The Philippine Chamber of Commerce and Industry (PCCI) is urging the Senate to accelerate the passage of an energy policy package centered on expanded fiscal incentives and faster domestic oil and gas exploration.
At a House hearing on Wednesday, the business group—through a position paper read by director David Chua—called for enhanced tax and fiscal perks for companies committing to multi-well drilling programs in key onshore and offshore basins within the next 24 months.
Priority areas include the West Philippine Sea, Palawan blocks, and the Liguasan Marsh.
PCCI also pressed lawmakers to designate all approved petroleum and gas developments as “Projects of National Significance,” a classification it said would help shield projects from third-party interventions that often delay execution and weaken energy security.
Framing its proposal as a push for “energy sovereignty,” the group argued that tax relief alone is insufficient. Instead, it stressed the need to expand domestic production to ensure long-term supply stability. It pointed to the Malampaya Phase 4 Drilling Campaign as evidence of untapped local resources and called for a more aggressive exploration program across pre-identified areas.
The group further proposed using the Malampaya “energy dividend” to cushion the fiscal impact of tax breaks. It said the government’s 60 percent share from the MAE-1 and Camago-3 gas discoveries could offset revenue losses from potential suspensions of fuel excise taxes and value-added tax (VAT).
PCCI added that indigenous gas, priced at about P4.80 per kilowatt-hour, is significantly cheaper than imported liquefied natural gas, which exceeds P10 per kWh. Removing VAT on local gas, it said, would allow consumers to directly benefit from lower electricity costs while strengthening energy independence.
