House Speaker backs Bongbong's nuclear energy initiative

House Speaker Ferdinand Martin Romualdez supports President Ferdinand "Bongbong" Marcos Jr.'s initiative to pursue nuclear energy as a way to lower electricity costs.

This follows President Marcos Jr.'s meeting with NuScale Power Corporation, an American nuclear energy firm, during his trip to the United States.

NuScale Power Corporation is planning to conduct a study to locate a suitable site for its small modular reactors (SMRs) in the Philippines.

The company is expected to invest USD6.5 billion to USD7.5 billion to provide 430MW to the Philippines by 2031.

Romualdez stated that the country requires the development of cheaper, alternative energy sources to reduce power prices.

He emphasized the importance of adequate and cheaper energy for sustained economic growth.

Romualdez acknowledged that while increasing energy generation capacity takes time, exploring alternatives like nuclear power is a wise approach to achieve this goal.