Act Ordaining Reforms In The Electric Power Industry, Amending For The Purpose Certain Laws And For Other Purposes
It is hereby declared the policy of the State:
- To ensure and accelerate the total electrification of the country;
- To ensure the quality, reliability, security and affordability of the supply of electric power;
- To ensure transparent and reasonable prices of electricity in a regime of free and fair competition, full public accountability to achieve greater operational and economic efficiency, and enhance the competitiveness of Philippine products in the global market;
- To enhance the inflow of private capital and broaden the ownership base of the power generation, transmission and distribution sectors;
- To ensure fair and non-discriminatory treatment of public and private sector entities in the process of restructuring the electric power industry;
- To protect the public interest as it is affected by the rates and services of electric utilities and other providers of electric power;
- To assure socially and environmentally compatible energy sources and infrastructure;
- To promote the utilization of indigenous and new and renewable energy resources in power generation in order to reduce dependence on imported energy;
- To provide for an orderly and transparent privatization of the assets and liabilities of the National Power Corporation (NPC);
- To establish a strong and purely independent regulatory body and system to ensure consumer protection and enhance the competitive operation of the electricity market; and
- To encourage the efficient use of energy and other modalities of demand side management.
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