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Consumers close to enjoying lower electricity costs


MANILA, Philippines - The Philippines is just one percent shy of goals that, once reached, will allow consumers to choose their electric companies, leading to increased competition and lower prices. Once the government sells 70 percent of all of the National Power Corp.’s (Napocor) generating assets, open access and retail competition—as indicated in the Electric Power Industry Reform Act (EPIRA)—will enable electricity users to enjoy lower costs. With the sale of the Tiwi-Makban plant, the government has now reached a completion rate of 69 percent, the Philippines’ energy secretary said. To meet these goals, the government agency mandated to sell Napocor assets—the Power Sector Assets and Liabilities Management Corp. (Psalm)—has booked three more facilities for auction. These include the decommissioned 108-megawatt (MW) Aplaya and 22.3-MW General Santos diesel power plant package, and the second round of bidding for the generating 146.5-MW Panay and 22-MW Bohol diesel power complex, and the 0.8-MW Amlan Hydroelectric Power Plant. Total privatization proceeds have already reached $1.5 billion as of July 10. These funds will be used to pay for Napocor’s debts. - GMANews.TV
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