EPIRAElectric Power Industry Reform Act (Philippines)
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What takes the cake is that this EPIRA also required us electric consumers to pay the 12 percent value added tax (VAT) on those systems losses.
PEMC was incorporated in 2003 and was constituted as the autonomous group market operator to oversee market governance and perform the functions of the market operator in the WESM, which was created under EPIRA.
EPIRA mandates the DOE to encourage private sector investments in the electricity sector to promote the development of indigenous and RE resources.
The House leader further explained that under Section 5 of the IRR of the EPIRA, the DOE shall establish trust accounts specific for EF, DLF and RWMHEEF in the name of the DOE and the Energy Generation Facility/Company and energy resource developer.
enthused that "since President Aquino asked Congress for the authority to establish additional generation capacity under the EPIRA, PSALM has been receiving several letters of intent and accommodating requests for meetings from these potential contractors.
Legislators from Mindanao, however, asked for a ten-year exemption from EPIRA.
7, 2015, but the ERC moved the policy's implementation to April 30, 2016, negating the policies contained under EPIRA and CSP resolutions to protect the interests of consumers.
EPIRA was intended to free the government from subsidizing capital-intensive power projects, and allow instead the private sector to put up these crucial projects.
If they amend the EPIRA, then we are open to discussions," the PSALM chief executive stressed.
In 2001, the Arroyo administration rushed Congress to pass the Electric Power Industry Reform Act or EPIRA.
Last October, the Office of the President fired Energy Regulatory Commission (ERC) chief Jose Vicente Salazar after finding him guilty of the charges of serious dishonesty, gross neglect of duty and violations of Anti-Graft and Corrupt Practices Act, Government Procurement Reform Act, and Electric Power Industry Reform Act of 2001 or the EPIRA law.
The government's seizure of Meralco's assets can serve as a way to ensure the welfare of the consumers while the current liberalized power industry under EPIRA is yet to be reversed.