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Manila Bulletin devider Philippines devider Luzon devider Capiz posts P552-M economic loss from 4-day blackout

Capiz posts P552-M economic loss from 4-day blackout

Published Jan 10, 2024 08:10 am

ILOILO CITY – The province of Capiz suffered P552 million in  economic loss from the January 2 to 5 blackout that affected Panay Island, data submitted by the Capiz Provincial Planning and Development Office (PPDO) to the Capiz Provincial Board said on Wednesday, January 10.

CAPIZ BLACKOUT.jpg

ROXAS City is pitch-dark from the blackout that hit Panay Island last week. (Contributed photo by Rex Cervales)

The Capiz PPDO used the Philippine Independent Power Producers Association (PIPPA) formula in calculating the economic loss similar to what Iloilo province utilized.

The P552-million loss for Capiz, including its capital Roxas City, was a result of the more than 65-hour blackout.

The Capiz PPDO factored in the Gross Domestic Product (GDP) for three major sectors – services, industry and agriculture, and fishery and forestry. The GDP for these three major sectors was estimated at P74.38 billion in 2022.

“It follows that the daily income of the province is approximately P204 million. That is P8.5 million per hour,” said Capiz PPDO.

Taking into account outputs generated by the economy, Capiz PPDO reiterated that no electricity meant the three biggest sectors of the economy had no income for almost a week.

Nearby province Iloilo had a larger loss of P3.72 billion from the blackout. 

READ: https://mb.com.ph/2024/1/10/iloilo-suffers-p3-72-b-loss-from-new-year-blackout

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Blackout Panay Island Capiz
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