A few weeks back Grant Thornton International revealed the results of their survey to find the most energy conscious countries. They found out that the Philippines was tops when it came to Energy Conservation.
83 percent of businesses in the Philippines have undertaken energy reviews to understand how they may be wasting energy, compared to the global average of only 58 percent. Likewise, 85 percent of businesses in the country have reduced their energy consumption, in contrast to the 59 percent average worldwide.[source]
I’d have to say that its more likely out of necessity that Philippine companies are energy conscious. The Philippine Energy Market is notoriously known to have one of the highest electricity rates in South East Asia. This is said to have had the detrimental effect of stunning industrial growth and dissuading foreign investors from entering into the country.
They say that this was caused by anomalous contracts entered with IPP’s as well as with the high repayment rate of the National Power Corp’s debts. Add also the fact that the Philippines is not an oil exporting country and that the IPP’s are primarily composed of Bunker Fuel fed diesel engines, thereby making it very susceptible to the volatility of the price of oil.
Category: Misc, Energy News, Conservation
