PASAY CITY, Philippines – Senators are expected to deliberate on the proposed lowering of electricity rates as the Murang Kuryente Bill has now reached the plenary.
The measure, sponsored by Senate Committee on Energy Chairman Sherwin Gatchalian, would allow the use the current and future collections of the Malampaya fund to pay for the stranded contract costs at stranded debt.
It would settle the liabilities and debts of the Power Sector Assets and Liabilities Management Corporation (PSALM).
PSALM collects an amount from consumers to pay the stranded debts through a universal charge that is incorporated in the monthly electricity bill.
Since 2013, consumers have been paying P0.1938 per kilowatt hour. But in 2017, the amount went up to P0.2 per kilowatt hour.
This translates to P44.06 monthly payment for the universal charge for a household consumption of 200-kilowatt hour.
But if the bill passes into law, consumers will be unburdened by the lifting of the universal charge. – UNTV News & Rescue
The post Senate to deliberate on Murang Kuryente Bill appeared first on UNTV News.