The Philippine economy stands at a pivotal moment, with the World Bank projecting a strong growth rate of 6 percent from 2024 to 2026. However, the nation, energy advocates say, faces considerable challenges, particularly in its energy sector, which could undermine economic progress.
As the most coal-dependent country in Southeast Asia, the Philippines struggles with high electricity costs—peaking at P11 per kWh, the second highest in the region. This burden affects both households and businesses, reducing the country’s competitiveness and economic resilience.
The country’s dependency on imported coal (80 percent of its supply) underscores the need for a transformative energy solution. Nuclear energy has emerged as a cost-competitive and reliable alternative. Key advocates, including Pangasinan Rep. Mark Cojuangco and Alpas Pinas convenor Gayle Certeza, argue that nuclear power can provide the country with affordable, clean, and reliable energy, driving long-term economic growth.
Cojuangco highlighted nuclear energy’s advantage over renewables, noting that unlike renewables, which incur rising system costs with increased adoption, nuclear power requires only a one-time investment in infrastructure. This stability could foster a favorable environment for both domestic industries and foreign investments.
Globally, countries like Germany are reconsidering nuclear energy to address energy security challenges, further validating its potential. In the U.S., tech giants like Microsoft are investing in nuclear power to meet the rising energy demands of AI-driven industries, underscoring nuclear’s role in the global shift toward sustainable energy solutions.
Beyond energy security, nuclear energy promises to create jobs across various sectors, from plant operations to service industries. Legislative efforts, such as the proposed Philippine National Nuclear Energy Safety Act, are already underway to establish a regulatory framework for nuclear safety and security.
Advocates argue that now is the time for the Philippines to act decisively and harness nuclear energy’s potential to ensure a sustainable and prosperous future for the nation.
