Blackouts bring P552M economic losses to Capiz

The Province of Capiz suffered an economic loss of P552 million from the January 2-5, 2024 power
blackouts that affected the entire Panay Island.
This was the data submitted by the Capiz Provincial Planning and Development Office (Capiz PPDO) to
the Capiz Sangguniang Panlalawigan.
The Capiz PPDO used the formula by the Philippine Independent Power Producers Association (PIPPA) in
calculating the economic losses.
The P552 million economic loss for Capiz including its capital of Roxas City was generated from the more
than 65 hours of power blackout.
But the Capiz PPDO also factored in the gross domestic product (GDP) for three major sectors: services;
industry, and agriculture, fishery and forestry.
For the year 2022, the GDP for these three major sectors was estimated at P74.38 billion.
“It follows that the daily income of the province is approximately P204 million. That is P8.5 million per
hour,” said Capiz PPDO in its report.
Taking into account the outputs generated by the economy, Capiz PPDO reiterated that no electricity
meant the three biggest sectors of the economy had no income.