Cost Of Energy In The Philippines Essay

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of the wealthy countries. This imply that it is not the best policy for the reduction of energy demand in the Philippines. The third policy is increasing the price of energy. The gist of this policy is there will be financial pressure to the consumers when the cost of energy is high. This is done by increasing the cost of fossil fuels until it is at par with the cost of the carbon-free energy sources. Increasing the cost of energy would then reduce energy consumption by improving the innovation for more energy efficient equipment and changing the way consumers think. The impact of increase in fuel has a direct effect on the petroleum consumption of a household and on the prices of services and goods. Increasing the fuel cost will increase the commodity prices such as food and agriculture because one third in the cost of grain production comes from energy.[6] The retailers will also increase their prices since they rely on energy consumption for their goods.[7] The transportation cost also becomes high as the oil price…show more content…
Based on the Community Based Monitoring System acquired from the study, there are significant behavioral changes in the urban and rural people. It can be seen in figure 5 that there has been a significant change in electricity consumption pattern and decrease electricity usage in the urban and rural household from both poor and non-poor. On the other hand, other coping factors have affected the people surveyed such as the change in health seeking behavior and change in food consumption. Some respondents resorted to self-medication and modified their expenses on food which can affect them in the long

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