SENATE BILL

JUL
21
2016

SBN-924: Cheaper Electricity Bill Act

An Act Reducing Electricity Rates By Allocating The Net National Government Share From The Malampaya Natural Gas Project For The Payment Of The Stranded Contract Costs And Stranded Debts Of The National Power Corporation

  • Instead of using Malampaya Fund to finance non-energy related programs and projects of national government agencies, the said Fund would now directly benefit power consumers by allocating the net national government share from the Malampaya Natural Gas Project for the payment of the Stranded Contract Costs and Stranded Debts of the NPC.
  • Furthermore, to ensure transparency in the Fund’s utilization, the bill also mandates that the allocation of the said Fund to lower power costs should be clearly provided for in the General Appropriations Act.

 

Download PDF

COMMENT : Off