"The situation has reached a point where public officials – including candidates in the polls – must tell the people how they intend to prevent the return of 10-12 hour brownouts. What’s the point in having low power rates if you don’t have electricity?" Hombrebueno pointed out.
His statement came close on the heels of what Hombrebueno called "an ill-advised mark" by vice presidential bet Loren Legarda criticizing the Electric Power Industry Reform Act (EPIRA).
"Legarda reveals her lack of depth and knowledge when she traced the low investment inflows in the power industry due to overcharging. Her logic does not make sense," Hombrebueno said.
He finds Legarda’s flawed logic amusing at best and misleading at worst, when she commented that "Power Sector Assets and Liabilities Management Corp. (PSALM) is having great difficulty in finding buyers of PSALM assets because of low prospects of the power industry due to overcharging of the electric customers."
"On the contrary, local and foreign investors hesitate to place money in the Philippines because of confusing regulatory signals perpetrated by irresponsible statements of such officials and election wannabes," he added.
Hombrebueno said the EPIRA was passed by Congress precisely to avoid a repeat of the crippling crisis in the early 1990s. The Philippine economy ground to a halt and millions of jobs and opportunities were lost as a result of brownouts that lasted from eigth to 12 hours a day.
"Our Presidential, Vice-Presidential and senatorial candidates should responsibly address the looming power crisis more urgently and concretely by espousing better policies and more definite plans of action for the effective implementation of the EPIRA," Hombrebueno stressed.
He warned candidates against "sacrificing the well-being of the country for political expediency."
The FND has sounded the alarm that recurring brownouts will return by 2006 or 2007 if we continue to fail to attract new investments in the power sector. Earlier, former Energy Secretary Francisco Viray, now secretary general of the Energy Council of the Philippines, had warned that we will experience brownouts once again if no new power plants are built. Normally, there is a lead time of four to five years to set up a new power plant, but obviously it is now too late to avert the looming crisis.