IBON Facts & Figures: “Alternative to Power Privatization” [Excerpt]

April 18, 2019

by IBON Foundation

Amid power interruptions because of combined forced power outages due to maintainance and various power plants’ system problems, we share the introduction of the December 2014 IBON Facts & Figures issue titled “Alternative to Power Privatization”:

“When the Philippine government privatized the electric power sector in 2001, it promised cheaper and sustainable supply of energy due to the competition induced by the entry of other players. Years upon years after the Electric Power Industry Reform Act (EPIRA) was passed, the country is still burdened by the most expensive and still unstable electricity in Asia. Despite this, the government maintains that privatization is working.

“In many countries in Europe and Latin America, there is a growing trend of bringing back public ownership and management of power and other energy utilities because of the failure of privatization and globalization policies. Other countries have taken steps away from privatization despite the continued push of neoliberal institutions for more privatization projects.”