The House of Representatives has passed on second reading its version of the “Murang Kuryente” bill which promises to reduce electricity rates in the country.
The House decision guarantees passage of House Bill 8869 on final reading next week. The Senate version was passed the other day, thus, ensuring Congress approval before the Feb. 8 adjournment.
Sponsored by Marinduque Rep. Lord Allan Velasco, HB 8869 consolidates seven different legislative proposals authored by Reps. Winston Castelo (PDP-Laban, Quezon City); Maximo Rodriguez (NP, Cagayan de Oro City); Carlos
Isagani Zarate (Bayan Muna party-list); Gary Alejano (Magdalo party-list), and the late Rodel M. Batocabe (Ako Bicol party-list).
Although a co-author of the measure, Zarate registered his reservations on the provision of the bill that authorizes the use of a portion of the Malampaya funds, at least P123 billion, in partly paying for the stranded cost and stranded debts of the National Power Corp.
Napocor still has an outstanding debt of P449 billion, which stood at R830 billion in 2001 when the government insisted on wiping it out through the passage by Congress of the Electric Power Industry Reform Act.
Zarate called on Congress to use its power of oversight as he pointed out that government has failed to deliver on its promise of lower cost of electricity as a result of the enactment of the EPIRA.
“Pero ngayon ang realidad ay mahal pa rin ang koryente at lubog pa rin sa utang ang Napocor,” he stated during his interpellation of Velasco. (Ben R. Rosario)