Metro Manila, Philippines – President Ferdinand Marcos Jr. assured that the government is undertaking measures to secure electricity supply, with the country also reaching out to trade partners for guaranteed fuel stocks amid surging oil prices.
In a vlog on Sunday, March 22, Marcos said that the government is talking with power generation firms to increase grid capacity in the next 60 days.
He said 23 power projects that could provide 900 megawatts are also expected to be online.
“Ongoing din ang koordinasyon sa paggamit ng Malampaya natural gas na full capacity para madagdagan naman ang supply natin sa kuryente,” he said.
[Translation: There is also an ongoing coordination to utilize the full capacity of the Malampaya natural gas project to boost our electricity supply.]
RELATED: Philippines discovers natural gas field near depleting Malampaya – Marcos
The Energy Regulatory Commission (ERC) earlier advised distribution utilities to efficiently utilize the contracted capacities under existing power supply agreements to provide electricity in the least cost manner.
The DUs were also told to implement all orders and decisions with rate impacts taking effect no earlier than July to avoid coinciding with anticipated increases in power costs.
ERC chairperson and CEO Francis Saturnino Juan warned of possible power rate hikes over escalated tensions in the Middle East and the looming dry and hot season.
Juan has not given an exact amount, but the rate increase may be driven by higher generation costs. He said the country is dependent on imported fuel resources, which are primarily used for power generation.
Fuel supply
Marcos also said the government has held productive discussions with trade partners such as India to secure fuel supply.
He said the Philippines is in talks with China, Japan, Thailand, Brunei, and South Korea for possible supply arrangements.
In a statement on Sunday, the Department of Energy (DOE) said it has authorized the temporary and controlled introduction of Euro 2 petroleum products for select transport and industrial uses as a contingency measure.
Fuel subsidy for agri sector
Meanwhile, the Department of Agriculture (DA) said it is set to distribute the fuel subsidy for farmers after securing the P50 million sub-allotment for the program.
The DA will provide P5,000 each to around 9,750 eligible farmers who rent or own mechanized equipment.
The DA said the funds were released after the 30-day average of global oil prices, based on the Mean of Platts Singapore, reached $89.02 per barrel as of March 13, as certified by the DOE.
Agriculture officials on Saturday said more than 10,000 fisherfolk in the country have so far received their P3,000 fuel subsidy.
The agency is awaiting the signing of a supplemental agreement by the Development Bank of the Philippines to get an additional P50 million for around 15,000 more fisherfolk that are based in fifth-class towns.
On rice
In his vlog, Marcos hinted at the possible imposition of a P50 price cap for imported rice, following the recommendation of Agriculture Secretary Francisco Tiu Laurel Jr. amid suspected profiteering.
“Napapag-usapan din ang paglalagay ng price cap muna sa bigas. Abangan po natin ito,” the president said.
[Translation: The imposition of a price cap on rice has been discussed. Let’s wait for an update on this matter.]
Marcos said the P20 subsidized rice is available in over 170 local government units.
RELATED STORIES:
- Marcos appeals vs. hoarding, cites normal food supply, prices
- No price increase for basic goods for 30 days – DTI
- China to continue fertilizer exports – Tiu Laurel
