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Partnership Agreement Signing Ceremony between ETP and the Philippines Energy Regulatory Commission

27 May 2022

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ETP

ETP Signs Partnership Agreement with ERC

The Philippine Energy Regulatory Commission (ERC) and the Southeast Asian Energy Transition Partnership (ETP) held a signing of a Partnership Agreement on 6 May 2022 that will advance energy transition by supporting ERC’s regulatory framework for the energy sector and identify any areas of improvement within energy regulations required to move towards a low carbon economy and reach Philippines’ stated Nationally Determined Contributions (NDC). ETP Director Sirpa Jarvenpaa signed the agreement on behalf of the ETP, while Atty. Agnes VST Devanadera signed on behalf of ERC.

According to ERC Chairperson Agnes T. Devanadera, the propounded collaboration with ETP will “increase the effectiveness for both our agencies in terms of fulfilling our respective mandates and functions in relation to moving towards a low carbon energy system.”

The chief regulator explained that the ETP pact “seeks to provide a framework of cooperation and facilitate collaboration between the parties on a non-exclusive basis – in areas of common interest in accelerating energy transition in the Philippines.”

Against the Philippines Nationally Determined Contribution (NDC) target to reduce the Greenhouse Gas (GHG), ERC is in a critical position to ensure that the Government’s low carbon energy plans, energy transition road maps and energy sector development plans deliver on the GHG targets for the energy sector. Such achievements can be realised by implementing a flexible regulatory framework that recognizes the importance of innovation and welcoming newcomers into the energy sector.

The ETP is a multi-donor partnership formed of governmental and philanthropic donor partners to support sustainable energy transition in Southeast Asia in line with the Paris Agreement to help the region achieve the Sustainable Development Goals (SDGs). ETP aims to empower its partner countries to transition towards an energy system that simultaneously ensures environmental sustainability, economic growth and energy security. To achieve this goal, ETP will mobilize and coordinate the necessary technical and financial resources to create an enabling environment for renewable energy, energy efficiency and sustainable infrastructures in the region.

ERC’s work involves assessing the regulatory options to pursue a low carbon energy system and setting the leading parameters for the investments and competencies required to move to such a modern system. Within this context, today’s signing signifies a partnership between ETP and ERC in the strategic context of the evolving role of power sector regulation, the regulator and the emerging objectives.

“ETP is delighted to sign a Partnership Agreement with ERC. Our partnership is timely and aims to support ERC with technical advice as they develop an overarching regulatory framework that is focused on

competitiveness and realising the low carbon energy objectives of the Government. We look forward to mobilising specific Technical Assistance to reinforce ERC’s ambition to be a ‘a world class and independent electric power industry regulator that equitably promotes and protects the interests of consumers and other stakeholder’ ” stated Director Jarvenpaa.

The partnership will enable ETP and ERC to collaborate on the Philippines’ energy transition and transition to a low carbon energy system, which will be essential in the national endeavor to achieve the NDC target of reducing carbon emissions by 75 percent by 2030.

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ABOUT ETP

The Southeast Asia-Energy Transition Partnership (ETP) in the Philippines is a multi-stakeholder platform that is established to accelerate the energy transition in Southeast Asia and deliver the Paris Agreement commitments. ETP aims to address the energy trilemma by balancing the goals of environmental sustainability, economic growth and energy security. This was first announced at the One Planet Summit in 2018 by the Children’Investment Fund Foundation, the French Development Agency, Germany’Federal Ministry for the Environment, Nature Conservation and Nuclear Safety, and the High Tide Foundation together with the Government of Canada, and the United Kingdom’Department for Business, & Energy and Industrial Strategy. The ETP’fund manager is the United Nations Office for Project Services (UNOPS).