SONA 2022: ICSC responds to President Marcos, Jr.’s energy roadmap
Reiterates calls for renewable energy push, abolition of pasa-load, reduction of power cost, and increase in power supply QUEZON CITY, 26 July 2022 – Reacting to President Marcos, Jr.’s pronouncements in his first State of the Nation Address citing cheap and reliable energy as a fundamental requirement for economic growth, ICSC Senior Policy Advisor Pete Maniego said: “ICSC agrees that the Philippines should increase the level of energy production to meet its current demand. It should take advantage of the best technology available, especially in the area of renewable energy. “The Philippines has one of the lowest [...]
Profiting from outages
Windfall earnings from spot market spikes go to a blessed few, while the public chafes under rising electric bills. by Atty. Pedro Maniego Jr. | March 26, 2022 | Published by BusinessMirror | READ THE STORY HERE POOR Filipinos. On top of their suffering from the pandemic, they have to cope with ever-increasing electricity prices. Lower economic activity during the lockdowns resulted in lower power demand. But why did electricity costs remain high during this period? The higher rates are mainly traceable to higher spot market prices. Theoretically, available base load supply is more than enough to meet current [...]