As the economy improves, energy consumption is expected to rise.
A senior official of Aboitiz Power Corp. stated on Monday, September 20, 2021, that power consumption is improving, indicating the country’s continuing economic recovery despite the coronavirus disease 2019 (Covid-19) pandemic.
During a virtual conference with the Cebu press, firm executive vice president and chief operating officer Jaime Jose Aboitiz remarked, “Power is ramping up this year after a low demand last year owing to the pandemic.”
The relaxation of quarantine rules, according to Aboitiz, is to blame for the rising energy consumption, which he believes will continue as the country’s economy recovers.
He predicted that the forthcoming 2022 elections will have a major impact on the country’s electricity usage.
Election season, as in the past, has always been a “banner year for power consumption,” according to Aboitiz, and this trend should continue this year as the economy recovers.
The Philippines’ economy has traditionally grown in lockstep with its energy consumption, implying a growing need for dependable electricity if the nation is to maintain its economic development post-pandemic.
According to Aboitiz, the power company is continuing to transition to more renewable energy sources in response to climate-related concerns and to assist the government’s efforts to develop the country’s renewable energy market.
Based on installed capacity, AboitizPower is currently the country’s biggest renewable energy owner and operator.
The firm plans to grow its Cleanergy portfolio over the next decade to assist the government’s efforts to encourage renewable energy in the nation and to contribute to the worldwide renewable energy goals.
It aims for a nearly 50:50 combination of clean energy and thermal capacity by 2030.
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