Senator Sherwin Gatchalian said any amendment in the Electric Power Industry Reform Act (EPIRA) should result in lower electricity prices to benefit consumers who continue to be burdened with high electricity costs.
“Any amendment in the EPIRA law should be geared towards reducing the price of electricity,” said Gatchalian, who noted that electricity prices in the country remain at high levels.
Gatchalian added that the country needs to be able to provide not just a steady and sufficient supply, but also affordable energy for its consumers.
Senator JV Ejercito, likewise, said it is about time to amend EPIRA.
“Power generation, distribution and high rates should be addressed and prioritized,” Ejercito continued.
Both Gatchalian and Ejercito made the statement following President Marcos’ call for a review of EPIRA in his recent State of the Nation Address (SONA).
Gatchalian said he supports the President’s call to amend EPIRA to address issues hounding the energy sector including high prices.
Ejercito, meanwhile, said the President’s call is a welcome development.
According to the Gatchalian, EPIRA should be amended to give the Energy Regulatory Commission (ERC) more teeth in enforcing accountability among industry players who fail to deliver their mandate.
“ERC plays a critical role in the industry and we want strong provisions in EPIRA that would empower ERC to regulate industry players effectively,” he said.
Gatchalian stressed that the ERC should have enough power to enforce its mandate of protecting the interest of consumers and its charter should foster independence, transparency, and accountability.
Senate President Francis Escudero said the Senate will try to approve amendments to the country’s electric power law and corporate tax law before the President’s fourth State of the Nation Address next year.
Escudero said they want the EPIRA amendments to lead to lower power rates, however, he indicated that the administration is yet to file its version of the proposal.
The Senate chief already asked the Energy Department and Office of the President for input as the Senate drafts its proposals.
Basically, he related that the amendment’s goal is to widen and increase power supply in the country.
Marcos considers amendments to the EPIRA and the Corporate Recovery and Tax Incentives for Enterprises (CREATE) as priorities in his 3rd State of the Nation Address on Monday.
Escudero noted that the President didn’t mention new bills outside of previously mentioned priorities in the Legislative Executive Development Advisory Council or LEDAC.
