REPUBLIC ACT NO. 11371
AN ACT REDUCING ELECTRICITY RATES BY ALLOCATING A PORTION OF THE NET NATIONAL GOVERNMENT SHARE FROM THE MALAMPAYA NATURAL GAS PROJECT FOR THE PAYMENT OF THE STRANDED CONTRACT COSTS AND STRANDED DEBTS
SECTION 1. Short Title. — This Act shall be known as the "Murang Kuryente Act."
SECTION 2. Declaration of Policy. — It is hereby declared the policy of the State to protect public interest by ensuring the provision of reliable, secure, and affordable supply of electric power to consumers. Towards this end, the State shall implement policies and programs to ensure transparent and reasonable prices of electricity to consumers by minimizing the universal charges for stranded contract costs and stranded debts.
SECTION 3. Definition of Terms. — For purposes of this Act, the following terms shall be defined as stated below:
(a) Joint Congressional Energy Commission (JCEC) refers to the congressional commission constituted under Section 62 of Republic Act No. 9136, otherwise known as the "Electric Power Industry Reform Act of 2001," as amended by Republic Act No....
