House of Senate Philippines

Congress Murang Kuryente Act

31 May: Congress approves Murang Kuryente Act this week

Congress approved the proposed “Murang Kuryente Act” this week by ratifying Senate Bill (SB) No. 1950 on May 28 and House Bill (HB) No. 8869 on May 29. The Act seeks to lower power rates by transferring billions worth of the Malampaya fund as payment for the debts (stranded contract costs and stranded debts) of the National Power Corporation (Napocor).