30/06/2026
Don't confuse this with cheaper electricity. The World Bank just approved a $1 billion loan and someone still has to pay it back.
In 2001, the government opened up the power industry to private companies with the same promise: more competition, more investment, and eventually, lower prices. 25 years later, we still pay among the highest electricity rates in Southeast Asia.
Every big promise to fix our power sector has been funded by borrowed money, with the savings coming later.
The lower bills (if they ever show up at all) take decades, and usually get swallowed by something else: rising prices, new fees, or the cost of paying back the loan itself.
https://www.worldbank.org/en/news/press-release/2026/06/25/world-bank-group-backs-philippines-push-for-energy-and-water-security
