FIT to benefit oligarchs only
Two recent newsworthy events should serve to refocus the current orientation of our power sector—and the enslaved consumers.
- The recent award by our energy hierarchy of the so-called feed-in tariff (FIT)—all tariffs to our oligarchs—which would presumably be based on the pre-year 2015 prices. (Note, we are of the impression that our energy authorities have this preoccupation to make the country a hub for sustainable energy development—at consumers’ expense!)
- The recent worldwide glut in the oil market and the resulting drop in prices from the $120-per-barrel range to $50-per-barrel range.
The vaunted “no-brainer” advantages of the renewables—from the perspectives of economies and stability—are challenged, and only the environmental issues need to be debated.
—ALFREDO V. ASUNCION, [email protected]
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