The Philippines’ competitiveness as a destination for investments will receive a strong boost if the government adopts nuclear power as an alternative source of energy to meet the growing electricity needs of the country, according to a business lobby group.
In particular, the Chamber of Commerce of the Philippine Islands (CCPI) said activating the mothballed 621-megawatt Bataan Nuclear Power Plant would help lower local electricity costs, which remain the highest in Asia after Japan.
“Studies show that nuclear energy is the cheapest source of electricity: 79 percent cheaper than oil, 78 percent cheaper than gas and 23 percent cheaper than coal,” said the organization. “To improve the quality of life with lower electricity cost, the convenience of modern life will become more affordable for use by the people.”
1970s program
CCPI—which claims to be the Philippines’ oldest chamber of commerce, having been established in 1903 before being eclipsed by more prominent business groups—said that restarting the country’s 1970s-era nuclear program would also help create jobs and alleviate poverty.
“The country has the highest unemployment rate in Asean, and jobs are created by business activities in manufacturing, services and all other sectors of the economy that need to be cost efficient,” it added.
The group also sought to allay worries about the safety of nuclear power plants, pointing out that there are 31 nations—both developed and developing countries—from the Americas, Europe and Asia which operate them.
“France generates 80 percent of its electricity from nuclear energy,” CCPI said, adding that the US also has 99 nuclear power plants, and China has the fastest nuclear power program with 28 new reactors under construction.
Other countries
On top of their existing reactors, nuclear power plants are being constructed in Argentina, Brazil, China, India, Japan, Finland, Russia and South Korea. Egypt has joined the league of countries using nuclear power as a source of energy with two reactors under construction.
Vietnam is presently constructing two plants, while other countries in East and South Asia are looking into nuclear plants as an additional source of energy.
“In Asean, the Philippines, from being number one, is now number five in per capita income. Without nuclear power, Vietnam and other Asian/Asean countries will overtake us,” the group said. “The Bataan Nuclear Power Plant has sister-clone plants operating safely in Korea, Slovenia and Brazil for over 30 years. Therefore, they are actual examples of the safety of the BNPP.”