FDC: Cebu solons stop support for nuke plant

CEBU, Philippines - Debt watchdog Freedom from Debt Coalition is appealing to Cebuano legislators to withdraw support from House Bill 4631 that seeks to activate the Bataan Nuclear Power Plant.

"The BNPP is a glaring representation of the country’s fraudulent, wasteful, and useless debts and to make it operational would be to gamble away the people’s lives on a lost deal. We urge our Cebuano legislators who signed the bill to a public dialogue," said Lito Vasquez, secretary general of FDC Cebu.

In a press statement sent to The Freeman, Vasquez made the appeal in time for the launching of a national campaign by FDC and the Network Opposed to Bataan Nuclear Power Plant (NOtoBNPP) called "People are Watching You" to signal the start of the people’s vigilant watch over their respective legislators, urging them to withdraw their signatures and support for House Bill 4631 or the Bataan Nuclear Power Plant Re-commissioning Act of 2008.

Cebuano legislators who signed HB 4631 were Raul Del Mar (North District, Cebu City), Eduardo Gullas (1st District, Cebu), Pablo Garcia (2nd District, Cebu), Benhur Salimbangon (4th District, Cebu), Ramon Durano VI (5th District, Cebu), and Nerissa Soon-Ruiz (6th District, Cebu).

The controversial BNPP bill, authored by Rep. Mark Cojuangco (5th District, Pangasinan), is set to be deliberated for Congressional approval.

According to FDC, as of 2007 the Philippine government already paid a total amount of P70 billion in debt payments for the construction of the BNPP which was started in 1976.

FDC added that while the government’s accounting books have already cleared the original BNPP debt, the methods of repayment have yet to be examined. The refinancing schemes resorted to by government for the payment of this debt have also yet to be identified. 

FDC further said that the original loan undertaken was $2.3 billion together with some $640 million worth of interest payments, totaling to almost five times the initial estimated cost of the project, which was projected to be only US$600 million in 1975.

The group further warned that the BNPP re-commissioning and commercial operation will increase power rates in the country, already the second highest in Asia.

Proposals in raising government equity include a surcharge of P0.10/kWh of the total electric power generated or through international or domestic loan agreements. 

FDC further said the proposed rehabilitation of the nuclear power plant in Bataan is a national concern meriting nationwide vigilance. – Mitchelle L. Palaubsanon/BRP   (THE FREEMAN)