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Politics

ALLOT FUNDS FOR ‘MURANG KURYENTE’ ACT – GATCHALIAN

Senator Win Gatchalian is urging the Department of Finance (DOF) to provide sufficient budget and spare taxpayers from being choked by new borrowings to fund next year’s implementation of the Murang Kuryente Act. Gatchalian learned that less than 20 percent or only P8 billion of the P46 billion requested by the Power Sector Assets and […]

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Politics

SENATE TO PROBE NGCP IPO DELAY – GATCHALIAN

The Senate Committee on Energy will take another look at the possible reason preventing the National Grid Corporation of the Philippines (NGCP) from going public. Senator Win Gatchalian, chair of the Senate Committee on Energy, stressed that the initial public offering (IPO) of NGCP, which is mandated under the law, is now long overdue as […]

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Politics

HOUSE RATIFIES BICAM REPORT ON MURANG KURYENTE ACT – CASTELO

The House of Representatives has ratified the bicameral conference report reconciling the disagreeing provisions of House Bill 8869 and Senate Bill 1950, which both seek to reduce 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 […]

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Politics

SENATE APPROVES MURANG KURYENTE BILL – GATCHALIAN

The Senate has approved on third and final reading a bill authorizing the use of the P207 billion Malampaya Fund to pay off the stranded contract costs and stranded debt of the National Power Corporation (Napocor). With the approval of Senate Bill No. 1950 (SBN 1950) or the Murang Kuryente Act, Senator Win Gatchalian said […]

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Government

ELECTRIC COOPS URGE PSALM TO FACE CONGRESS, EXPLAIN ASSET DISPOSAL AND FUND USE

“Sa Kongreso kayo magpaliwanag. (Explain to Congress).” This was the message addressed to the Power Sector Assets and Liabilities Management Corp (PSALM) by two of the largest electric cooperative (EC) groups in the country, which criticized PSALM last week for passing the burden of its ballooning debts on interest charges to consumers in the form […]

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Government

ELECTRIC COOPS URGE CONGRESSIONAL PROBE ON POWER DEBTS, FUND MANAGEMENT

Two of the largest electric cooperative (EC) groups in the country said on Wednesday that the Power Sector Assets and Liabilities Management Corp or PSALM “must be made to explain its ballooning debts” that have a direct bearing on renewed proposals to hike electricity prices. In a hearing before the Senate Energy Committee last Tuesday, […]