President Marcos discusses power generation and pursuing full household-electrification by the end of his term. He also mentions the need for more renewable energy in the country. #SONA2023
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00:00 Owing to favorable market conditions, the price of crude oil has stabilized.
00:06 Since last year, gasoline and diesel prices have gone down by 18 to 29 percent, respectively.
00:12 We have built eight new additional power plants.
00:16 This brings to 17 the total number of power generation facilities that have been switched
00:21 on across the country since last year, substantially increasing our energy production by 1,193
00:29 to 174 megawatts.
00:32 Alongside power generation, we are also as relentless in pursuing total electrification.
00:38 Since my assumption into office, almost half a million homes have been given access to
00:43 electricity.
00:44 We will spare no effort to achieve full household electrification by the end of my term.
00:50 One hundred percent is within our reach.
00:57 When it comes to energy, renewable energy is the way forward.
01:02 We are aggressively promoting renewables so that it provides a 35 percent share in the
01:07 power mix by 2030, and then on to 50 percent by 2040.
01:13 To accelerate the realization of this green energy goal, we have opened renewable energy
01:18 projects to foreign investments.
01:21 Since last year, an additional 126 renewable energy contracts with a potential capacity
01:28 of 31,000 megawatts have been awarded.
01:32 To date, we have over 1,000 active projects spread all over the country.
01:37 Two hundred ninety-nine of these are solar, 187 are wind, 436 are hydroelectric, 58 biomass,
01:46 36 geothermal, and 9 are ocean-powered.
01:51 The Malampaya project has been a boon to our country, energizing 20 percent of Luzon.
01:57 The renewal of the contract guarantees continued revenues in energy production for another
02:02 15 years.
02:04 But aside from Malampaya, we will also push for more gas exploration in other parts of
02:09 the country.
02:11 The national government has also partnered with the BARMM in regard to energy exploration
02:17 and development, and also its utilization within its territorial jurisdiction.
02:23 We therefore expect to see renewed investor interest in its promising sites.
02:29 We finally have a unified national grid with the interconnection of the Luzon, Visayas,
02:36 and Mindanao grids.
02:37 The one grid, one market will enable more efficient transfers and more competitive pricing
02:44 of electricity throughout the country.
02:47 However, 68 grid connections are much delayed, according to the ERC's count.
02:54 We are conducting a performance review of our private concessionaire, the National Grid
02:59 Corporation of the Philippines.
03:06 We look to NGCP to complete all of its deliverables, starting with the vital Mindanao-Visayas and
03:13 Cebu Negro-Spanay interconnections.
03:15 [APPLAUSE]