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San Miguel Corp.’s (SMC) president and CEO, Ramon Ang, commended President Ferdinand R. Marcos Jr. for his initiatives aimed at revitalizing the Philippines’ energy sector, highlighting the nation’s historical prowess in energy innovation from the 1960s to the 1980s.
Speaking at the question-and-answer session of the World Economic Forum (WEF) on East Asia at Malacañang Palace, Ang emphasized the Philippines’ role as a pioneer in geothermal power development in the region.
Ang noted that the Philippines constructed its inaugural geothermal power plant in 1977, with current geothermal output reaching 2,000 megawatts. Additionally, the country was among the first in Asia to establish a nuclear power facility in 1976, and early adopters of the Malampaya natural gas field and solar energy in the 1980s.
In his address to forum participants, Ang underscored the Philippines’ early adoption of solar energy, dating back to 1980, positioning the nation as a leader in Asia during the 1960s, 70s, and 80s. However, he lamented the setback caused by a military takeover, leading to a period of catch-up efforts.
Ang also addressed misconceptions regarding the Philippines’ competitiveness, attributing high power and fuel prices to government-imposed taxes rather than inherent inefficiencies. He compared the actual costs of power and fuel in the Philippines favorably to other Asian nations, noting that the country lacks the subsidies enjoyed by its regional counterparts.
Ang highlighted Malaysia as an example, where subsidies amounting to US$20 billion annually are granted, contrasting with the Philippines’ market-driven approach.
In response, President Marcos expressed gratitude to SMC for its contributions to Philippine infrastructure and energy development. He highlighted SMC’s recent involvement in the rehabilitation of Manila International Airport, stressing the significance of enhancing connectivity and bolstering the tourism sector. |
