{"id":646396,"date":"2014-10-23T06:05:00","date_gmt":"2014-10-22T22:05:00","guid":{"rendered":"https:\/\/newsinfo.inquirer.net\/?p=646396"},"modified":"2014-10-23T06:05:00","modified_gmt":"2014-10-22T22:05:00","slug":"aquino-economy-to-lose-p23-3b-due-to-brownouts","status":"publish","type":"post","link":"https:\/\/newsinfo.inquirer.net\/646396\/aquino-economy-to-lose-p23-3b-due-to-brownouts","title":{"rendered":"Aquino: Economy to lose P23.3B due to brownouts"},"content":{"rendered":"
\"Benigno<\/a>

President Benigno Aquino III. AP FILE PHOTO<\/p><\/div>\n

MANILA, Philippines–President Aquino on Wednesday warned that the economy could lose up to P23.3 billion in the event of daily five-hour brownouts for three months next summer.<\/p>\n\n

\u201cThe most expensive power is no power,\u201d he told a forum of the Foreign Correspondents Association of the Philippines (Focap), citing concerns expressed by private companies wary of the government\u2019s projected power shortage early next year.<\/p>\n\n

Aquino said the estimated loss \u201cdoes not include foregone investment and tourist arrivals arising from the negative impact of the power outage on the country\u2019s image as an investment and tourist destination.\u201d<\/p>\n\n

The President said a lower estimate of P9.3 billion in losses was based on daily two-hour brownouts.<\/p>\n

\u2018Various powers\u2019 sought<\/strong><\/p>\n\n

\u201cI\u2019m the guy who says \u2018plan for the worst and hope for the best,\u2019 or you can take the opposite view of \u2018hope for the best and plan for the best,\u2019\u201d he said, reiterating his request for Congress to grant him \u201cvarious powers\u201d to address the supposed power shortage.<\/p>\n\n

Aquino said that the measures the government was now trying to put in place would not lead to \u201cthat big an increase\u201d in the cost of electricity.<\/p>\n\n

He ruled out renting generators because they required about six months to be set up. He said the Interruptible Load Program was a \u201cplausible substitute but these standby generators for the most part have never been considered as baseload plants.\u201d<\/p>\n\n

\u201cThere is a modicum of reserve. Our issue is the idea of forced outages [which] you cannot plan for,\u201d he said.<\/p>\n

Not exaggerating<\/strong><\/p>\n

\u00a0<\/strong><\/p>\n

Malaca\u00f1ang on Tuesday said the President and his Cabinet had been \u201ctruthful\u201d about the projected power shortage, amid accusations that the government was exaggerating the power situation so he could be granted emergency powers.<\/p>\n\n

Aquino said the government was preparing for such a shortage because it would be ultimately be blamed.<\/p>\n\n

\u201cIf there is no power come our summer months, there will only be one party that will be blamed, and that will be the executive [branch],\u201d he said.<\/p>\n\n

\u201cSo we were asking from [Congress] various powers\u2014and not emergency but these are really embodied already in Epira [Electric Power Industry Reform Act]\u2014to address the situation if and when El Ni\u00f1o is really severe, the forced outages in the trend that they have shown in the past two years also continue, to address also the cannot-be-postponed Malampaya shutdown, amongst other things.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

President Aquino on Wednesday warned that the economy could lose up to P23.3 billion in the event of daily five-hour brownouts for three months next summer.<\/p>\n","protected":false},"author":37,"featured_media":634695,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[34,45],"tags":[44601,245,284,1044,48733],"byline":[185],"source":[206078],"column":[],"editor":[],"videographer":[],"position":[],"acf":[],"yoast_head":"\nAquino: Economy to lose P23.3B due to brownouts | Inquirer 黑料社<\/title>\n<meta name=\"description\" content=\"President Aquino on Wednesday warned that the economy could lose up to P23.3 billion in the event of daily five-hour brownouts for three months next summer.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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