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The Senate on Monday approved on third and final reading the bill seeking to develop the natural gas industry by revitalizing indigenous gas explorations and developing liquified natural gas infrastructures. Senate Bill 2793 garnered 14 affirmative votes, three negative votes, and zero abstention. Senate Minority Leader Aquilino "Koko" Pimentel III, Deputy Minority Leader Risa Hontiveros, and Senator Sherwin Gatchalian voted against the passage of the measure.
"This means that even if power from other conventional energy sources will have a lower bid in the wholesale electricity spot market than power from indigenous natural gas, the latter will still be prioritized. This will push up spot prices, thereby placing the burden of higher prices on consumers," Gatchalian said.Secondly, Gatchalian expressed concern over the absence of a competitive bidding or price discovery mechanisms for the procurement of indigenous natural gas.
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