Cebu needs more power investments

Power is becoming a major and crucial staple to support Cebu’s continued economic expansion.

And the province needs to see more power investments moving forward to sustain its growth momentum.

More investments in Cebu’s energy sector is especially important considering the province is still highly dependent on power sources from its neighboring provinces, said Department of Energy assistant secretary Redentor Delola in an interview yesterday on the sidelines of the 2018 Visayas Energy Investment Forum in Cebu City.

The energy official said "resiliency" is very important for Cebu’s energy sector given that the island isn't self-reliant yet when it comes to its power needs.

Industries have continued to expand in Cebu, raising the demand for power.

The construction boom and the expansion of BPO (business process outsourcing) operations in Cebu are driving demand for electricity.

Demand from household consumers is also soaring as population in the city continues to expand.

In the next three years, Delola said Cebu's power outlook is stable but pointed out it has to see new projects to keep up with future demand.

He cited the municipality of Compostela and Mactan Island as potential sites for prospective power plants that investors may consider to put up in Cebu.

Most of the major power plants in Visayas are located in Leyte, which are supplying the power needs of Cebu and Bohol.

During the forum yesterday, Glenn Soco, infrastructure development chair at the Regional Development Council, said the RDC is proposing to create a masterplan for energy investment and infrastructure development in the region.

"We need this masterplan for infrastructure and energy related investments to harmonize these plans," Soco said.

The businessman said the economic developments particularly in Cebu has raised the need for more investments in energy.

"These present opportunities for us to venture, invest and get something from these developments," the official said.