BY JEN BAYLON
CAPIZ – A 65-hour power outage in this province from Jan. 2 to 5 resulted in economic losses totaling P552 million.
The Provincial Planning and Development Office (PPDO) reported to the Sangguniang Panlalawigan on Jan. 9 that businesses and industries incurred losses amounting to P204 million daily, or about P8.5 million per hour.
These figures were calculated based on the province’s gross domestic product (GDP), which was P74.38 billion in 2022.
“(GDP) takes into account all the outputs being generated. It is directly affected by the energy consumption. Hence, no electricity could also mean no income for the economy,” read part of the PPDO report./PN