With rising prices of oil affecting the price of coal, Visayan Electric has warned big industries under its franchise area to prepare for a possible power shortage this summer. | Photo courtesy of Veco
CEBU CITY, Philippines — The business industry is urged to prepare for a possible power shortage this summer.
Kenneth Co, the newly sworn president of the Cebu Chamber of Commerce and Industries (CCCI), said they have been warned by Visayan Electric that because the oil price hike also affects the price of coal, power may eventually be in shortage this summer 2022.
Although there is a chance for the global market to change in the coming months, the CCCI encourages businesses that consume a large amount of power to take advantage of the Electric Power Industry Reform Act (EPIRA).
Co said that under the amended EPIRA Law, entities or institutions that consume at least 100 megawatts (MW) of power can get their source directly from distributors.
This means that they are no longer reliant on Visayan Electric alone, which is the sole provider in the whole of Cebu.
“We started talks with VECO and they have been giving us advice. What VECO is saying, is they even expect a power shortage to happen in summer, let us also prepare for that.”
“In the meantime, we will help our members. There is the EPIRA Law, which allows businesses to connect directly to the NPC (National Power Corporation). Businesses can get the power at a lower cost,” said Co.
Businesses can get power directly through Meralco and Aboitiz Power subsidiaries such as Prisam Energy, Vantage Solution, Global Energy Supply, and many others.
Co said that availing this Green Energy Option Program would help businesses cut the cost for energy.
The program is only available to big power consumers with usage of 100 MW per day. The program should cut energy costs by millions per month.
Former CCCI president, Felix Taguiam, said that the price of power in Cebu is really high and should be looked into by the government.
He said that the cost of power can bring in or drive away investors. /rcg
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