Revise National Power Corp Charter

NPC exists for fifty years following the expiration of its current corporate life.
Mandated to develop hydroelectric, nuclear, geothermal, and other power sources nationwide.
Obligation to extend benefits of projects to the greatest possible population.
"Corporation" and "Board" refer to NPC and the National Power Board, respectively.

Perpetual succession and operation under corporate name.
Authority to create by-laws, adopt a seal, sue and be sued.
Conduct investigations for water-power development.
Appropriation and diversion of public waters with just compensation.
Construction, operation, and maintenance of power plants, transmission systems, and auxiliary facilities.
Sale of electric power in bulk to industrial, governmental, cooperative, franchise holders, and real estate subdivisions under set conditions.
Property acquisition, leasing, mortgaging, and easements for projects with payment of fair market value and compensation.
Right to cross public and private lands for construction and maintenance, with indemnification for damages.
Eminent domain powers for project implementation.
Authority to incur indebtedness and issue bonds with Presidential and Secretary of Finance approval.
Cooperation with other public electric service entities including National Electrification Administration.
Jurisdiction over watersheds of reservoirs, upon receipt of jurisdiction from other government bodies.
Commitment to environmental protection and natural resource conservation in project execution.
Exercise of all corporate powers consistent with the Act.

NPC Board fixes rates ensuring a maximum 10% rate of return on a rate base.
Interest on debts excluded from expense calculations.
Rates effective 15 days post-publication; subject to Public Service Commission (PSC) review.
PSC has exclusive jurisdiction on rate disputes with specified periods for complaints and resolution.
Refund or credit mandatory if PSC finds rates excessive.
Uniform rate schedules within interconnected systems; regional independence for rate determination.
PSC decisions appealable to the Supreme Court.

Authorized capital stock of three hundred million pesos divided into three million shares.
Shares are non-transferable and wholly government-owned under prior laws.

Seven members: Chairman, Vice-Chairman (General Manager), and five directors appointed by the President.
Directors represent Luzon, Visayas, Mindanao, labor, and business sectors.
Labors representative selected from bargaining units within NPC.
Board members serve three-year terms; qualifications include professional competence or labor leadership.
Compensation by per diem with limits; actual travel expenses reimbursed.
Board constitutes quorum with majority.
Board powers include policy formulation, budget approval, personnel management, hiring and removal of key officials, and setting employment guidelines.

Management vesting in General Manager with assistance from Assistant Manager and Regional Managers.
Execution of Board policies and management duties.
Submission of policy proposals and supervision of internal operations.
Appointment and discipline of personnel within Board guidelines.
Preparation and submission of regular operational and financial reports to the President and Congress.
Regional managers oversee regional operations with operational autonomy subject to Board policies.
Auditor General serves as Corporation Auditor.

Board may incur debts and issue bonds with conditions approved by the President and Secretary of Finance.
Domestic bonds must be registered, sold at par, have set maturity and redemption features, and tax-exempted.
Establishment of sinking fund managed by the Treasurer of the Philippines.
Republic of the Philippines guarantees bond payments with appropriations for defaults; Corporation to reimburse government payments.
Annual reserve setting for national government advances capped by sinking fund status; partial repayments allowed.
Maximum principal indebtedness capped at five hundred million pesos.
Foreign loans authorized for up to two hundred million U.S. dollars equivalent with President authorized to negotiate and guarantee.
Foreign-financed operations enjoy exemption from all taxes, fees, import restrictions.

General Manager may initiate project proposals based on feasibility studies.
Board may convene consulting board of engineers and economist for project review.
Final approval and any modifications to project plans rest with the Board.

Contracts above 75,000 pesos awarded to lowest or most advantageous bidder with published notices.
In absence of satisfactory bids, new advertisements or direct administration allowed.
Adequate bonding by contractors required.
Emergency works may be undertaken without bidding.
Tasks under 75,000 pesos may be performed by administration or contract after price canvass.

Malicious damage or interference with NPC property or personnel is a felony.
Punishment includes fines of 1,000 to 5,000 pesos or imprisonment of 1 to 5 years or both.
Injured parties may seek damages and court costs in separate civil actions.

Unappropriated public waters for hydraulic power allocated to NPC by Secretary of Public Works and Communications.
Domestic water supply needs take precedence over power development.

NPC is non-profit; all returns devote to expansion.
Exemptions from all taxes, duties, fees, imposts, and government charges including income, franchise, realty, import duties, and taxes on petroleum products used in operations.

Franchise holders receiving 60% or more electricity from NPC limited to a 12% rate of return.
Contracts revocable upon PSC judgment if customers prove appliance damage due to deliberate overloading or power deficiency.
Existing contracts subject to renewal to comply with these provisions.

Existing laws governing electric cooperatives remain effective.
NPC relations with cooperatives governed by specific cooperative laws and franchises.

Act does not impair existing collective bargaining agreements or labor rights under applicable laws.