The Pinoy Business Chronicle

Business news and analysis. Covering financial news, economic issues, stock market data, local business, business policy and more.

National Business News

House approves Murang Kuryente Act

house approves murang kuryente act 816x445 - House approves Murang Kuryente Act
Congress plenary hall 091818 - 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

Leave a Reply

Theme by Anders Norén