Senators Criticize Lack of Concrete Plans for Maharlika’s Energy Sector Investments

Senators expressed frustration over the Maharlika Investment Corporation’s (MIC) lack of concrete plans for energy sector investments despite numerous announcements. Senator Sherwin Gatchalian noted that MIC has yet to outline a specific strategy, with most updates appearing to be “all press release” rather than actionable steps.

During Senate discussions on the Department of Energy’s 2025 budget, Senator Imee Marcos suggested the government take a more active role in addressing the country’s grid delays. Marcos proposed that MIC, in coordination with the National Transmission Corporation (TransCo), spearhead the grid’s interconnectivity projects, which are critical for the nation’s energy security. Gatchalian agreed, saying the government should lead the interconnectivity projects if the private sector is unable to due to capital constraints.

While MIC previously announced its intent to invest in the transmission and distribution infrastructure for off-grid islands as part of a proposed P35-billion investment, Senator Marcos criticized the lack of progress. “There [was] a plethora of media releases…but it appears there is no concrete plan as yet,” she said, calling the current status “wishful thinking.”

The delays in National Grid Corporation projects have prompted action from the Energy Regulatory Commission (ERC), which has issued show-cause orders and other measures in response. Gatchalian indicated that the government may look to MIC or alternative solutions to move forward with these critical transmission lines.