Former DOE Usec. Layug speaks at PNBC Luncheon on 19th of February 2014

News about rising power prices have been in every broadsheet in the country almost every day since it was first announced in November 2013 that generation costs have increased due to, among others, the planned maintenance shutdown of the Malampaya gas fields. Stability of power supply had always been at the top of the list of concerns for investors when deciding to go in or expand their current operations.

It was then very timely that PNBC, in its first networking luncheon for 2014, invited as speaker the former Undersecretary of Energy, Atty. Jay Layug, to shed light on the state of the Philippine energy sector and where we are heading in the next few years.

SN Power’s Country Manager Bjorn Holsen had the pleasant task of introducing the guest speaker, who, prior to becoming DOE Undersecretary, had led a sterling career in law practice including a stint in New York at Sullivan & Cromwell and as international legal consultant of ADB. Incidentally, it was also Atty. Layug’s birthday, and Bjorn made sure that he got a big round of applause from the audience.

Now working as Senior Partner at the Puno & Puno Law Offices, Atty. Layug gave a rundown of the state of the various subsectors, and shared his invaluable insights as to how the renewable energy and upstream/downstream oil & gas sectors might be further developed. He also shared some thoughts on the next steps that should be taken by government to ensure that development proceeds as planned, so that investors would continue to take cognizance of the Philippines as an investment destination. He noted that the EPIRA Law has to be continually implemented.

At the end of his talk, a lively Q&A session with PNBC members ensued.

The PNBC Networking Luncheon is held bi-monthly in its usual venue at the I’m Angus Steak House in Yakal St., Makati City.
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