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.
Gatchalian noted that electricity prices in the country remain at high levels.
Senator JV Ejercito said it is about time to amend EPIRA. “Power generation, distribution, and high rates should be addressed and prioritized,” he said.
Gatchalian said the government needs to be able to provide not just a steady and sufficient supply but also affordable energy for our consumers.
The senators made the statement following President Ferdinand Marcos Jr.’s’ 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, on the other hand, said the President’s call is a “welcome development.”
According to 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 said the administration has not yet filed its version of the proposal.
The Senate chief he already asked the Department of Energy and the Office of the President for input as the Senate drafts its proposals.
He said that the amendment’s goal is to widen and increase power supply in the country.
Mr. Marcos said amendments to the EPIRA and the Corporate Recovery and Tax Incentives for Enterprises (CREATE) are government priorities.
Escudero noted that the President didn’t mention new bills outside of previously mentioned priorities in the Legislative Executive Development Advisory Council or LEDAC.
