Global Business Power Corp. on Wednesday stressed the importance of a stable regulatory environment to support the energy sector’s development.
GBPC President Jaime Azurin said regulatory issues must be addressed to avoid potential gaps in policy.
He said the forthcoming implementation of the renewable portfolio standards, which require distribution utilities to secure a portion of their power supply from eligible renewable energy producers, as well as the green energy option, must have the option to choose RE as their energy source.
GBCP is also calling for the energy sector to adopt a sustainable approach to development and called for energy stakeholders to work together to address both economic and environmental challenges.
“Energy is the lifeblood of all economic activity, without power our factories and offices and railways will simply not run, but generating power to support these activities cause pressures on the environment,” he said.