Aboitiz Power Corporation and subsidiary Visayan Electric Company Inc. recently organized a two-day "Power 101" session for media professionals covering the energy sector.

Experts from the Department of Energy (DOE) Electric Power Industry Management Bureau and faculty from the University of the Philippines Los Baños (UPLB) Department of Economics provided insights into the Philippine power sector, discussing market dynamics, policies, regulations, and Cebu’s energy landscape.

The DOE shared projections for Cebu’s peak demand, expected to grow from 630.85 megawatts in 2023 to 940 megawatts by 2032. They also presented the Philippine Energy Plan 2023-2050, aiming to increase renewable energy to over 50% by 2050, repurpose coal facilities, and introduce nuclear and offshore wind energy.

In 2023, the Philippines’ power generation was 62% coal, 22% renewable, 12% natural gas, and 4% oil-based. UPLB speakers addressed economic concepts and methods relevant to the energy sector, noting that power plants require an average of seven years to build, crucial for long-term energy security.

The seminar covered the Electric Power Industry Reform Act (EPIRA), the Wholesale Electricity Spot Market (WESM), government taxation, subsidies, and regulatory frameworks aligned with UN Sustainable Development Goals (SDGs) and ASEAN energy standards.

“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 Queenie Bronce. "We hope the seminar equipped [media professionals] with the tools and knowledge to better engage with the power industry."

Visayan Electric serves as the Philippines' second-largest private electric distribution utility, covering key cities and municipalities in greater Metro Cebu. AboitizPower oversees the Aboitiz Group’s investments in power generation, distribution, and retail electricity, aiming to uplift Filipino communities and support a sustainable future.