100% electrification to inject P315b to economy

By Alena Mae S. Flores – August 29, 2024, 7:45 pm
from manilastandard.net

Energy Secretary Raphael Lotilla said Thursday electric cooperatives (ECs) are crucial to meeting the government’s 100-percent electrification goal by 2028.

“You are the driving force behind bringing light to the farthest corners of our nation, ensuring that no Filipino is left in the dark. Our shared goal is ambitious, but necessary,” Lotilla said during the 55th founding anniversary of the National Electrification Administration (NEA).

Lotilla said over two million households still lack access to electricity, and ECs have a critical role to play in expanding electrification reach, supporting member-consumers and assisting non-performing cooperatives.

“Your unwavering commitment is the backbone of our mission to connect every Filipino home to reliable electricity, making a tangible difference wherever it is needed most,” he said.

Lotilla said the Department of Energy met with the Department of Finance (DOF) and the National Economic Development Authority (NEDA) recently to discuss total electrification program and its economic benefits.

“Our estimates show that achieving full electrification can inject approximately P315 billion into our economy, representing about 1.8 percent of the country’s gross domestic product,” he said.

“By extending access to electricity for up to 16 to 24 hours a day, household income could rise by 49.9 percent, while expenditure could increase by 52.2 percent,” Lotilla said.

He said providing low-income families with at least eight hours of electricity per day could boost their income by 17.9 percent and their expenditures by 17 percent.

Lotilla said expanding access to 16 hours a day could lead to a 33.3-percent increase in income and a 33-percent rise in expenditures.

“With these compelling figures in mind, I challenge all our electric cooperatives to extend your reach into the unserved and underserved areas, pursue projects to improve electricity access, and commit to delivering a more efficient, reliable, and sustainable service to our people,” Lotilla said.