Stable power supply vital to economic prosperity

His schedule has been jam-packed with travels to Europe, Asia and the Middle East, with the last stop in Tel Aviv to discuss the ongoing situation in Gaza.

President Marcos Jr. was pleased to meet with Secretary Blinken, hosting a small dinner in Malacañang where I happened to be seated beside the US Secretary of State – giving me the opportunity to emphasize to him that our economic ties are key to our long-term, stable relationship. I told the secretary the President is very keen to see more investments from the United States in the area of energy, food security, semiconductor and digital infrastructure.

There is absolutely no question that economic prosperity and national security are closely connected. Based on many discussions we’ve had in Washington, we can expect more investments coming into the Philippines in many priority areas that have been identified, especially in clean and sustainable energy.

The US really wants to help the Philippines in the clean energy sector, so they are pushing harder for the deployment of small and micro-modular reactors which are perfect for the Philippines because they do not require the construction of big conventional power plants. Worse, many of these electric cooperatives were found to have been systematically overcharging customers in poor communities over the years. These erring ECs have been blatantly disregarding ERC regulations, charging higher electricity rates without basis or standard – creating a huge economic impact on these areas because progress is hampered, with residents and local businesses burdened by high rates compounded by poor service.

I recently had lunch with very busy insurance executives and since the topic was about insurance, I raised the question on how prepared were they for retirement or even semi-retirement. Of course, NO ONE, not a single...

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