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First Gen tapped to energize PSE Tower with renewable power

PHILIPPINE STAR/KJ ROSALES

THE Philippine Stock Exchange, Inc. (PSE) has tapped Lopez-led energy firm First Gen Corp. to supply renewable energy (RE) for the PSE Tower in Bonifacio Global City.

In a media release on Thursday, First Gen announced that the Philippine Stock Exchange at One Bonifacio High Street Condominium Corp. (PSE-OBHS) had renewed its retail electricity supply contract, ensuring a direct supply of electricity for the tower.

Under the agreement, First Gen will supply up to 5.1 megawatts (MW) of electricity to the PSE Tower, with the power sourced from its geothermal plant in Leyte, operated by its renewable energy subsidiary, Energy Development Corp. (EDC).

PSE President and Chief Executive Officer Ramon S. Monzon said the renewal of the agreement reflects the exchange’s continued commitment to sustainability.

“Climate change is a very real risk to all of us, and we must do what we can to mitigate our impact on the environment… By making sure that our place of business utilizes 100% RE and through strict adoption of relevant sustainability efforts, the PSE can continue to reduce its carbon footprint,” Mr. Monzon said.

To date, First Gen’s total capacity stands at 3,668 MW, sourced from its geothermal, wind, hydro, solar, and natural gas plants.

The company’s renewable energy portfolio consists of 1,651 MW of installed capacity from geothermal, solar, wind, and hydro power plants.

At the stock exchange on Thursday, First Gen shares declined by 0.37%, closing at P16.16 per share. — Ashley Erika O. Jose

How each segment contributed to Q1 2025 GDP

THE PHILIPPINE ECONOMY grew by a weaker-than-expected 5.4% in the first quarter, reflecting heightened uncertainty arising from the Trump administration’s tariffs. Read the full story.

Disney earnings soar on resilient streaming, US parks revenue

LOS ANGELES — In an earnings quarter teeming with uncertainty around tariffs, Walt Disney’s quarterly results are looking like the happiest place on earth.

The media giant exceeded expectations in its most recent quarter, bolstered by an unexpected boost in its Disney+ streaming business and strong results from its theme parks that suggested consumer resilience despite a turbulent global economic environment.

“Despite questions around any macroeconomic uncertainty or the impact of competition, I’m encouraged by the strength and resilience of our business,” Disney CEO Bob Iger said.

The entertainment giant released its earnings report shortly before announcing plans for a new theme park in the United Arab Emirates capital Abu Dhabi. Shares of the company rose nearly 10% in early trading as it posted adjusted earnings per share of $1.45 for the January-to-March quarter, beating the $1.20 analysts’ consensus as polled by LSEG.

“At a time when so many businesses in the US are worried about the potential impact of tariffs on consumer spending, on household budgets, Disney is feeling confident,” said Danni Hewson, head of financial analysis at AJ Bell.

The company — unlike many other blue-chip companies — voiced a lofty outlook for the rest of the year. Disney is leaning on its streaming business to grow profits as traditional television declines and to expand its popular theme parks and cruise line in the midst of a shaky US economy.

Revenue rose 7% to $23.6 billion. Analysts had expected $23.14 billion. Operating income came in at $4.4 billion.

Disney forecast adjusted earnings per share of $5.75 for fiscal 2025, an increase of 16% from the prior fiscal year.

The company reiterated guidance for 6% to 8% operating income growth in the parks-led Experiences division during the fiscal year, and for double-digit percentage operating income growth during that time in the entertainment unit.

Disney Chief Financial Officer Hugh Johnston told investors that “the outlook is actually still quite strong” for the company’s Experiences unit, with bookings up in the fiscal third and fourth quarters. Theme park attendance “is actually still quite good.” The lone exception is at Shanghai Disney Resort and Hong Kong Disneyland, where attendance has dropped, which he attributed to the Chinese economy.

Mr. Iger said Disney’s newest cruise ship, Disney Treasure, has attracted “sky high” consumer ratings; and the new vessel to be ported in Singapore is already attracting interest. He predicted the cruise line would become a growth driver for the Experiences segment over the next three to four years.

Disney said it picked up 1.4 million customers for the Disney+ streaming service during the just-ended quarter. Three months ago, it had warned of a modest decline in Disney+ subscribers following a price increase.

Its Hulu service added 1.1 million customers during the quarter, and operating income at the streaming division rose to $336 million. A year earlier, operating income stood at $47 million.

Mr. Iger told investors Disney is optimistic it can turn its streaming business into a “true growth business,” as it adds ESPN’s flagship live sports streaming, improves technology to allow for greater personalization, and invests in content outside of the US.

The entertainment unit reported total operating income of $1.3 billion, a 61% increase from the prior year.

Mr. Johnston told investors Disney continues to see “robust demand” from advertisers, particularly from restaurants and healthcare.

Mr. Iger touted the box office performance of the latest Marvel movie, Thunderbolts*, and the strength of the coming film slate, which includes a new Pixar Animation movie, Elio, Walt Disney Animation’s Zootopia 2, and Avatar: Fire and Ash.

At the Experiences unit, operating income rose 9% to $2.5 billion. The company also saw an increase in cruise ship bookings with the launch of a new vessel, the Disney Treasure.

Disney stock has fallen 17% this year compared with a 4.7% decline in the S&P 500. The shares have fallen 6.6% since April. — Reuters

Oscar-winner Paul Haggis cleared of sex charges in Italy, lawyers say

MILAN — An Italian judge has dismissed a case against Oscar-winning screenwriter and director Paul Haggis for alleged rape, his lawyers said on Wednesday.

Mr. Haggis, 72, was detained in June 2022 and spent 14 days under house arrest after a British woman accused him of raping her over a two-day period in the southern Italian town of Ostuni in the Puglia region, where he was teaching at a film event.

The court judge in the nearby city of Brindisi ruled no sexual act took place without consent, Mr. Haggis’ lawyers said.

“For Mr. Haggis, it is the end of a nightmare that has unfairly shattered the career of a film genius and 2006 Oscar winner,” lawyers Michele Laforgia and Daniele Romeo said in a statement.

Mr. Haggis co-wrote and directed Crash, a 2004 crime drama for which he won two Oscars, and also wrote Million Dollar Baby, a sports drama directed by and starring Clint Eastwood, which was released the same year.

The lawyer of the woman who filed the complaint against the screenwriter was not immediately available to comment.

In November 2022, a New York jury ordered Mr. Haggis to pay $10 million in damages for raping a publicist in his apartment nine years earlier. — Reuters

New hire with Latin honors given clerical tasks

I’m a recent graduate with top honors from a prestigious university. When I was hired by a major corporation, our department head assigned me to work in the back office, encoding and filing documents. After one month, I realized that management was not doing justice to my academic achievements. I’m planning to resign and look for another job. Is that a wise decision? — Pink Lotus.

Of course, not! Resigning from a job due to unfulfilled expectations would not bring you any happiness or career success, from both a short-term and long-term perspective. Don’t confuse a slow start with a dead end. At the very least, you should talk to your management about your concerns to be properly enlightened about your current situation.

Having an impeccable academic record from a top university but with zero corporate experience often leads to expectations that success must be instant and dramatic. It’s not as simple as that.

First, you should prove your worth by doing menial tasks and excelling at them. Efficiency is one gauge, but so is improving the work process, among other things.

At that early stage, you should not expect to lead a project team, manage an irate customer, or make a difficult decision for the department. You need to start at the bottom even if you think you don’t deserve it.

You must prove your worth in entry-level jobs and gradually move up with the help of consistent wins, big and small, along the way.

Therefore, if you’re not sure, you need to clarify management’s intentions. I’m sure they have a road map for all new employees. If there’s none, then create one for yourself and seek management approval. Some major industries, have a Management Development Program (MDP), which is often a career map for people singled out as having potential.

MDPs are typically one-year structured training programs to help young people achieve their full potential while trying to work their way up. It is beneficial for employers as it creates a pool of management talent whose potential is validated. They’re soon assigned to different departments, say, after three months or as soon as opportunities come in.

BE STRATEGIC
What should you do? Think long and hard. Keep your arrogance in check. Be humble but strategic. A resignation can give you the impression that you’re in control of your dreams. You may very well not be. It may not adversely affect your image on a resume to take a one to three-month break after graduation. But that’s not the point.

After all, being assigned to the back office is not permanent. In many cases, an MDP has a maximum one-year period, sometimes 15 months. There’s nothing to worry about. As soon as you’ve proven your interest and value, and there’s a job vacancy elsewhere, you’ll be assigned to an area of your choosing.

That’s on the condition that you pass the interview requirement imposed by those departments. In the meantime, do the following:

One, do a deep dive of the organization. Know personally the people who have the influence or power to move mountains. Discover the cultural dynamics and the unwritten corporate rules. Understand how and where the real value is created, and how that propels the career advancement of young professionals. 

Two, use your current assignment as a career laboratory. Learn how the business works. Find a connection between encoding and its impact on the business. Ask yourself: Why can’t we “assign” this job to customers using technology? Calculate the potential savings from dedicating your time and talent elsewhere. Better if you can think of a low-cost solution.

Three, build friendly, enduring, and warm ties. Impressing them with your academic credentials doesn’t matter unless you give them value as friends. Even if you possess unique skills in the organization, you’ll find yourself on the losing end if they see you as an opportunist.

Four, volunteer for difficult projects that matter. If there are none, busy yourself with low-hanging fruit. Make the small wins a launch pad for your career moves. What’s important is growing exponentially with small improvements. It’s the best way to leverage your talent over time.

ONE-YEAR TIMELINE
Give yourself at least one year to discover the fit between you and the organization. Your formal performance appraisal may be due by that time. That’s assuming you’ve followed the advice of your boss. Most organizations do a periodic monthly one-on-one engagement dialogue. If that happens, that means you’re being closely monitored for something unacceptable.

If things don’t progress after one year, then plan your exit strategically. Start by sending out your resume to major organizations, preferably outside of your industry. Do it without emotion. Hatred can translate to a negative vibe that might derail your chances of getting a job elsewhere.

 

Bring Rey Elbo’s unique leadership program called Superior Subordinate Supervision to your organization. Send a DM on Facebook, LinkedIn, X, or e-mail elbonomics@gmail.com or via https://reyelbo.com.

End-March 2025 PHL Debt-to-GDP ratio soars to 62%, highest since 2005

NATIONAL GOVERNMENT (NG) debt as a share of gross domestic product (GDP) rose to 62% at the end of the first quarter, the highest in 20 years. Read the full story.

Musings on serenity

FREEPIK

Why do people travel? (Or daydream about it when physical travel is not possible?)

One needs to shift to low gear and shut out everything familiar. Leisure travel rejuvenates the body and energizes the spirit. Crossing time zones is a delightful but exhausting exercise.

Geographical distance makes one shed the city skin and crusty attitude. Perspective improves in a different environment. Problems seem diffused and recede into the background. Worries melt away as the mind recharges in a stress-free mode.

One blinks to experience other facets of nature — the seasons in a temperate zone.

Retracing the old paths, one feels a spark. The earth-tugging ache blends with the novelty of a new vibe. It is rediscovering the past and seeing it with a new pair of eyes in a dreamy light.

The vibrant city, with its two mountains, is more alluring than ever. The iconic landmarks — the famous basilica, a work in progress with its surreal organic towers and the rainbow-stained glass windows, the Medieval cathedral in the Gothic barrio, the fantasy park, the wide avenidas, paseos and rotundas with sparkling fountains that glow after a downpour. Walking in the rain is always refreshing. It makes one feel light-hearted.

The elegant villa, isolated on a hill with a panoramic view, was a second home. Surrounded by flowering trees and insulated from distractions and outsiders, it was a place for study and to learn about the old world, its different cultures. The student needed to grow up, and to sprout the wings of independence. It was a big challenge to be transplanted at a young age and to adjust — at the beginning.

But it opened the mind to knowledge and brought wonderful changes through new friendships that bridged countries and cultures.

Many years later, the old bonds remain as the friendships have been rekindled and nourished.

The third home was a different villa with towering cypress trees on one hill of the eternal city. It offered exciting academic challenges, and new travel and artistic adventures. The historical place had basilicas, museums, majestic gardens with countless fountains and umbrella pine trees, a piazza with an obelisk, stately monuments and ancient ruins. The images and feelings of that year are forever etched in the mind and heart.

The years fly by quickly. One keeps returning to the past haunts — during the seasons of spring and autumn. Despite time and distance, the enchantment and deep attachment linger.

One shifts to another time zone at a mountain retreat. What could be more exhilarating than ascending to the peak in a cable car and being on top of the world? A place filled with pure snow and intricate snowflakes.

A passing light shower glazes the lush forest and meadows.

Raindrops glisten like icicles on the dark boughs of fir, pine, and birch trees.

Mist surrounds the mountains and the valleys. The scene is frozen in a time bubble.

The aroma of fresh pine wafts through the thin air. Oxygen is abundant and it pierces the nostrils and lungs. One inhales its pristine sweetness and is quickly intoxicated.

To bask in the golden sunshine with the breathtaking splendor of the mountain is a soulful experience.

The mental cobwebs melt away.

An eagle soars with the wind. It circles above and crosses to the next mountain. Fresh powder snow dusts the peak.

The sky becomes an infinite canvas as it turns vermilion, russet, and lavender. The sun dips into the horizon. One can hear the dramatic music of Beethoven’s violin concerto. An eclectic audience is enthralled by the music. During the final movement, light raindrops fall in a natural rhythm accelerating to a stirring crescendo. Symphonic music and a dramatic curtain call at sunset.

Twilight comes in shades of indigo, purple, and dark blue.

Soon it is nightfall. Only the sound of crickets, a rustling breeze, and the gurgling brook echo through the trees.

The crescent moon and stars slowly peek through the thinning clouds. At midnight, it is so quiet that one can almost hear the rocks grow.

At dawn, the sky is powder blue, dotted with delicate drifting white puffs. The pine scent mingles with the dew-kissed lawn. The lilting melody in the distance is water tripping over rocks of the stream.

At thousands of feet above sea level, the view is spellbinding and inspiring.

The splendid canvas of nature would be a creative challenge to interpret.

How can a human paint the perfect landscape? Only the Divine Artist can create it with celestial strokes and cosmic colors.

High above the world, one can understand why the mystics and the world-weary seek refuge atop a peak. Serenity provokes deep thought and meditation. One feels so close to heaven that one can see a glimpse of infinity.

 

Maria Victoria Rufino is an artist, writer and businesswoman. She is president and executive producer of Maverick Productions.

mavrufino@gmail.com

Good governance driving inclusive growth

I urge my fellow citizens to participate in the Philippine national elections by wisely casting your votes for candidates who share your values and will advocate for national issues important to you. It is our right and responsibility as citizens to elect officials who will guide our country toward a more equitable future. After all, in the words of Thomas Jefferson, “We do not have a government by the majority. We have government by the majority who participate.”

In previous columns, I have discussed the tremendous economic opportunity in the Philippines, with our young, growing population driving consumer spending for the next 40 to 50 years. At the same time, we continue to face global macroeconomic headwinds. In the 2024 World Competitiveness Ranking by the Institute of Management Development, the Philippines ranked 52nd out of 67 economies and 13th out of 14 Asia-Pacific economies. The time is now for our leaders and future leaders to implement policies and mechanisms to help the Philippines navigate these volatile times and become more globally competitive.

First and foremost, economic growth must be inclusive and broad-based so that all sectors of society will benefit. Inclusive growth directly tackles poverty reduction by creating better economic opportunities that translate into a stronger, more vibrant economy. The Philippine Development Plan 2023-2028 highlights this importance; however, an April 2025 survey of the Social Weather Stations showed that self-rated poverty rose, with 15.5 million families estimated to be self-rated poor. This is 15.5 million families too many, and we must elect a government that works for all Filipinos instead of the interest of a select few.

Second, good governance, transparency, and honest officials are vital in creating a stable business environment and attracting local and foreign investment. These reduce the risk of corruption that takes funds away from important projects that benefit society and instead enriches only a few. FINEX and other organizations like the Makati Business Club and the Management Association of the Philippines signed a statement calling for a transparent and accountable budget process in response to what President Marcos called a “sub-optimal” 2025 National Budget. The bicameral committee reduced allocations for programmed, priority projects of the government, instead reallocating funds to lower value local infrastructure projects and types of unconditional cash transfers. These projects are rife with corruption and enable pork barrel politics. The budget must be safeguarded, especially funds for essential public services such as healthcare and education. We must elect officials who uphold the standards of integrity, candidates who are beyond reproach, and candidates who have not had allegations of graft or corruption levied against them.

Department of Budget and Management (DBM) Secretary Amenah Pangandaman was the keynote speaker at a FINEX General Membership Meeting. She shared the DBM’s plans to ensure accountability in budget disbursements while inviting FINEX to participate in the Philippine Open Government Partnerhsip. She also stated that transparency and accountability are at the forefront of the DBM’s Agenda for Prosperity.

We also have to continue improving the ease of doing business to make the Philippines a competitive destination for investment. In 2023, the World Bank ranked the Philippines 95th out of 190 in terms of ease of doing business. Government reforms, such as the Ease of Doing Business and Efficient Government Service Delivery Act of 2018 and the formation of the Anti-Red Tape Authority, are steps in the right direction, especially as excessive bureaucracy also incentivizes corruption to facilitate transactions.

My economic wishlist is much longer and centered on electing public servants who will authentically serve the public. It includes developing long-term solutions to our energy and water problems, strengthening our agricultural sector, making our education system more globally competitive, incentivizing foreign investment, and negotiating trade agreements with like-minded partners. The task is daunting; we need the right leaders to get us there. Your vote is key in electing our leaders, so participate by voting wisely and supporting candidates who will work for the best interest of our nation.

The views expressed herein are his own and do not necessarily reflect the opinion of his office as well as FINEX.

 

EJ Qua Hiansen is the CFO of PHINMA Corp. and president of the Financial Executives Institute of the Philippines.

Data center expansion set to accelerate in PHL, STT GDC says

BW FILE PHOTO

ST TELEMEDIA Global Data Centres (STT GDC) Philippines is confident about the continued growth of data centers in the country as more businesses transition to cloud-first policies, according to its chief executive officer (CEO).

“In the Philippines, data center customers are predominantly still in the financial services sector, telecommunications, information systems-intensive applications, and the hyperscalers,” STT GDC Philippines President and CEO Carlomagno E. Malana said during the company’s “Practical Insights” event on Thursday.

“When you look at these enterprises and organizations, they all have a cloud-first policy now because it’s the most efficient way to harness, compute, and store resources,” he added.

A 2023 survey commissioned by Alibaba Cloud showed that approximately 85% of businesses in the Philippines are expected to transition to the cloud by the end of the year.

The rise in cloud adoption, coupled with the increasing use of agentic artificial intelligence, is driving the growth of data centers as companies continue to expand their IT infrastructure.

Mr. Malana also highlighted the opportunity for the Philippines to capture demand for data centers, citing the land and power constraints in more established markets like Singapore.

“Singapore is a city with a very small land footprint, so they have a problem with space and power allocation,” Mr. Malana said.

“Essentially, that’s caused other countries to become more viable for data centers, like Malaysia, Thailand, Indonesia, and the Philippines.”

Currently, the Philippines has a total data center capacity of 215 megawatts (MW), with 1,505 MW in the pipeline, according to Leechiu Property Consultants.

STT GDC Philippines, a joint venture between Globe Telecom, Inc., Ayala Corp., and ST Telemedia Global Data Centres, operates seven data centers in the country with a combined IT load of 150 MW.

The company expects to complete two new data centers — the 124-MW STT Fairview and 6-MW STT Cavite 2 — this year, with a combined investment of up to $1.56 billion.

“Data center costs are calculated by dollars per megawatt. The usual figure you hear ranges from somewhere around $11 to $12 million per megawatt — it can be a little bit less or more,” Mr. Malana said.

STT GDC is also working on completing the design for phase two of the STT Fairview data center by the end of this year. The Quezon City-based facility will be developed in four phases. — Beatriz Marie D. Cruz

How PSEi member stocks performed — May 8, 2025

Here’s a quick glance at how PSEi stocks fared on Thursday, May 8, 2025.

Senatorial bets push MSME growth and protection of local sectors from tariffs

By Kenneth Christiane L. Basilio, Chloe Mari A. Hufana and Adrian H. Halili, Reporters

SENATORIAL candidates in this year’s Philippine midterm elections will prioritize small business development, while cushioning local industries from a looming global trade war that puts economic growth, jobs and wages at risk.

They also vowed to push more jobs and measures that would boost food security amid rising global prices.

“The solution to that is jobs, jobs, jobs,” former Senator and pound-for-pound boxing camp Emmanuel “Manny” D. Pacquiao, who is running for a Senate seat on May 12, told BusinessWorld in Filipino. “I will push for massive investments in public infrastructure especially in rural areas and support programs for micro, small and medium enterprises (MSME).”

“People need livelihoods, not just dole-outs,” he said in a Viber message.

The government of President Ferdinand R. Marcos, Jr. has missed growth targets in the past two years, with economic output expanding by 5.5% in 2023 — below the 6-7% — and 5.6% in 2024, falling short of the 6-6.5% goal.

Mr. Marcos will enter the second half of his term this year, three years after pledging to revive an economy weakened by the COVID-19 pandemic, subdued consumption and lower farm output.

The Philippines is also under pressure to boost intra-regional trade as US President Donald J. Trump’s tariffs increasingly jam the wheels of a global economy that for decades had been oiled by predictable free trade.

BusinessWorld sought the comments of the top 18 senatorial bets in mid-April on key economic issues, but only Mr. Pacquiao, Las Piñas Rep. Camille Villar-Genuino, former Senator Panfilo M. Lacson and Party-list Rep. Erwin T. Tulfo replied.

“One of my top priorities will be to drive inclusive economic growth by empowering MSMEs,” Mr. Lacson said in a Viber message. “They are struggling due to limited access to capital, red tape and rising costs.”

MSMEs account for more than 99% of all businesses in the Philippines, generate 67% of the country’s total employment and contribute about 40% to gross domestic product (GDP), according to the United Nations Development Program.

Mr. Lacson said he would push measures that would simplify business rules, provide tax incentives and ease access to MSME loans.

Meanwhile, Ms. Villar said she would file bills that seek to boost the agriculture, manufacturing and service sectors, while reforms in business regulation and good governance would help attract investments.

“The country needs to focus on three critical areas — enhancing competition and global integration, investing in skills and strengthening institutions,” she added.

Mr. Tulfo said he would propose measures that would expand irrigation systems and support the construction of post-harvest facilities and extend assistance to local producers especially during crises.

“We will push for the effective implementation of the Ease of Doing Business law in the country so more investments will enter the country to generate more jobs for Filipinos,” he added.

NO NEW TAXES
All four candidates were reluctant to raise or introduce new taxes, focusing instead on improving tax collections.

“The government should first address the leakages in tax administration,” said Mr. Lacson, who championed the campaign against pork barrel funds when he was still a senator, before these were voided by the Supreme Court for being illegal. He vowed to strictly oversee the government budget if elected senator.

Finance Secretary Ralph G. Recto last week said the government was not looking to impose new taxes after the state met its revenue goals. The government collected P931.5 billion in revenue in the first three months.

Mr. Tulfo said he plans to oversee the implementation of the Ease of Paying Taxes Law, ensuring it is properly enforced to enhance revenue collection without introducing new taxes.

“I’m for tax implementation and honest tax collection, and going after those who evade taxes,” Ms. Villar said.

“I do not want to add more burden on the poor,” Mr. Pacquiao said. “Before discussing new taxes, we must first eliminate corruption and enhance tax collection efficiency.”

The senatorial candidates also vowed to file measures that would protect local industries and promote industry diversification amid US President Donald J. Trump’s sweeping reciprocal tariffs.

The Philippines should develop its domestic industries to cushion itself from global economic uncertainties, they said.

“We really must strengthen domestic production and commerce by supporting our local producers and MSMEs,” Mr. Tulfo said.

He said he would gather relevant agencies such as the Trade and Agriculture departments to devise a strategy that would cushion exporters from the looming global trade war.

“If we have reliable commerce in the country, we can replicate it by diversifying our exports to other countries,” he added.

Mr. Pacquiao said there’s a need to invest in industries the Philippines is strong at, such as agriculture, digital services and the creative industries.

“I will support trade diversification and push for better trade deals with the Association of Southeast Asian Nations (ASEAN) and Asia-Pacific nations to lessen reliance on US-China markets,” he added.

The government should prioritize the passage of a bill diversifying the country’s trade and investment partners, Mr. Lacson said. “Trades from undertapped regions like Southeast Asia, Africa and Europe should be incentivized through simplified export procedures, reduced tariffs and trade agreements,” he added.

“Before allowing measures that would free up trade restrictions, we should ensure that our own products are globally competitive,” Mr. Lacson said.

Ms. Villar said the Corporate Recovery and Tax Incentives for Enterprises to Maximize Opportunities for Reinvigorating the Economy (CREATE MORE Act) would “strengthen our ability to attract investors looking to expand or relocate to the Philippines, given the relatively lower tariffs imposed on our exports to the United States.”

Mr. Pacquiao and Mr. Lacson also cited the need to promote renewable energy such as solar, wind, and nuclear power.

The boxing champ said the country should seriously consider setting up nuclear power plants to support industry and household power needs.

Fiber optic technology could revolutionize power transmission by ensuring faster, more efficient and stable energy distribution across the region, he added.

“Unlike traditional copper wiring, fiber optics minimizes energy loss, reduces maintenance costs and improves overall power infrastructure resilience,” he said, adding that the country should upgrade its fiber optic networks nationwide to ensure connectivity.

ELECTRICITY PRICES
Mr. Lacson said access of Filipino farmers to alternative energy sources should be improved, while tax incentives should be given to renewable energy generation companies.

“Lawmakers can also use their oversight powers to look into whether existing laws on electric cooperatives are being implemented properly,” he said. “The Senate should move for an audit of all add-on charges on electric bills, such as contract costs, universal charges and system losses.”

Mr. Lacson also proposes to put a cap on system losses, which are passed on to consumers, to lower electricity prices.

“Since consumers bear the brunt, power generation companies tend to become lax in rendering services. Thus, in effect, we consumers are rewarding them for not doing their job,” he added.

Mr. Lacson said changes to the Electric Power Industry Reform Act should include transparency in power supply agreements between distribution and generation companies to prevent pass-on costs detrimental to the public.

Ms. Villar plans to cut the “excessively high 15% weighted average cost of capital,” which she said raises electricity costs.

She also wants to review all “unfair and fraudulent contracts, power shortages and delayed transmission projects that directly affect consumers.”

Meanwhile, Mr. Pacquiao and Mr. Tulfo want to amend the Rice Tariffication law.

“Support local production,” Mr. Pacquiao said. “I will push for the review of the Rice Tariffication law and give more subsidies to our rice farmers.”

Mr. Tulfo said restoring the power of the National Food Authority to buy and sell rice “will pave the way for cheaper options and competition,” as traders and middlemen continue to manipulate farmgate and retail prices.

Ms. Villar, whose mother was the principal of the Rice Tariffication law, said she would push the appointment of an official responsible for keeping rice prices stable.

“I am for the designation of a rice czar who will complement the Agriculture secretary in efforts to maintain the price of rice,” she said. “He will also manage the sustainability of rice in the market.”

“I will file a ‘Farmer First’ law — more budget for irrigation, mechanization and farm-to-market roads,” Mr. Pacquiao said. “We need food terminals and cold storage facilities so that farmers don’t lose money.”

Ms. Villar said that she would support state efforts to modernize agriculture by mechanizing farm processes, improving farm and post-harvest infrastructure, enhancing logistics and adopting science-based strategies.

Power failure threatens integrity of May 12 Philippine elections

PHILSTAR FILE PHOTO

By Ashley Erika O. Jose, Reporter

BROWNOUTS have been a recurring problem for the Philippines during summer, and Monday’s midterm elections won’t be spared from a looming power interruption that threatens their integrity, according to climate scientists.

“Although elevated electricity demand during the summer contributes to power supply issues experienced during these months, forced outages of baseload power plants have constantly exacerbated the situation,” said Jephraim C. Manansala, chief data scientist at Manila-based think tank Institute for Climate and Sustainable Cities (ICSC). 

The Luzon and Visayas grids are projected to run out of adequate power reserves this year, while the Mindanao grid is expected to keep normal reserves this summer, he told BusinessWorld in an interview.

“Power plant outages especially unplanned ones, and plants running at a derated capacity could severely disrupt the balance between supply and demand, significantly hindering the grid’s ability to meet the country’s growing energy needs, especially during peak demand hour,” Mr. Manansala said.

In 2024, NGCP recorded 16 red alerts and 62 yellow alerts. This year, the Luzon grid has only been placed under yellow alert on March 5, according to the NGCP website.

Senator Sherwin T. Gatchalian has urged the National Grid Corp. of the Philippines (NGCP) and Department of Energy (DoE) to ensure enough electricity supply in the summer months, particularly this month as Filipinos vote for a new set of congressmen, half of the 24-member Senate and thousands of local officials on May 12.

Gerry C. Arances, executive director at the Center for Energy, Ecology and Development (CEED), blames the country’s continued reliance on coal for its power supply instability.

“Coal and gas plants going on unscheduled outages and triggering red and yellow alerts is the direct result of dependence on fossil fuels,” he said in a text message. 

The Philippines is heavily reliant on fossil fuels, with coal accounting for more than 60% of its power mix. Natural gas and oil-based sources also contribute significantly. While the country is rich in renewable energy resources like geothermal and biomass, their use is less extensive.

Energy Secretary Raphael P.M. Lotilla earlier said the country might be in a better situation this year because several power projects are coming online and newly energized transmission lines could deliver more output.

On Monday, he said there would be stable and reliable power supply on May 12.

“We’d like to assure everyone that the Energy Task Force on Elections is doing its best to ensure unimpeded power supply during the election period,” Energy Undersecretary Felix William B. Fuentebella said in a statement.

He said generating companies have committed to avoid unplanned outages during the elections.

He added that there had been issues or concerns about the power lines in the Visayas and Mindanao. “But as a whole, on the demand and supply outlook, it is stable.”

“Although we are preparing for any eventual outages, we have tapped the NGCP and distribution utilities to check potential load side particularly in the canvassing centers,” he added.

‘ON THEIR TOES’
Mr. Manansala said unplanned power outages beyond the conservative assumptions could further deplete reserve levels, increasing the risk of grid instability.

This year, the DoE projects peak demand at 14,769 megawatts (MW) for Luzon, 3,111 MW for the Visayas and 2,789 MW for Mindanao. If realized, these will surpass last year’s peak demand of 14,016 MW for Luzon, 2,681 MW for the Visayas and 2,577 MW for Mindanao.

“The DoE, Energy Regulatory Commission and other power authorities need to be on their toes in ensuring that generation companies and service providers deliver stable electricity, considering projections that warn of potential yellow alerts in May,” Mr. Arances said.

Any power player that triggers a power outage should be penalized, he added.

“The reality of perennial power outages, however, goes well beyond May,” he pointed out. “We would be gambling on the integrity of our election every single time unless we address the root cause — grave dependence on coal and gas power plants, which are the main culprit to power unreliability due to their vulnerability to forced shutdowns, especially in the summer.”

The recurring issue of power supply deficiency highlights the vulnerability of the grid system, which is centralized and heavily reliant on baseload plants such as coal and natural gas, ICSC said in a report.

It said the government should focus on energy efficiency and conservation to ensure adequate power supply in the summer.

Consumers also play a critical role in demand-side management by adopting energy efficiency and conservation practices, it said.

Measures such as shifting energy-intensive activities to nonpeak hours, upgrading to efficient technologies and adopting energy-saving habits in homes and workplaces could significantly alleviate grid strain, it added.

Romil Hernandez, director for energy policy at ICSC, said the Luzon power grid might be placed under yellow alert this month, but the likelihood of a red alert is unlikely until June or after the election period.

“In the Visayas, tight supply is also expected in June,” he said in a Viber message. “Mindanao, on the other hand, is expected to have normal reserves and could export power to the Visayas.”

“Like in previous years, no major planned maintenance outages are scheduled in the second quarter, but even if power supply during the elections falls within the normal operating margin, vigilance is necessary to manage unplanned outages,” he added.

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