MANILA, Dec 20 — The Electric Power Industry Reform Act of 2001 was passed by congress designed as a boon to the electric power generators and wholesalers but a bane to end users, the consumers.
Now, Senate President Franklin Drilon raised the possibility of amending the law regulating the power industry, after calling for its review.
One of the issue raised in a press conference Thursday was the suspected collusion of power generators. This, after the highest increase in power rates in the country was ever conceived.
“I will call for a review of the EPIRA law as a result of our hearing in the Senate (last Dec 18) and examine how we can prevent the repetition of what we saw in the last 30 days about the very stiff increase in our charges,” he said.
Drilon alos mentioned that even without the review, the country had laws which punished monopolies and combinations in restraint of trade.
“This is punishable under our revised penal code, specifically monopolies and combinations which tend to restrict free commerce is punishable,” he added.
In this light, the Department of Justice and the National Bureau of Investigation were called upon to conduct an in-depth investigation on the alleged collusion.
While the good motives of EPIRA was to promote free competition among the players in power generation, the result was the exact opposite, a monopoly. (PNA)
THIS ARTICLE IS RELATED TO power generation