The term “energy” has become critical amid the Visayas’ rapid economic growth and surging energy demand. According to the United Nations Development Programme (UNDP), energy security is “the continuous availability of energy in varied forms, in sufficient quantities, and at reasonable prices.” It involves reducing dependence on unstable energy imports and ensuring sufficient resources to […]
The Philippines is projected to be Southeast Asia’s fastest-growing economy and the second fastest in Asia over the next two years, according to the latest World Economic Outlook from the International Monetary Fund (IMF). The organization has kept its 6% GDP growth forecast for the country in 2024, which, if achieved, would make the Philippines […]
At the Freeman Business Forum’s “Powering Cebu,” Cebu Governor Gwen Garcia highlighted the importance of reliable energy for the province’s economic growth. Public and private sectors agreed on the need for increased power capacity, with Garcia emphasizing embedded power plants as vital for preventing outages. “The power demand of Cebu year-on-year is exceeding the national […]
According to the Department of Energy (DoE), Cebu’s energy demand is projected to reach 1,400 MW within two years, with supply expected to fall short by 2027 unless new baseload power plants are built. This growing demand is driven by the region’s rapid economic expansion. Central Visayas, the Philippines’ fastest-growing regional economy, recorded a 7.3% […]
Cebu’s surging energy demand, fueled by its robust economic growth, underscores the urgent need for additional power plants—a necessity acknowledged by the Department of Energy (DoE). Speaking at The Freeman Business Forum’s “Powering Cebu,” which brought together business leaders, government agencies, and stakeholders, DoE Assistant Secretary emphasized, “Sa ngayon… there is no problem with transmission […]
Stable energy systems are essential for modern living, ensuring seamless access to electricity for homes, businesses, and industries. By maintaining consistent power, they reduce disruptions, safeguard critical infrastructure, and support economic growth. Reliable energy sources also foster innovation and development while enhancing the quality of life for communities worldwide. In Cebu, power stability is essential […]
Cebu’s economy surged with a growth rate of 7.3% in 2023, marking it as one of the fastest-growing regions in the Philippines. However, this growth, particularly in energy-intensive sectors, is at risk if power generation cannot meet increasing demands. The business sector is especially concerned about the threat of power shortages, as Cebu relies heavily […]
At the recent “Powering Cebu” The Freeman Business Forum held in Bai Hotel in Mandaue City, Governor Gwen Garcia addressed over a hundred stakeholders from local government and industry. “Power is a crucial and non-negotiable ingredient to progress,” she said. ““If water is life, as we often heard, or kilay is life…power gives life to […]
The Philippines is setting an ambitious course towards energy diversification, aiming to reduce its dependency on imported fossil fuels and enhance its renewable energy capacity for sustained economic growth. The Department of Energy (DOE) has laid out an expansive framework to increase renewable energy’s share in the power mix to over 50% by 2050. This […]
Cebu province is experiencing incredible economic growth. Its Information Technology-Business Process Management (IT-BPM) industry made $32.5 Billion in 2022, and is set to expand with two IT plants in Cebu City. The real estate sector is flourishing right along as tech employees buy up condominium units. The tourism sector is another growth area, with 2 […]
