DoE order identifies sources of Renewable Energy Fund

The Department of Energy issued the guidelines for the operationalization of the Renewable Energy Trust Fund that will be used for the research, development and promotion of renewable energy sources.

The RE fund, according to Department Order 2018-10-0018, will be obtained from the emission fees collected from power generating companies under the Philippine Clean Air Act, 1.5 percent of the net annual income of the Philippine Charity Sweepstakes Office, 1.5 percent of the net annual income of the Philippine Amusement and Gaming Corp. and 1.5 percent of the net annual dividends remitted to the national treasury by Philippine National Oil Co. and its units.

Other sources of the fund include grants, contributions, donations which will tax deductible, 1.5 percent of the proceeds of the share of the government collected from the department and use of indigenous non-RE sources, any revenue generated from the utilization of the RETF and proceeds from the fines and penalties imposed under Republic Act No. 9513.

Topics: Department of Energy , DoE , Renewable Energy Trust Fund
COMMENT DISCLAIMER: Reader comments posted on this Web site are not in any way endorsed by Manila Standard. Comments are views by readers who exercise their right to free expression and they do not necessarily represent or reflect the position or viewpoint of While reserving this publication’s right to delete comments that are deemed offensive, indecent or inconsistent with Manila Standard editorial standards, Manila Standard may not be held liable for any false information posted by readers in this comments section.
AdvertisementSpeaker GMA