Cebu media attend Power 101 hosted by AboitizPower, Visayan Electric

Cebu City — Aboitiz Power Corporation and its subsidiary Visayan Electric Company Inc. (Visayan Electric) hosted a two-day Power 101 session for the members of the Cebu media covering the energy beat.

Representatives from the Department of Energy’s (DoE) Electric Power Industry Management Bureau and faculty members from the University of the Philippines Los Baños (UPLB) Department of Economics provided an overview of the Philippine power sector and the energy markets; the policy and regulations that influence it; along with the current state, challenges, and future prospects of the electric power sector in the island of Cebu.

In its presentation, the DoE indicated that Cebu island’s peak demand is projected to increase from 630.85 megawatts in 2023 to 940 megawatts in 2032.

The DoE also outlined the Philippine Energy Plan 2023-2050, which intends to increase the share of renewable energy to more than 50% by 2050; repurpose coal facilities; as well as add nuclear and offshore wind capacities to the power mix.

In 2023, 62% of power generation in gigawatt hours in the Philippines was from coal, 22% from renewable energy, 12% from natural gas, and 4% from oil-based sources.

“Speakers from the Department of Economics elaborated [on]... relevant economic concepts, tools and methods [that] accompany the discussions [covering] the energy sector, as well as electricity,” UPLB faculty members said. “Emphasis was placed on [the] specificity of electricity as a service and its importance in economic growth and development.”

Faculty members from UPLB noted that, on average, it takes seven years to build a power plant. This is an important consideration in supporting energy security for the province and the country.

Some highlights of the training include the Electric Power Industry Reform Act (EPIRA); the Wholesale Electricity Spot Market (WESM) as an institution and its mechanisms; government taxation and subsidies for electricity; and national regulatory frameworks that align with the United Nations Sustainable Development Goals (UN SDGs) and the ASEAN framework on energy.

“The energy sector is a vital part of our daily lives, but its complexities can sometimes be difficult to grasp,” said Visayan Electric Reputation Enhancement Manager Quennie Bronce. “We hope the seminar equipped [media professionals] with the tools and knowledge to better engage with the power industry.”

Visayan Electric is the second largest private electric distribution utility in the Philippines, with a franchise area covering the cities of Cebu, Mandaue, Talisay, and Naga, including the four municipalities of Liloan, Consolacion, Minglanilla, and San Fernando in greater Metro Cebu.