EDC encourages government to aid geothermal development

Lopez-led Energy Development Corp. (EDC) is encouraging government to support the development of more geothermal projects—a clean and steady-priced power supply source—as it says the country cannot just rely on coal-fired power plants.

A staunch supporter of clean energy adoption, EDC said geothermal is not only a clean and renewable energy source but its cost and supply are stable.

EDC president and COO Richard Tantoco said the country cannot depend on coal-fired power plants for stable prices since coal is no longer a cheap fuel and is volatile in terms of pricing.

“Indonesian coal was $44 a metric ton in February and just a couple of weeks ago it reached $110 (per metric ton),” he said.

Tantoco highlighted the risk in relying heavily on a single fuel source, saying consumer will bear the burden if that fuel source encounters supply shortages or sharp price increases.

Read more here.

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