House approves Murang Kuryente Act

THE HOUSE of Representatives ratified on Wednesday the proposed “Murang Kuryente Act.”

House Bill 8869 proposes to lower power rates by, among other measures, the transfer of billions of pesos worth of the Malampaya fund to offset the National Power Corp.’s Stranded Contract Cost and Stranded Debts, which are currently passed on to power consumers through the Universal Charge.

Further, the bill provides further exploration, development, and exploitation of energy resources to lower electricity rates.

The counterpart Senate Bill 1950 was approved by the Senate on Tuesday.

The House also ratified House Bill No. 6276 and Senate Bill No. 2098, or the proposed “Anti-Obstruction of Power Lines Act.” — Vince Angelo C. Ferreras