FPI to ERC: Work on pending power supply agreements

FPI to ERC Work on pending power supply agreements

The Federation of Philippine Industries (FPI) has called on the Energy Regulatory Commission (ERC) to take action on the pending power supply agreements (PSAs) on the latter’s table.

“Energy security is a very important concern for FPI since all of our members are manufacturers that need stable and reliable supply for their operations,” FPI Chairman Jesus Lim Arranza said.

“And as part of this sector, we enjoin the ERC to do its role by acting on the more than 90 PSAs pending with the commissions since April last year,” the chairman added.

Arranza also said that these power projects will assure ample power supply for the country.

“That is why we are concerned on the reported delays of several projects because of the lack of PSA approvals,” Arranza stressed.

The FPI believes that delays on these PSAs will affect the production of baseload power plants – which provide power on a 24/7 basis – that takes around three to four years to complete one construction.

“Power plant developers should start constructing their projects now to ensure that we will have sufficient supply that will support the country’s economic growth,” Dr. Arranza said.

Meanwhile, the FPI also gave their support to the Duterte Administration’s “Build! Build! Build!” program, and the Energy Investment Coordinating Council (EICC) that would make energy projects “of national significance.”

“This is a welcome development and a big step towards the right direction that will ensure that the country will have infrastructure and projects that we need to sustain the growth momentum,” Arranza noted.

DR. ARRANZA SPEAKING AT THE BUSINESS FORUM SA KARANCHO.

PHOTO FROM SCOOPNEST.COM

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