How the Green Energy Option Program (GEOP) Pushes for the Shift Towards Renewable Energy in the Philippines
The prices of coal and natural gas are on an upward trend globally. If this continues, businesses who rely on these commodities could lead to an increase in operational costs and a decrease in production activities. Energy and commodity prices are also exacerbated by the Russia-Ukraine war affecting net-importers like the Philippines. Despite this volatility, however, the Philippines has a potential for energy security, self-sufficiency, and a reduced reliance on imports by harnessing renewable energy through the Green Energy Option Program .
In the Philippines, the Department of Energy (DOE), in its National Renewable Energy Plan (NREP), outlined a strategy to increase the share of Renewable Energy (RE) in the Philippine Power Supply Mix. Currently, renewable energy only comprises 22% of the energy of the Philippines, with the majority still harnessed from non-renewable energy sources like coal and gas. In 2030, the DOE plans to increase renewable energy share by 35%, and 50% by 2040.
To achieve this, beyond providing incentives for businesses to invest in building renewable energy supply, the DOE has also implemented GEOP. More and more businesses are now going green, and the Green Energy Option Program is here to help you get there.
What is GEOP and how can your business be affected by it?
The Green Energy Option Program or GEOP is a provision in the Renewable Energy Act (RA 95113) that gives businesses the freedom to choose Renewable Energy (RE) as their source of electricity and get it from their preferred supplier.
GEOP is envisioned to encourage the development and utilization of renewable energy resources to effectively reduce harmful emissions, enabling the Philippine energy transition and ultimately,
helping businesses reduce reliance on imported energy sources.
Why does your business need to shift to GEOP?
Not only does GEOP help achieve a more environmentally friendly energy mix, but it also allows for more competitive operations through accessible and stable electricity from renewable energy sources. These are all core strategies for the long-term success of businesses, making the Green Energy Option Program a viable choice for companies to consider.
Transitioning to renewable energy through the GEOP is made easier when you go for a reliable and reputable partner. ACEN RES, the supply retail electricity unit of the Ayala Group, can help you make that important switch.
Is your business qualified to join GEOP?
All existing customers with a monthly average peak demand of 100 kilowatts (kW) and above for the past twelve (12) months, or with a monthly bill of Php300K to Php4M are qualified to opt in the program.
Additionally, newly connected customers (or those with less than 12 months of consumption) may be eligible to join the GEOP provided that they meet any of these 2 criteria:
(a) if your business has an estimated monthly average peak demand of 300kW and above for the next 12 months; or
(b) if your business has an estimated monthly average peak demand of 100kW to 299kW for the next 12 months and a registered historical peak demand of at least 100 kW for 3 consecutive months.
Switch to GEOP today with ACEN RES
Using GEOP to power your business would not only help it become greener and save more on electricity costs, but it will also help pave the path for the entire Philippines to run on renewable energy to make it more sustainable. At the same time, supporting the Green Energy Option Program is a viable way for businesses to heed the call of Filipino consumers to operate sustainably.
Is your business ready to take that call?
Learn more about GEOP and become part of this renewable energy revolution by contacting ACEN RES here.
