Several private sector organizations have emphasized the need for the Philippines to balance energy security, affordability, and climate change concerns to boost its economic development.
Several organizations, including the Blockchain Council of the Philippines (BCP), Employers Confederation of the Philippines (ECOP), and Makati Business Club (MBC), issued a joint statement emphasizing the urgent need for the Department of Energy (DOE) to focus on increasing the Philippines’ power capacity.
In a report by the Manila Bulletin, they pointed out that the country ranks near the bottom in energy supply per capita within Southeast Asia.
The group highlighted the economic impact of energy insecurity, citing the power outage in Panay Island in January, which resulted in an estimated Php 3.8 billion economic loss for Iloilo Province alone.
Nevertheless, the organizations expressed support for DOE Secretary Raphael P.M. Lotilla in crafting an energy policy that addresses the country’s unique needs.
The report was also endorsed by the Federation of Philippine Industries (FPI), Financial Executives Institute of the Philippines (FINEX), Fintech Alliance.PH., Foundation for Economic Freedom (FEF), Management Association of the Philippines (MAP), and Women’s Business Council Philippines (WomenBizPH).
This unified position came in response to a complaint filed by the Power for People Coalition (P4P), which opposed Lotilla’s endorsement of the expansion of Aboitiz-owned Therma Visayas, Inc. Unit 3 in Cebu.
P4P argued that this approval violated a ban on new coal-fired power projects imposed by the previous administration. However, the private sector groups clarified that the DOE’s moratorium on coal-fired plants only applies to greenfield projects.
The organizations stressed that balancing energy security, affordability, and climate change concerns is essential for the country’s economic progress.
The circle commended the DOE’s efforts to develop indigenous energy resources, reduce reliance on imported fossil fuels, lower power costs, and pursue energy efficiency. They pledged their support for the DOE’s objectives, with the Philippine Chamber of Commerce and Industries (PCCI) also voicing its support for Lotilla amid graft complaints filed by progressive groups.
