00:00 It is expected that the Mindanao Visayas Interconnection Project, which will be the first of three power grids in the country, will help strengthen the economy.
00:11 That is the surprise of Kenneth Paciente.
00:13 3, 2, 1.
00:25 President Ferdinand R. Marcos Jr. has put forward the formal opening of the Mindanao Visayas Interconnection Project or MVIP.
00:33 This is a transmission line project that is the first of three power grids in Luzon, Visayas, and Mindanao.
00:40 It has a length of 184 circuit kilometers that runs through the vicinity of Zamboanga del Norte and Santander in Cebu.
00:47 It has a capacity of 450 megawatts.
00:50 According to the President, the project will strengthen the economy and strengthen the power supply in the country.
00:56 This infrastructure allows power generated in Mindanao to supply our homes and establishments in Visayas and now all the way to Luzon and vice versa.
01:06 Indeed, this interconnection will unlock enormous socioeconomic development potential for both Visayas and Mindanao.
01:14 The realization of our one nation, one grid aspiration is definitely a crucial turning point for this country in ensuring reliable power at all times.
01:25 In the launch of the project, the President cannot avoid mentioning the power interruption in Panay Islands, Kamakailan.
01:32 The President ordered the economic losses caused by the incident to reach 3.8 billion pesos.
01:39 That is why he will take care of such interconnection projects so that it will not happen again.
01:44 We cannot afford to have another round of this costly interruption, not only in Panay Island but anywhere in the country.
01:52 So let's move forward with the lessons that we have gained from this blackout.
01:56 Ensure this massive inconvenience and loss for our people should not occur again.
02:05 At the same time, the President instructed the National Grid Corporation of the Philippines or NGCP to continue and finish the other interconnection projects.
02:14 Although the President has accepted the heavy responsibility of the NGCP as the sole operator of the country's power grid,
02:21 the Executive Board also assured the continued cooperation and efforts of the government.
02:27 I assure that similar support and cooperation will always be extended by government to ensure the timely completion of all these significant transmission projects,
02:37 particularly those that will relieve congestion as well as those needed to deliver additional capacities that can be provided by renewable energy.
02:47 Again, President Marcos Jr. gave his directive to the Energy Regulatory Commission or ERC to ease the reset of NGCP rates.
02:57 He also ordered the DOE and ERC to study the third party to build a transmission project to meet the needs of the country's electricity.
03:07 Each of us here has a shared responsibility to ensure the reliability and the adequacy of energy supply at all times.
03:16 I strongly believe that a brighter future awaits us.
03:19 So therefore, I enjoy your cooperation and commitment as we achieve our goal for our country's total electrification in the soonest possible time.
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