For decades, the Philippines has been crippled by one stubborn and deeply corrosive problem: outrageously expensive and unreliable electricity.

Our power rates, the second highest in Asia next only to Japan, have punished ordinary households, driven away investors, weakened industries, and slowed economic growth that should have surged long ago.

While our Southeast Asian neighbors expanded their economies, the Philippines remained trapped in a cycle of high energy costs, chronic unemployment, underemployment, and missed opportunities.

The consequences have been painful. Because decent and stable jobs remain scarce, millions of Filipinos are forced to leave their families behind in search of better-paying work abroad. Parents miss birthdays. Children grow up separated from parents. Filipinos endure the social costs and dangers of working overseas because the domestic economy has failed to generate enough opportunities at home.

At the heart of these tragic consequences is energy.

The Philippines has become dangerously dependent on imported fuel, leaving the country vulnerable to every geopolitical shock and global oil price surge. The Middle East crisis and the disruption of the Hormuz Strait have exposed how fragile our energy security truly is. It is no longer just an economic issue but also a national survival issue.

This harsh reality dominated discussions at last week’s Kapihan sa Manila Hotel, with guests Rep. Mark O. Cojuangco, chairperson of the House Committee on Nuclear Energy; Dr. Cecilio K. Pedro, former president of the Federation of Filipino Chinese Chambers of Commerce and Industry; and Roberto A. Alvarez, president of the Philippines–Ease of Doing Business Foundation.

“For nineteen years, I have been pushing for lower electricity through the use of nuclear power,” Rep. Cojuangco said. “This is one of the reasons why the Philippines has not kept pace with the economic development of our neighboring countries. Had we acted since 1986, our GDP would have been 40 percent larger by now—that is trillions of pesos and millions of jobs.”

According to Rep. Cojuangco, if the Philippines develops at least 16,000 MW of nuclear capacity across 16 large nuclear plants, household electricity costs could plunge to as low as five to seven pesos per kilowatt-hour—roughly half the current average rate in Metro Manila.

Equally important, nuclear energy can reduce the country’s dependence on imported fuel. Rep. Cojuangco noted that the Philippines currently spends hundreds of millions of dollars importing coal annually, while nuclear fuel costs would be around 20 times lower.

Rep. Cojuangco revealed that the 180-day deadline under RA 12305—the Philippine National Nuclear Energy Safety Act—has already lapsed without the Philippine Atomic Energy Regulatory Authority (PhilATOM) issuing its implementing rules and regulations. Worse, crucial leadership positions in the agency remain vacant.

Dr. Pedro spoke with urgency from the business community’s perspective, warning that the ongoing conflict in Iran has already driven energy prices upward, with no prospect of returning to pre-war levels. He stressed that reliable and affordable power is the single most important precondition for attracting investment and generating employment—and that the Philippines cannot afford to wait.

“The most expensive electricity is no electricity. We need this yesterday, not only today,” he said as he expressed the urgent need for nuclear energy. “Every day we delay is another day Filipino workers are denied the jobs they deserve.”

Mr. Alvarez affirmed that power cost is one of the most crucial factors businesses consider in choosing to invest in the Philippines. With nuclear energy as the most credible long-term solution for sustained economic competitiveness, he called on both government and the private sector to align behind the nuclear agenda in support of ease of doing business in the country.

On the question of nuclear plant safety, Rep. Cojuangco stressed that the Philippines can adopt the tried-and-tested regulations of the vendor country, which are already being used in that country to ensure safety.

On nuclear waste, he said public concern is understandable but largely rooted in misconception. RA 12305 already provides a dedicated fund for waste management, and should deep geological disposal become necessary, the law already accounts for it.

Ideally, however, spent fuel should be recycled rather than buried. He pointed to dry cask storage as a proven and compact solution already in use internationally. In Switzerland, the total spent fuel from seven reactors occupies less than a quarter of a basketball court, while in Arizona, home to the largest nuclear plant in the United States, residents live comfortably alongside the facility.

He also noted that naturally occurring radioactive materials (NORM) are already present throughout the environment. He called for a sustained public education effort grounded in science to allay public safety fears.

In pitching for the opening of the Bataan Nuclear Power Plant, Rep. Cojuangco said around $2 billion would be saved, the estimated amount needed to build new nuclear sites. He said that the Bataan plant is among several nuclear plants built at around the same time—in South Korea, Brazil, and Slovenia—that are award winners for uptime and reliability.

“It’s only ours that is not operating up to now,” he lamented.

It is lamentable indeed that the Bataan Nuclear Power Plant has stood as a monument to lost opportunity. The country already paid billions for a facility that never produced electricity.

The time has come for nuclear energy to help secure our future—a future with lower electricity costs, greater energy independence, cleaner power, stronger industries, more jobs, and fewer Filipino families forced apart by economic necessity. ([email protected])