MANILA, Philippines - The Senate on Wednesday passed on second reading SB1950 or the Murang Kuryente Bill which will provide cost-saving electricity rates to consumers,especially poor families. The bill, once enacted, will reduce electricity rates by allocating national government shares from the Malampaya fundsfor the payment of the stranded contract costs and stranded debts of the National Power Corporation (Napocor). Senate President Pro-Tempore Ralph Recto said the measure complied with Presidential Decree 910. "This bill, I have been assured, complies with Presidential Decree (PD) 910 and the Supreme Court ruling on the matter. The katas ng Malampaya will be plowed back to ...
Keep on reading: Senate OKs Murang Kuryente bill on second reading
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