POWER costs in the Philippines are very high, affecting foreign direct investments into the country. During an economic briefing for members of the Management Association of the Philippines last Feb. 8, 2023, Albay Rep. Jose Maria Clemente 'Joey' Salceda said that in the Asean region, Philippines power costs were next only to Singapore, which has no indigenous energy sources. To lower power costs, the Philippines needs to expand renewable sources and bring in foreign investors.

It is a good development that the Justice department has ruled that companies using kinetic energy (energy from water, marine current, wind, solar or the ocean) to generate power should not be subjected to the 40-percent foreign equity limitation under Section 2, Article 12 of the Constitution. However, it is also important that the government grant effective incentives to companies engaged in producing renewable energy.