Senator Pia Cayetano, chair of the Senate committee on energy, said Senate Bill (SB) 2793, or the proposed Philippine Natural Gas Industry Development
Senator Pia Cayetano, chair of the Senate committee on energy, said Senate Bill 2793, or the proposed Philippine Natural Gas Industry Development Act, which was approved on second reading Tuesday, will promote energy security and protect consumers from higher electricity costs.
Cayetano said the Senate has a “once-in-a-lifetime chance” to pass a key piece of legislation prioritizing indigenous fuel over imports, adding that over a span of 14 years, indigenous gas prices have remained steady compared to the volatile and often rising costs of imported fuels. She said this would contradict the goal of the measure, which seeks to create an investor-friendly environment in the Philippine natural gas industry. The amendment lost 15-4.
“There are strict provisions on market pricing in the service contracts that the DOE and ERC are duty-bound to uphold. They are in place…This bill essentially maintains the status quo,” Cayetano said, adding that both agencies, along with the Philippine Competition Commission ensure transparent negotiations and dealings.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Alan Cayetano: New Senate Building now costs P31B in updated planLatest Philippine news from GMA News and 24 Oras. News, weather updates and livestreaming on Philippine politics, regions, showbiz, lifestyle, science and tech.
Read more »
Mayor Lani Cayetano picks another bet over in-law Lino for Taguig representativeLino Cayetano says that he initially wanted to run as mayor but opted to run for a House seat to give way to his sister-in-law Mayor Lani Cayetano
Read more »
Cayetano asks DENR to review reclamation projectsSenator Alan Peter Cayetano called for a comprehensive review of ongoing reclamation projects, particularly around Manila Bay, to consider both ecological
Read more »
Cayetano calls for reassessment of 4Ps implementationSenator Alan Peter Cayetano is urging the Department of Social Welfare and Development (DSWD) to reassess the implementation of the Pantawid Pamilyang
Read more »
Boy Abunda lauds Alan Peter, Pia Cayetano for sharing legislative insights on ‘CIA with BA’Boy Abunda expressed his admiration for his co-hosts, Senators Alan Peter and Pia Cayetano, particularly in their efforts to shed light on the intricacies of the legislative process.
Read more »
Alan Peter Cayetano celebrates birthday on ‘CIA with BA,’ answers ‘hard’ questions“Debate sa Senate o debate kay misis?” This was one of the questions answered by Alan Peter Cayetano in the October 27 episode of CIA with BA, featuring a special edition of the segment Payong Kapatid to celebrate his birthday.
Read more »