I’ve read from an article that the Philippines is the number one country who charges the most expensive electric consumption cost among all other countries in the world. I was shocked by this news, in fact, I actually searched the net regarding this. (To read the whole article, click here)
We topped over Japan. Japan, just by it’s name, all we can think of are electronic gadgets, appliances, TECHNOLOGY–everything that requires electricity. This made me realize that this might be a factor why we’re failing in attracting foreign investors here in the Philippines. Imagine, we’re just a third world country and we even defeated Japan (which is currently a developed country) in terms of power consumption cost! Our country is charging 18 cents/kW-h for residential rates while Japan charges 17 cents, 15 in Singapore, eight in Thailand, seven in Malaysia, five in Indonesia, and three cents in Vietnam.
Meralco has to start reconsidering such issues. How can we persuade global investors here in the Philippines if they are going to spend more relative to their home countries on electric consumption cost? We’ll definitely find it difficult in marketing our country to them. Being the largest power distributor in the country, I think they can afford it if ever a slight decrease in the costs have to come into action. This is not only for re-stabilizing our current economic status but also reviving the hope in the Philippine mass.
(Blog Entry #9)