Electricity supply being wheeled to industrial customers in the Philippines has been the sixth most expensive among member-countries of the Association of Southeast Asian Nations (Asean); making it doubly hard for it to corner fresh investments if the situation would not be remedied soon.

According to data collated by the Jakarta-based Asean Centre for Energy, the industrial electricity rates in the Philippines have been at a range of 3.35 to 10.84 US cents per kilowatt hour (kwh); and is just well within the "high rate" range of more developed economy Singapore; of which industrial power rates is pegged at 4.16 to 6.69 US cents per kwh.

Among the 10 Asean countries, the cheapest electricity rate for industries is offered by Indonesia at a range of 1.71 to 4.38 US cents per kwh; followed by Malaysia at 2.63 to 10.52 per kwh.

Coming in next would be Vietnam with 2.83 to 13.96 US cents per kwh; and trailing closely are Brunei Darussalam with 2.88 to 11.54 US cents per kwh; and Thailand with 2.94 to 7.13 US cents per kwh.

In the sixth spot is Lao People’s Democratic Republic; but it should be noted that its industrial power rate is being offered at a uniform rate of 3.51 US cents per kwh.

The other Asean countries which are relatively having expensive industrial electricity rates are Myanmar with 8.14 US cents/kwh; but also set at fixed rate; and Cambodia with 12.58 to 15.72 US cents per kwh.

It was, however, emphasized that in terms of competition in positioning as an investment site in the region; the country’s most significant rivals are not Myanmar and Cambodia; but its more investment-enticing neighbors, such as Malaysia, Thailand and Vietnam.

In so many instances, prospective industrial locators have complained of expensive power rates in the Philippines as among the primary deterrents to their entry; on top of concerns on political stability and other investment risks.

Because of such raging concern, the Philippine Chamber of Commerce and Industry (PCCI) earlier unveiled plans of undertaking a study that would set benchmarks on power rates for industries and commercial establishments with the end-goal of reflecting the true cost of electricity.