Ramos` private-power policies pay off
This article reports that political stability, government incentives attract foreign capital for new generating plants and T and D facilities. Teams of multinational lenders, developers, equipment vendors, engineering contractors erect critical plants in record time. As recently as the summer of 1993, the Republic of the Philippines was teetering on the brink of bankruptcy--mainly because of electricity shortages. Brownouts averaging seven hours a day were common nationwide, and Manila`s business districts were frequently blacked out for most of the day. With the nation of 67-million facing economic losses estimated at several billion dollars a year, President Fidel V. Ramos took swift, decisive action. Ramos, elected the previous year, accelerated power-sector reforms initiated by his predecessor, Corazon C. Aquino, that sought to augment the aging, unreliable generating capacity of the state-owned electric utility with private power development.
- OSTI ID:
- 186888
- Journal Information:
- Power (New York), Vol. 139, Issue 11; Other Information: PBD: Nov 1995
- Country of Publication:
- United States
- Language:
- English
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