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Philippines
Friday, January 17, 2025
25.5 C
Philippines
Friday, January 17, 2025

Business chamber launches power alliance initiative

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The Cebu Chamber of Commerce and Industry (CCCI) is establishing a pioneering “Power Alliance” initiative to address the growing energy demands of one of the Philippines’ key economic centers.

The development comes at a critical time as Cebu’s industrial and commercial growth continues to drive increasing power requirements, highlighting the importance of collaborative approaches to energy security in expanding economic hubs.

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“We’re looking into expanding our power committee with this alliance to support sustainable economic growth through enhanced coordination between business stakeholders and energy sector partners,” said CCCI president Jay Yuvallos.

“As businesses expand and new industries emerge, ensuring reliable and affordable power becomes increasingly crucial for maintaining competitiveness,” said Yuvallos.

The significance of the initiative is underscored by Department of Energy data showing Cebu’s current demand at 1,223 megawatts, compared to its local generation capacity of 1,123 MW.

This deficit underscores two critical challenges for Cebu’s power security, including the urgent need to expand reliable local generation capacity and the region’s significant dependence on the broader Visayas transmission network, including interconnections with Luzon (via Leyte) and Mindanao.

Addressing both aspects—through increased embedded generation and enhanced transmission infrastructure—is imperative for sustaining Cebu’s economic momentum and maintaining its attractiveness as an investment destination.

“Our power alliance aims to create a collaborative platform where businesses, power providers, and stakeholders can work together effectively,” Yuvallos said. “This initiative reflects our commitment to supporting both large industries and MSMEs in their growth journey through reliable power infrastructure.”

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