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Win-win for business: Meralco to save on generation costs by ditching fossil fuels

The Manila Electric Company (Meralco) can reduce its generation cost by nearly 18 percent by shifting from coal to renewable energy sources, according to a study made by environmental groups.

Center for Renewable Energy and Technology (CREST) president Rei Panaligan said their study with Greenpeace shows Manny V. Pangilinan’s power company can very clearly afford a change in its energy mix.

At present, 94% of Meralco’s power sources are drawn from dirty fuels, with only 6% of its portfolio supplied by renewables.

“There is no excuse for companies like Meralco to cling to outdated fossil fuel-centric business models that are destructive to the environment and people’s health and livelihoods,” Greenpeace Campaigner Khevin Yu said in a statement.

“All that is needed is the willingness to change and do the right thing –– and a clear plan that shows how they will follow through with that commitment,” he added.

Panaligan said now is the time for Meralco to make the big shift, for the benefit of consumers and the company’s bottomline.

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