QuestionsQuestions (Republic Act No. 11371)
The Act is known as the “Murang Kuryente Act.”
To protect public interest by ensuring reliable, secure, and affordable electricity supply, implementing policies for transparent and reasonable electricity prices by minimizing universal charges for stranded contract costs and stranded debts.
It refers to the existing and future government share from the net production proceeds of the Malampaya Natural Gas Project pursuant to Presidential Decree No. 87 and Service Contract 38.
It is the national government share from the net government share after deducting the local government share under Section 290 of Republic Act No. 7160 (Local Government Code of 1991).
A non-bypassable charge passed on and collected from all end users on a monthly basis by distribution utilities.
Payment of stranded contract costs and stranded debts transferred to and assumed by PSALM under Section 49 of RA 9136, including anticipated shortfalls in the course of payment after applying PSALM’s collections.
Two hundred eight billion pesos (P208,000,000,000.00).
They remain in the Special Account in the general fund to finance energy resource development and exploitation programs pursuant to Presidential Decree No. 910.
Yes. Section 4 states that the universal charges for stranded contract costs and stranded debts currently being collected may be covered by the allocated amount subject to the implementing rules and regulations.
DBM shall ensure the timely release of the amounts allocated and appropriated to PSALM in accordance with its debt and independent power producer payment schedule.
On or before June 30 of the preceding year.
On or before June 30 of the succeeding year.
Department of Energy (DOE), Energy Regulatory Commission (ERC), Department of Finance (DOF), DBM, and the Joint Congressional Energy Commission (JCEC).
Upon effectivity, JCEC shall exercise oversight powers over implementation of the Act.
Within ninety (90) days from effectivity, the DOE and DOF (in consultation with DBM, Bureau of the Treasury, and PSALM) must promulgate the necessary IRR.
Upon effectivity of the IRR, no new universal charges for stranded contract costs and stranded debts shall be collected.
It amends Section 8 of PD No. 910 insofar as the use of the Special Account in the general fund is concerned.
If any provision is declared unconstitutional or invalid, the other unaffected parts remain in full force and effect.
Fifteen (15) days after publication in the Official Gazette or in a newspaper of general circulation.