President Ferdinand R. Marcos Jr. has called on lawmakers to review the Electric Power Industry Reform Act of 2001 (EPIRA) to determine if current energy policies are still suitable, particularly in addressing the country’s high electricity rates.
During his third State of the Nation Address (SONA) on Monday, President Marcos emphasized the need for a collective effort to reevaluate the EPIRA law due to the burdensome electricity prices affecting both businesses and the general populace.
“Hinihiling ko sa Kongreso na pag-tulungan na natin ito, alang-alang sa kapakanan ng mga Pilipino. Sa taas ng presyo ng kuryente sa bansa, nahihirapan hindi lamang ang mga negosyante —kundi lalo na ang taumbayan,” he stated.
On top of this, initiatives are also in place to mitigate the continuous increase in energy prices.
“We all know that the price of electricity in our country is high. So we continue to add power infrastructure that will eventually bring down the price. On the other hand, we also ensure that consumers are charged fairly,” President Marcos added.
A study by the Ateneo Center for Economic Research and Development highlighted that as of December 2021, electricity prices in the Philippines remain among the highest in Southeast Asia, at USD 0.16 per kilowatt hour, only trailing Singapore at USD 0.18 per kWh and surpassing Thailand and Indonesia at USD 0.10 per kWh, and Malaysia at USD 0.05 per kWh.
