By Alena Mae S. Flores Posted on Jan. 25, 2013 at 12:01am
The Philippine Independent Power Producers Association on Thursday urged the Energy Department to prepare the power sector for an increase in demand due to an expected robust economic growth this year, as reflected by the strong performance of the stock market.
PIPPA, the association of the country’s independent power producers comprising of the country’s biggest power companies, said the government should assure sufficient supply of reliable and competitively-priced electricity in anticipation of increased investments in the country.
PIPPA in a statement cited the reports on the Philippine economy beating growth forecasts and the ensuing high power demand.
PIPPA president Ernesto Pantangco said the government should take advantage of the momentum signalled by the latest gross domestic product figures and the historic highs in the Philippine Stock Exchange.
Several local and foreign agencies forecast the GDP to expand over 6 percent to 7 percent this year.
“Given the latest developments, it is already necessary to put up the necessary infrastructures that will secure the continuous supply of electricity,” Pantangco said.
Pantangco added building reliable, adequate and competitively-priced power supply by baseload power plants were the key to meeting the country’s energy supply needs.
“An unreliable power system charging high energy costs dissuades investments and investors both in the short and long term. Baseload power plants that run on coal or natural gas produce energy at a constant rate, usually at a more competitive cost relative to other power facilities available to the system,” he said. source
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