Stable Power Supply, Good Business Environment Key to Keep Phl Economy Alfoat

Energy Undersecretary Zenaida Monsada said stable power supply and a good business environment is vital for the Philippine economy's gains.

"There are only two things that keep this nation afloat and that is a stable power supply and a good business environment," Monsada said in a speech Wednesday during the Norwegian Embassy's Energy Regulation Forum Wednesday.

The speech was supposed to be delivered by Energy Secretary Carlos Jericho Petilla.

Monsada noted the two objectives could be achieved through existing laws and through allowing the entrance of new ideas.

Amidst the passage of the Electric Power Industry Reform Act (EPIRA) in 2001, which limited the Department of Energy's power, Monsada stressed the need for capitalizing the dynamism of the economy and the entry of foreign and local investors.

She added the winwin scenario for both the consumers and the developers, is possible for the energy sector and may likely happen in the future.

"We must sustain this kind of behavior since as a growing country, our industries are swiftly maturing and slowing down at this point would hurt the momentum we are now enjoying," the Department of...