By Butch Fernandez- February 14,
2019
Meralco linemen inspect meters on
Road 10 in Tondo, Manila, in this file photo. On Wednesday, Senate Energy
Committee Chairman Sherwin Gatchalian said the bicameral conference committee
on the “Murang Kuryente” (cheap electricity) bill is convening soon to
fast-track the measure—which seeks to reduce electricity rates by using the
government’s share from Malampaya to pay stranded contract costs, among others,
of theNational Power Corp. and the feed-in-tariff allowance—was approved by the
Senate on third and final reading on February 4.
THE Senate and the House of
Representatives will convene a bicameral conference committee soon to
resolve differences between their respective versions, approved on third and
final reading, of the proposed “Murang Kuryente Act.” The measure is seen to
help the public obtain savings in their power bill by tapping the government’s
share of Malampaya funds to cover the stranded costs of the National Power
Corp.
Sen. Sherwin Gatchalian, who chairs
the Senate Economic Affairs Committee, told the BusinessMirror on
Tuesday the bicameral committee will likely convene after one week, when
the House contingent is back from a short break.
The two chambers went on break on
February 9, and will be on recess until May 19 for the midterm
elections. However, Gatchalian said the committees he heads—economic
affairs and energy—will resume work shortly, “as we could use the time during
the break to thresh out key issues at committee level and conduct hearings” while
Congress is in recess.
He said he got word that his
counterparts in the House for the bicameral panel on the Murang Kuryente bill
will be available “after one week.”
The main difference between the
versions approved by the two chambers on third and final reading, before they
adjourned on February 9, is mainly the percentage at which Malampaya funds will
be used for the purpose of paying for the stranded costs and, thus, shaving off
the bills of energy users, Gatchalian noted.
The House version will use half, or
about P120 billion, of the Malampaya funds for the Murang Kuryente bill’s
intention; the Senate version, however, proposes to use the entire amount of
over P207 billion.
Gatchalian explained they opted for
fully applying the funds to the Murang Kuryente’s purpose in order to make
power customers “feel the difference” from the savings arising from
implementing the law. In total, he estimates the public will get a total
reduction of P1 per kilowatt-hour, which translates to “close to 8 percent of your
total bill.” This, he said, is savings that “can truly be felt.”
The bill, which seeks to reduce
the electricity rates by allocating the government’s share from the Malampaya
natural gas project for the payment of the stranded contract costs and stranded
debts, missionary electrification and environmental charges of the National
Power Corp. and the feed-in-tariff allowance was approved by the Senate on
third and final reading on February 4.
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