Nuclear Energy Pushed as Solution to High Costs

Non-profit organization Alpas Pinas has urged the Philippines to consider nuclear energy as a viable alternative to soaring electricity costs and to enhance the country’s energy security.

During a media briefing, Pangasinan 2nd District Representative Mark Cojuangco emphasized the need for a more comprehensive assessment of energy costs.

He pointed out that while levelized cost of electricity (LCOE) is commonly used to evaluate generation expenses, it overlooks key factors such as transmission upgrades and reserve capacity requirements.

“Nuclear energy stands out as a cost-competitive option when both system costs and externalities are considered,” Cojuangco said.

“It’s reliable, low-carbon supply offers a pathway to affordable and sustainable energy solutions, making it an attractive alternative in the Philippines’ energy transition.”

Philippines’ Heavy Coal Dependence Drives High Rates

A recent report by Ember, a global energy think tank, revealed that coal powers 61.9% of the Philippines’ electricity generation.

Of this, 80% is imported, making the country the most coal-reliant nation in Southeast Asia in 2023.

This dependence has led to electricity prices reaching PHP 11 per kilowatt-hour (kWh), the second highest in the region.

Alpas Pinas’ Lead Convenor Gayle Certeza underscored the challenge of maintaining affordable energy as the country transitions to renewables.

She explained that expanding renewable energy sources comes with added costs for backup infrastructure to ensure stable supply.

“At least with nuclear, the system costs will be a one-time investment, and there will be no need to create a backup source because the energy source is infinite, making this energy source cheap, that will fuel economic growth,” Certeza said.

Nuclear Energy as an Economic Catalyst

Beyond reducing electricity costs, nuclear energy is seen as a driver of economic growth.

A shift toward nuclear power would create job opportunities across multiple sectors, including plant operations, fuel processing, healthcare, and support services.

This aligns with global trends where nuclear energy projects have spurred job creation and technological advancements.

Legislative efforts are already underway to develop the country’s nuclear energy sector.

Senator Alan Peter Cayetano has sponsored the Philippine National Nuclear Energy Safety Act, which aims to establish the Philippine Atomic Energy Regulatory Authority (PhilATOM).

This independent body would oversee the safe and secure use of nuclear energy in the Philippines.