• About Us
  • Privacy Policy
  • Terms & Conditions
  • Contact Us
  • Email Whitelisting
Wednesday, June 29, 2022
Invest Daily Pro
  • Top News
  • Economy
  • Forex
  • Investing
  • Stock
  • Politics
  • Editor’s Pick
No Result
View All Result
  • Top News
  • Economy
  • Forex
  • Investing
  • Stock
  • Politics
  • Editor’s Pick
No Result
View All Result
Invest Daily Pro
No Result
View All Result
Home Forex

House bill seeks to allow gov’t to own power plants, halt hydro privatization

by
July 5, 2021
in Forex
0
House bill seeks to allow gov’t to own power plants, halt hydro privatization
0
SHARES
17
VIEWS
Share on FacebookShare on Twitter
PSALM.GOV.PH

A BILL has been filed at the House of Representatives which would allow the government to operate and own power plants in the interest of ensuring sufficient reserves, promising to reverse decades of privatization in the industry.

The bill, “An Act Mandating the Government to Construct, Operate, And Maintain Power Generating Assets to Ensure Grid Stability,” seeks to amend Section 47 of Republic Act 9136 or the Electric Power Industry Reform Act (EPIRA), which governs the privatization of the National Power Corp. (NPC).

The bill would authorize the NPC to generate and sell electricity, and to own and construct power plants in every grid. It will be tasked with ensuring that reserve levels are equivalent to the capacity of the biggest power plant in each grid.

The bill further proposes that the Agus and Pulangui Hydro Electric Plants Complexes be permanently exempt from privatization in order to keep Mindanao power rates low.

In a statement Monday, the Power Bloc Party-list said the bill is its response to the recent hearings in Congress on the surge in the cost of electricity and the shortage of power which triggered rotational brownouts last month.

“As the representatives of 121 electric cooperatives and member-consumer-owners, the Power Bloc firmly believes that if the government will be allowed to intervene through operating and generating its own plants, there will be enough supply to ensure grid stability and power supply reliability, and thereby mitigating electricity price volatility,” it added. — Bianca Angelica D. Anago

ShareTweetPin

Related Posts

GBP, CANVAS partner to promote reading literacy
Forex

GBP, CANVAS partner to promote reading literacy

June 29, 2022
Dozens missing after strike on Ukraine mall; Russia strikes east
Forex

Dozens missing after strike on Ukraine mall; Russia strikes east

June 29, 2022
Abortions can resume in Texas after judge blocks pre-Roe v. Wade ban
Forex

Abortions can resume in Texas after judge blocks pre-Roe v. Wade ban

June 29, 2022
Ghislaine Maxwell sentenced to 20 years for ‘horrific’ sex trafficking
Forex

Ghislaine Maxwell sentenced to 20 years for ‘horrific’ sex trafficking

June 29, 2022
Turkey lifts veto on Finland, Sweden joining NATO, clearing path for expansion
Forex

Turkey lifts veto on Finland, Sweden joining NATO, clearing path for expansion

June 29, 2022
Canva Philippines launches retro templates for Pride month 
Forex

Canva Philippines launches retro templates for Pride month 

June 29, 2022
Next Post
Aboitiz gives equipment to Iligan, Baloi farmers to boost yellow corn business

Aboitiz gives equipment to Iligan, Baloi farmers to boost yellow corn business

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Get the daily email that makes reading the news actually enjoyable. Stay informed and entertained, for free.
Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

Recommended

Philippine banana growers plead for Japanese consumers to bear price hikes

Philippine banana growers plead for Japanese consumers to bear price hikes

June 8, 2022
Policy groups ask Apple to drop plans to inspect iMessages, scan for abuse images

Policy groups ask Apple to drop plans to inspect iMessages, scan for abuse images

August 19, 2021
Peso climbs vs dollar

Peso climbs vs dollar

December 13, 2021

Peso inches lower vs the dollar on PSEi’s drop, central bank meeting

March 21, 2022
World nations try to balance Omicron restrictions while keeping economies open

World nations try to balance Omicron restrictions while keeping economies open

December 30, 2021
Typhoon Rai may make landfall in Palawan

Typhoon Rai may make landfall in Palawan

December 17, 2021
  • About Us
  • Privacy Policy
  • Terms & Conditions
  • Contact Us
  • Email Whitelisting

Copyright © 2021 InvestDailyPro. All Rights Reserved.

Disclaimer: InvestDailyPro.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice.
The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

No Result
View All Result
  • About Us
  • Contact Us
  • Email Whitelisting
  • Home
  • Privacy Policy
  • Suspicious engagement
  • Terms & Conditions
  • Thank You

Copyright © 2022 SmarterNewsNow. All Rights Reserved.