In a groundbreaking move, the Manila Electric Co. (Meralco) is gearing up to bolster the Philippines’ nuclear energy capabilities by offering scholarships to nurture local talent in this vital field. With an eye on the horizon, Meralco Chairman, Manuel V. Pangilinan, expressed his determination to keep a close watch on the developments in the United States while simultaneously preparing the nation for the potential adoption of nuclear energy.
Pangilinan emphasized the importance of laying the groundwork for a robust regulatory framework, cultivating a pool of skilled engineers, and educating individuals who can champion the development of nuclear energy in the Philippines. Furthermore, he underscored the significance of comprehending the associated risks before diving headfirst into nuclear plant endeavors. He noted, “But we’re about five to 10 years away from making a decision. And is the country ready for it? I don’t think we’re ready for it.”
Meralco’s President and CEO, Ray Espinosa, chimed in, offering insights into the company’s vigilance regarding NuScale Power Corp.’s small modular reactor (SMR) project in the United States. He stressed the difficulties in budgeting and forecasting for nuclear energy, especially in the case of SMRs. “It’s very difficult to budget and forecast nuclear, for instance, because as you know, if you’re talking about SMR, the first of its kind will be delivered only in 2028,” Espinosa noted.
He further added, “And right now based on the news, NuScale is incurring project overruns already. So we don’t know at what price the cost will settle. So in fact, we are keenly looking at how the NuScale pilot project would proceed. So that’s still a long time, still a proof of concept.”
Meralco’s interest in nuclear power, especially SMRs, is in line with its commitment to embracing next-generation clean energy technologies. SMRs, characterized by capacities ranging from 50 to 300 MW, offer advantages such as faster construction compared to larger nuclear plants and the potential to provide electricity to off-grid areas, ensuring a more dependable source of power.
Meralco is convinced that SMRs are better suited for the Philippines compared to conventional nuclear power plant models. The company has already announced its intent to apply for a grant with the U.S. Trade and Development Agency to conduct a feasibility study for SMRs.
Nuclear energy, while a technology of immense potential, is recognized as a long-term option for power generation in the Philippines. In line with this perspective, the Philippines and the United States have commenced negotiations on a civil nuclear cooperation agreement. This agreement will provide the legal framework for the export of U.S. nuclear equipment and materials to the Philippines, following the launch of the “123 agreement” during the visit of U.S. Vice President Kamala Harris to the Philippines in November last year.
Meralco’s visionary approach to nuclear energy development, coupled with their commitment to nurturing local expertise, could pave the way for a greener and more energy-secure future for the Philippines. As they set the stage for this crucial leap, their scholarship initiative underscores their dedication to advancing the nation’s capabilities in nuclear energy, a promising and sustainable power source for years to come.
