ILOILO CITY — Mayor Jerry Treñas has emphasized the urgent need for additional reliable power sources to support the burgeoning demand driven by the city's rapid economic expansion.
According to Philippines News Agency, during a courtesy visit by Manila-based reporters, there is a critical need for investment in baseload power plants on Panay Island to accommodate the city’s fast-paced economic growth, which is reflected in its 9.6 percent GDP (gross domestic product) increase. The mayor underscored the importance of such investments to ensure the steady supply of power necessary for the city's ongoing development and to prevent future power shortages.
The call for more baseload power comes in the wake of a region-wide blackout in January, when two major power plants on the island experienced technical failures, resulting in significant economic losses for Iloilo City estimated at PHP500 million per day during the outages. This incident highlighted the vulnerability of the local economy to power disruptions and underscored the importance of enhancing the power infrastructure to meet the city’s annual power supply demand growth of 6 to 7 percent.
Despite these challenges, Iloilo City has continued to attract investors, particularly in the business process management and tourism sectors, including activities such as meetings, incentives, conferences, and exhibitions. Treñas pointed out that while power issues have been a concern, the city's attractiveness to investors remains high, a fact he attributes to the stable investment climate and the local government's decision not to increase property taxes for the past 18 years.
The mayor expressed optimism that the establishment of additional baseload power plants would not only address the current power supply issues but also catalyze further investments into the city. He reassured potential power investors of the national government's commitment, under the administration of President Ferdinand R. Marcos Jr., to ensuring a stable power supply for the region's continued economic development.