House of Representatives Committee on Energy conducted a meeting to discuss the Malampaya Funds

“Last February 13, 2018, the House of Representatives Committee on Energy deliberated on house Bills seeking for the streamlining of these release of the Malampaya Funds. Some of the options being discussed is to transfer the Malampaya Funds to the General Fund as well as to specify the use of Malampaya Funds or to authorize the use of the special fund composed of the government share from the exploration, development and exploitation of energy resources for the development of renewable energy.

During the hearing, Representative Uybarreta suggested the use of Malampaya Fund to subsidize the universal charge, stranded debts and stranded contracts costs that are being collected from the consumers. He also asked for comment on the effect of his suggestion to which Meralco said that it will significantly reduce the cost of electricity”

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