The American Chamber of Commerce of the Philippines (AmCham) expressed support to ammend the Electric Power Industry Reform Act (EPIRA) to resolve pressing energy issues and guarantee energy security.
This statement came after President Ferdinand Marcos Jr. called for a review of the EPIRA in his third State of the Nation Address (SONA)
In a report by the Manila Bulletin, AmCham said that the spike in electricity rates, partnered with unstable energy supply conditions, worry investors considering establishing data centers and manufacturing facilities in the country.
Among the amendments being pushed under EPIRA is the extension of life of the Power Sector Assets and Liabilities Management Corporation (PSALM), which will be dissolved after June 2026.
Earlier, Energy Secretary Raphael Lotilla said that extending PSALM’s corporate life is critical in the planned restoration of Mindanao’s Agus hydropower complex, as the company could act as a parallel in any arrangement the state enters into for the facility’s makeover.
Another amendment being considered was to bolster the Energy Regulatory Commission’s (ERC) regulatory function, allowing it to operate independently in the energy sector.
However, energy think tank Institute for Climate and Sustainable Studies (ICSC) said that amending the EPIRA law is not needed at this time, but its implementing rules and regulations should be revised instead.
The group also advocated for the elimination of automatic fuel cost pass-through provisions in power contracts, which they claim have impacted customers financially for years.
