The European Chamber of Commerce of the Philippines (ECCP) and the Philippine Economic Zone Authority (PEZA) are set to start implementing a joint undertaking to encourage locators in ecozones around the country to invest in energy efficiency.

Signed by ECCP President Michael Raeuber and PEZA Director General Lilia de Lima, the implementing rules and regulations (IRR) prescribes procedures and guidelines to the memorandum of agreement (MOA) the two sides signed earlier.

Effectively, the IRR will allow the Energy SMART program of the ECCP to facilitate the conduct of energy audits through its accredited service and technology providers.

The Energy SMART program will also recommend actions that will promote good housekeeping and appropriate investments that will lead to reductions in energy usage.

Under the IRR, locators are encouraged to implement energy efficiency and conservation measures leading to power cost reduction and energy related revenue generation measures.

The ECCP said that evidence has shown that investments into energy efficiency can lead up to 30 percent reduction in energy consumption and that pay-back period for the investment can be as short as six months and rarely exceeds three years.

The IRR also states that PEZA will be responsible for encouraging all locators to undertake the energy audit. It also calls on PEZA to require locators to submit monthly reports on the status and implementation of the program.

The Energy SMART team of the ECCP in turn will submit to PEZA an annual comprehensive report on the status, challenges, and future directions of the program.

The chamber will also assist PEZA in monitoring the performance of ecozone locators and in recognizing the achievers among ecozone locators in the field of energy efficiency and conservation.

A new category in the Annual PEZA Awards will be created to recognize these achievers in energy efficiency.

Started in 2010, the ECCP’s Energy SMART Program is a campaign that aims to provide companies measures that will result in significant energy savings in their operations, make them competitive in the international market, in partnerships with energy solutions providers and green financing institutions. (BCM)

Source: Manila Bulletin; Business Bulletin; 16 April 2013