MoNDAY / IvfaY 27, 2019
WV/!V.INQUIRER.NET
rMurangku ryente, bill to benefit big firms'
By M€lvin Gascon
@melvingasconlNQ_
The impending passage of the
so-called "murang kuryente"
bill, which seeks to use the P2o7-
billion Malampaya Fund to pay
off the debts of National Power
Corp (Napocor), will only benefit
big corporations, and will not
ease thesufferings ofconsumers
from the high cost of elecfficity,
party list group Bayan Muna
warned oir Saturday.
Bayan Muna Rep. Carlos Is-
agani Zarate expressed con-
cern that the measur_e, which
passed the bicameral'commit-
tee in March, would only cir-
cumvent the law that governs
the disposition of the Malam-
paya Fund.
' "While we want to lower the
rate of electiicity, bi8 corpora-
tions should not be the ones to
benefit from the taxpayer mon-
ey, including these proceeds
from our finite. natural re-
source," he said.
Sen. Sherwin Gatchalian,
who chairs the Senate enerAy
committee, said the approval
of the "murang/ kuryente
(cheap electricity)"'bill, would
allow ihe use of the P2o7-bil-
lion Malampaya Fund to PaY
off Napocor's debts, which
are being passed on to co4-
sumers through the "universal
charge" in their monthly
elecrric bill.
I
I
Pvo-a-month savings j Corp., the entity created bY the
This would mean savings o
about P17o a month for house
holds consuming 2oo kilowatt
hours monthly, Gatchalian said.l
Under the proposed lawl
^ Fp1qa
around 6o tg 70 percent of the
Malampaya Fund will be used
to iay for th€ stranded contract
cost and debt repaYment of
Napocor, while the rest will be
used to fund. the exploration of
alternative eilergy resources.
The funds will be trans-
ferred to Power Sector Assets
and Liabilities Management
Electric Power Industry Reform
Act to handle the Privatization
and finances of Naiocor.
The Malampaya Fund repre-
sents the government's 60-Per-
-4Q't
Ag
cent share of the royalties from the Malampaya Fund and "use il
the $4.s-billion Malampaya nat- at their own volition."
ural. gas project off Palawan "That is as if we have allowed
' the unscrupulous in governmenl
province since 2oo2
to just squander the MalampaY;
Fund diversion feared . Fund, especially if they inten'
The disposition of the tionalty bloat the stranded costs
Malampaya Fund has been em- . ofNapocor," he said.
broiled in controversies, includ- He said the Makabayar
ing a long-standing disputg be- coalition voted against the "de'
twee.n the provincial govern- ceptive" measure as it fearec
ment of Palawan and the na- this would "wipe out" th(
Malampaya Fund, since the nat
tional government.
Zarate, however, warned ural gas reserve of MalampaYi
that the law would allo$' the ex- is supposedly close to being de
ecutive department to divert pleted in a few years. INQ