ILOILO City will be losing more than a billion as the power blackout affecting Western Visayas continued for days.
“Based on rough estimates of the Local Economic Development and Investment Promotion Office (Ledipo), the City of Iloilo is losing between P400 million to P500 million a day due to the power interruptions and rotational brownout. In three days, we would have lost P1.5 billion. What a way to start the new year!” Mayor Jerry Treñas said.
The city’s annual Gross Domestic Product was P145 billion in 2022, which represents the total economic production of Iloilo City that year.
“If we divide that by 365 days, estimated production loss is not less than P400 million per day. That’s really a big deal,” he added.
Ledipo head Velma Jane Lao said the service sector is greatly impacted by the power interruptions.
A big chunk or 87 percent of our economy is services, followed by industry at 10 percent, and agriculture, forestry and fishing at almost three percent, she said.
The mayor has already called on congressmen in Western Visayas to initiate a congressional investigation on the massive blackout that hit Panay, Guimaras and Negros Occidental since afternoon of January 2.
The National Grid Corporation of the Philippines (NGCP), in an earlier statement, reported that various power plants in Panay Island suffered multiple trippings, including Panay Energy Development Corporation (PEDC) Unit 1 and 2 (83 MegaWatts each), and Palm Concepcion Power Corporation (135MW), among others.
According to NGCP, load restoration will be done conservatively, by matching loads to restored generation, to prevent repeated voltage failure.
The target synchronization started between 10 p.m. of January 3 and 12 a.m. of January 4.
Rotational load sheddings are being scheduled by distributor MORE Electric and Power Corporation in Iloilo City.
Even business groups like the Philippine Chamber of Commerce and Industry-Iloilo Chapter and Iloilo Economic Development Foundation Inc. have expressed concern over the severe impact of the situation to local businesses, industries, and the overall economic activity.
“Electricity downtime can disrupt daily routines, causing inconvenience and discomfort. This creates a ripple effect, impacting individuals, families, and communities, exacerbating overall economic hardship,” the business groups said in a statement. (PR)