This city needs more reliable sources of power to meet the increasing power demand that would support the local economic growth, Mayor Jerry Treñas said.
During a recent courtesy visit of Manila-based reporters, Treñas urged power generation companies to look into investing in baseload plants in Panay Island, which he said is essential to meet the city’s fast-growing economy.
“There’s a need for additional baseload power for the city and Panay. Because Iloilo is growing by 9.6 percent for its GDP (gross domestic product), so that will mean economic activities and the need for additional baseload,” he told reporters.
The city power supply demand is around 6 to 7 percent annually.
He said they do not want a repeat of what happened in January when Western Visayas was hit by a region-wide blackout after two major plants on the island tripped.
Iloilo City reported PHP500 million in losses a day during the outages.
However, Treñas noted that despite the current power issues in Panay Island, Iloilo City continues to attract investments, especially in the sectors of business process management, and tourism, as well as meetings, incentives, conferences, and exhibitions.
“While investors are scared, they are still coming in. So, assuming that they will no longer be scared, I think there will be more,” he said.
Treñas said the attraction could also be attributed to the local government’s decision not to increase its property tax.
Iloilo City has not increased its property tax for the past 18 years.
“I think once we get some investments in the baseload power plants, the investments coming into Iloilo will further accelerate,” he added.
The city mayor has assured power investors that the administration of President Ferdinand R. Marcos Jr. is on top of the power situation. (PNA)