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Marcos administration would prioritize lowering energy costs, according to DOE executives.

Reducing the cost of fuel and electricity in the nation is one of the Marcos administration’s priorities in the energy sector, according to DOE officials on Tuesday.
Since the nation is dependent on petroleum imports, according to DOE head Mario Marasigan, the organization wants to tap into alternate fuel sources and push for innovation in the mass transit system.

We can replace the current transportation system with electric-driven locomotives. During the post-State of the Nation Address (SONA) Philippine economic briefing in Pasay City, he remarked, “We may also introduce the e-vehicle program, so we use more of the renewable energy that we have in terms of (the) electric power business and minimize our dependence from the petroleum sector.

In addition to promoting the use of renewable energy sources, Marasigan said that the DOE is also working on the discovery of new natural gas resources that will supplement the Malampaya gas field.

President Ferdinand Marcos Jr. stated in his State of the Nation Address (SONA) on Monday that more new power plants must be built to meet the nation’s expanding energy needs.

“We need to construct new power plants. The best technology now in use must be utilized, especially in the field of renewable energy, according to Marcos.

The agency’s primary objective, according to DOE Secretary Raphael Lotilla in the economic briefing, is to overcome investment environment uncertainties that discourage investors from investing in the energy industry.

In order to stabilize the investment regime, Lotilla added, “and we will do so by a variety of measures: first, through executive action to explain the policy; and second, to have the clarification by Congress as well.

During this administration, he claimed, the agency has been given the go-ahead by the Chief Executive to pursue energy security and lower energy costs.

Along with building additional power plants, Lotilla claimed that completing the inter-island interconnection and bolstering the transmission lines would aid in the electrification of homes nationwide.

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