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Business

Emergency power for P-Noy pushed to solve power problem

Iris Gonzales - The Philippine Star

MANILA, Philippines - The Federation of Philippine Industries (FPI) is supporting the grant of emergency powers to President Aquino for him to be able to address the looming power crisis.

FPI chairman Jesus Arranza said while the nation is still preoccupied with the administration’s controversial Disbursement Acceleration Program (DAP), the country’s power situation continues to worsen.

Arranza was referring to the rotating blackouts the Luzon grid experienced last Friday given the power supply deficiency due to the non-availability of some power plants as well as the massive power outages caused by Typhoon Glenda on Wednesday.

 “Electricity expenses remain one of the biggest costs of production for many of the local industries especially since the Philippine has one of the highest power prices in Asia and the world. And the lack of supply forces electricity prices further up negatively affecting commodity prices and ultimately, Filipinos’ budgets,” the FPI said in a statement.

FPI lamented that Redondo Peninsula Energy’s 600-megawatt Subic power plant project has been stalled, adding that it could provide much needed power given the country’s precarious situation.

The project was supposed to be completed by next year but a still-unresolved case in the Supreme Court is stalling the project.

President Aquino had signified his support for RP Energy in his 2013 State-of-the-Nation-Address but one year after, the legal roadblocks to the project still remain.

 “We believe emergency powers for the President will help fasttrack power projects and minimize or even remove obstructions to their development. In the end, we must all look at the bigger picture,” FPI said.                    

 

 

ARRANZA

DISBURSEMENT ACCELERATION PROGRAM

FEDERATION OF PHILIPPINE INDUSTRIES

JESUS ARRANZA

POWER

PRESIDENT AQUINO

REDONDO PENINSULA ENERGY

SUPREME COURT

TYPHOON GLENDA

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