The Mindanao Business Council (MinBC) and the Cagayan de Oro Chamer of Commerce and Industry (CDOCCI) are organizing a two-day power summit aimed to address the shrinking reserve capacity of the Mindanao Grid.
Dubbed as the Mindanao Power Summit, it will be held on December 2-3 at the Xavier Estates Sports and Country Club in Cagayan de Oro City.
The summit will be focusing on three major themes, namely: Creating an Enabling Environment for Investors in Power Generation; Addressing Governance Issues for Sufficient and Reliable Power; and, Mainstreaming Sustainable Responsible Investments in the Power Industry.
MinBC chairman Vicente Lao said that a Mindanao Power Action Agenda will also be presented during the summit to Energy Regulatory Commission (ERC) chairperson Zenaida Ducut.
Ducut is expected to respond to the agenda which is a consolidation of all the inputs gathered during the Mindanao-wide consultations which took place sometime in August.
“The situation will reach a critical state if we do not act fast and act now. We do not want to have a repetition of the power crisis in the early ’90s where we acted too late and we did not have much choice of the available solutions but to avail of whatever was available at that time, regardless of the cost,” Lao said.
“Business (stakeholders) must take the lead in this campaign as the impact is expected to be heaviest on them,” he added.
Over the next five years, Mindanao’s annual power requirement is expected to grow by an average of six percent while the island’s dependable capacity has been on a stand still at 1,510 megawatts, Lao said.
If left unchecked, he said the entire Mindanao grid will be experiencing regular rotating brownouts as early as next year, especially with the coming in of additional new investments that are anticipated to further deplete the grid’s reserve capacity.
By 2014, Lao said projections have it that Mindanao will have a deficit capacity of 484 megawatts, which is equivalent to putting out power in the five major cities of Mindanao, namely Zamboanga, Cagayan de Oro, Davao, Butuan, and Cotabato. (PNA)