MVP cites need for more power plants

Tycoon Manuel V. Pangilinan is seeing the urgent need to accelerate the development of power generation facilities to cater to the country's growing energy demand.

- By BRIX LELIS

"The margin of available and dependable supply in this country over the demand is very thin," said Pangilinan, chairman and CEO of Manila Electric Co. (Meralco), the largest power utility in the Philippines.

He made this point during a recent executive roundtable discussion organized by the European Chamber of Commerce of the Philippines (ECCP) and attended by Meralco officials and European ambassadors.

"We have to build more plants, whether conventional or renewable. We have to gain more capacity," Pangilinan pointed out.