Because the rapture fell through, I had the chance to be enraptured by the presentations of NREB officials during the recent hearing of the Joint Congressional Power Commission (JCPC).
For one thing, NREB vice chair Ernie Pantangco pulled a surprise by presenting a balanced and thoughtful view on renewables and climate change. The conventional wisdom is that because the Philippines contributes less than half a percent of global GHG emissions, it wouldn't pay for us to even try. But Pantangco did a counterfactual. He had a table supposing that if all countries similarly situated did nothing, that would be a large potential loss. That was really insightful.
For another, Pantangco also showed another table adjusting RE costs to make these comparable to some Asian countries by using the financial risk premia applicable to the Philippines. These were not so high, after all. Thanks Ernie.
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