THE Senate on Monday approved on third and final reading the bill to develop the natural gas industry, noting the urgency of bolstering the country’s energy mix for a rational transition from an over-reliance on fossil fuels.
However, the former energy panel chairman Win Gatchalian, and Deputy Minority Leader Risa Hontiveros cautioned against scuttling a key pillar of the Epira, which is the “least-cost” principle that she describes as the people’s best hedge against unreasonable power rates.
Under the bill, Hontiveros explained, the domestic natural gas sector would be under no pressure to match their selling price with what is available from regional and global markets. She said the Philippine energy sector would be required to purchase everything that the sector would produce and even the most inefficient wells will be guaranteed a market.However, main sponsor of the bill Sen. Pia S. Cayetano defended the measure.
According to Cayetano, the passage of the bill will benefit the country and the next generation because historically, indigenous natural gas has been cheaper. “This is a momentous step forward as we strive to achieve energy security and sustainable economic growth. This legislation supports our own and also international commitments to cleaner and more efficient energy production,” Cayetano said.
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