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Workers inspect an electric meter installed above ground in Manila on January 11, 2024. Mark Demayo, ABS-CBN News

Article (news)

Electric Meter Reading

Arthur Fuentes

ABS-CBN News

MANILA (UPDATED) — President Ferdinand Marcos Jr. called on Congress to review the country&#x27;s key law on electricity in a bid to bring down power costs.During his third State of the Nation Address, Marcos said the government needs to review the Electric Power Industry Reform Act.&quot;Binabalikan at binubusisi ulit natin ang EPIRA upang malaman kung angkop pa rin ba ito sa ating sitwasyon o napapanahon na para ito ay amyendahan. Hinihiling ko sa Kongreso na pagtulungan na natin ito alang alang sa kapakanan ng mga Pilipino.(We are revisiting and thoroughly examining the EPIRA to determine if it is still suitable for our current situation or if it is time to amend it. I am asking Congress to work together on this for the sake of the Filipino people)<div><a href="https://news.abs-cbn.com/business/2024/7/15/power-rates-rising-in-july-meralco-1138">READ: Power rates rising in July — Meralco</a></div>EPIRA was enacted in 2001 and was supposed to lower power costs through competition and power sector reforms but government think tank Philippine Institute for Development Studies said in 2018 that &quot;[d]ue to its perceived ineffectiveness, however, the law has been subjected to a number of criticisms with some calling for its review, if not an outright repeal.&quot;High power costs have been cited by analysts as among the factors that discourage foreign investors from setting up operations in the Philippines.Earlier this year, the country also experienced a power crisis, with rotating brownouts experienced in Luzon and Visayas, as several power plants bogged down.Marcos meanwhile touted recent interconnection projects between the power grids of the different island groups meant to stabilize the power supply between Luzon, Visayas and Mindanao.<div><a href="https://news.abs-cbn.com/business/2024/4/25/power-situation-now-a-calamity-says-doe-1554">READ: Power situation now a &#x27;calamity&#x27; says DOE</a></div>

During his third State of the Nation Address, Marcos said the government needs to review the Electric Power Industry Reform Act.

During his third State of the Nation Address, Marcos said the government needs to review the Electric Power Industry Reform Act.

Marcos eyes review of EPIRA to bring down power costs

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Marcos eyes review of EPIRA to bring down power costs

Arthur Fuentes,

ABS-CBN News

Published July 22, 2024 05:26 PM PHT

|

Updated July 22, 2024 05:48 PM PHT

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EPIRA

power

energy

Ferdinand Marcos Jr

power grid

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