Philippine Economic Society Hosts Power Outlook Forum
The Power Outlook
A forum on the impending power crisis
1:30pm, Tuesday, 29 June 2010
Romulo Hall, G/F NEDA sa Makati Bldg.,
106 Amorsolo St., Legaspi Village, Makati City
please call (02) 332 4005 / (02) 215 5367 for more details
or send an email to pes.eaea@gmail.com
Fees:
PES Members - Free admission
Students (with School IDs) - Free admission
General Public - P1,000.00 inclusive of snacks
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Philippine Economic Society Hosts Power Outlook Forum
The Philippine Economic Society (PES) is hosting The Power Outlook: A Forum on the Impending Power Crisis from 1:30 pm to 5:30 pm on Tuesday, 29 June 2010, at the Romulo Hall, NEDA Building, Amorsolo St., Makati City.
Under the EPIRA, the government is no longer supposed to put up power plants. Private sector power generation companies are expected to supply new generation capacity, but there is a perception that private sector players are reluctant to commit to new investments. The forum will try to address the following questions: What are some of the perceived barriers to putting up additional capacity? What is the actual supply and demand balance in the power sector? What are some of the key issues on electricity pricing? Is the country facing another impending power crisis in the short- or medium-term?
Lined up as panelists are Commissioner Rauf Tan of the Energy Regulatory Commission (ERC); Dr. Alan Ortiz, former president and chief executive officer of Transco, Inc.; and Victor Santos, Jr., a senior vice president of First Gen Corporation. The moderator will be Peter Wallace, president of The Wallace Business Forum.
Commenting on the current power situation, Dr. Ortiz notes: “Mindanao will continue to suffer shortfalls in power supply in the next three years until new capacity is brought onstream thru private sector investment. The Visayas will have a brief respite next year when 400 new megawatts of electricity become commercially available. But this new capacity will not last long as demand for power surges in Cebu and elsewhere. Luzon will enter supply demand equilibrium next year, resulting in intermittent brownouts until new supply comes in by 2012. The real challenge is to build new capacity in the next five years to address surging demand.”
Further, he points out that “the situation is not hopeless if we act immediately to close the supply gap. At this point, only the private sector can provide the much-needed financing for about 8,000 new megawatts in Luzon alone. At US$1.6 million per megawatt, this amounts to about US$12.8 billion or 602-billion pesos. With a budget deficit of 300-billion pesos, it is hard to imagine where government can raise the funds for Luzon's new power requirements alone.”
“And government shouldn’t,” adds Peter Wallace. “One of our goals in this power forum is to arouse interest within the private sector in building power plants. And for companies to be aware of what to expect if this doesn’t happen”.
The Philippine Economic Society (PES) is the professional organization of Filipino economists and, over the years, has served as one of the strongest networks of economists in the academe, government and business sector. The PES continuously provides a venue for open and free discussions on a wide range of policy issues through its conferences and symposia.
The Power Outlook forum is supported by the Friedrich Naumann Foundation (FNF), which is dedicated to the belief that a functioning democracy needs politically informed and educated citizens. The FNF promotes individual freedom and liberalism.
Attendance to The Power Outlook forum is open to the public for a minimal registration fee. Registration is free for PES members and qualified students. As seats are limited, interested participants are requested to pre-register with the PES Secretariat (email: pes.eaea@gmail.com or telefax 332 4005).
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