency on imported oil," Hontiveros concluded. ###

*Please see attached Senate Bill No. 378 in PDF

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