Another good news to all moms whose budgeting the everyday needs of her family. President Duterte signed a law which aims to lower electricity bills.
Republic Act 11371 also known as “Murang Kuryente Act”
The “Murang Kuryente Act” was signed by President Duterte on August 8 and was released to the public on August 13. It was sponsored by Senator Gatchalian in the Senate.
The law aims to reduce electricity rates by allocating government share of Malampaya fund to pay for the debt of National Power Corporation (Napocor).
Initially, it is the consumers who are paying for the stranded contract cost and stranded debts quote as “universal charges”.
“The approval of Murang Kuryente Act in the Senate is a victory for power consumers, who have long been made to share the burden of paying Napocor’s debts through the universal charge for stranded debts and stranded contract costs incorporated in the monthly electricity bill,” Gatchalian, who sponsored the bill, said.
“It is high time for the Filipino people to receive tangible benefits from the Malampaya Fund. With the approval of this measure, the government share realized from the Malampaya Natural Gas Project will end up lowering retail power rates for millions of consumers across the country,” he added.
Indeed this will be of great help to many Filipinos.