Energy Development Corporation (EDC) is encouraging government to support the development of more geothermal projects; because geothermal is not only a clean, renewable and indigenous energy source but its cost, as well as supply, is stable.
EDC President and COO Richard B. Tantoco explained the country cannot depend on coal-fired power plants for stable prices because – contrary to popular perception – coal is no longer a cheap power plant fuel, he noted.
Tantoco explained that EDC’s focus on developing geothermal and other renewable energy sources reflects the company’s recognition of the need to lessen the build-up in the atmosphere of more carbon dioxide and other greenhouse gases that are blamed for global warming and climate change.
The use of geothermal energy also helps the government save on foreign exchange that otherwise would pay for imported fuel sources like coal.
