Global Economic Experts ascertain that economic growth and power generation are interlinked. As time progresses, the demand for electrical power usage increases due to a population hike and the needs of the industrial sector. The Philippines, popularly known as the Pearl of the Orient Seas, is focused on bringing a revolution in the power generation sector to meet the rising needs of its growing population.
The Philippines Government is well aware of the fact that a major share of power generation comes from natural resources, notably coal. Along with natural gas, natural fuels contribute to more than two-thirds of the power supply. Yes, renewable energy sources such as hydrothermal power and geothermal power plants contributed to less than 20 percent of the power demand. The Philippines has invested in wind power and solar panels, but since they are in the initial stages, they contribute less than 5 percent of the demand.
Considering the high power demands, the Government of the Philippines has designed the Philippine Energy Plan 2016 to 2030, having included important points from the 8-point Energy Sector Agenda (Philippine Development Plan 2023 to 2028) and President Rodrigo Roa Duterte’s 10-point Socioeconomic Agenda.
The Department of Energy in the Philippines has also designed the Philippine Energy Plan (PEP – 2023 to 2050), (Mindanao Energy Plan – 2018 to 2040), Marinduque Energy Plan and Romblon Energy Plan to gain energy independence.
Companies Supporting the Philippines Government in its Quest for Energy Fulfillment
As per the Department of Energy Philippines, the demand for electrical energy is slated to grow every year by more than 4 percent. As per a statistical survey, the country needs to generate more than 49,000 MW in 2040. To ensure that the demand is met, the Government has given permission to make use of competitive, efficient, sustainable and clean programs.
The private corporations have understood the environmental policy of the Government and are making every effort to generate the rising power demand. A popular company, in this regard, is San Miguel Global Power, known as one of the biggest power generation providers in the Philippines. The parent company of San Miguel Global Power is San Miguel Corporation, one of the most reputed global business conglomerates.
The Management at San Miguel Global Power has integrated strict sustainability quality checks in tandem with the Philippines Governmental program and as per the United Nations Sustainability Development Goals. In the same tune, the company makes use of perfect energy management systems that reduce energy consumption while producing electricity.
The company’s main aim is to distribute consistent and reliable electrical energy to boost the economy of the Philippines. The company has six power plants working at full steam to contribute to the entire country’s demand. A look at the diverse power portfolio generated by all the mentioned industries, and it is easy to guess the contribution made by San Miguel Global Power to the Filipino economy. The company specialises not only in power generation but also in efficiently managing the demand of the customers via various methods.
With 46 Distribution Utility Customers, which are in fact, electric cooperatives, they distribute the energy to meet their area needs. There are also the Retail Electricity Supply Customers, comprising of industrial and business owners who need consistent power to run their business operations. The third type are the Directly Connected Customers who are, in fact, large industrial owners who need large amounts of electricity and are connected to the power plants.
Recognition
There is no doubt, that the San Miguel Global Power is generating a large amount of power to meet the demands of the Filipinos. Their contribution and their unwavering commitment to generating power by minimum use of natural resources have garnered global attention. World Business Outlook Magazine has given them the Coveted Title of ‘Leading Power Generation Company in the Philippines 2024.’
Conclusion
It is not only the Philippines, but every country in the globe has taken a keen interest in environmental protection. By encouraging business conglomerates such as San Miguel Global Power, the Government’s efforts to provide reliable and sustainable energy will materialise. Also, when the generation meets the demand, it will become easy for the Government to allot fair prices for electricity consumption, which will boost industrial growth and generate multidimensional revenue for the country.
Article by Bhaagya Raj Sathya Narayan
