MANILA A senator said the signing of the Energy Virtual One-Stop Shop (EVOSS) Act into law will herald the rejuvenation of the energy sector.
Senator Sherwin Gatchalian, chair of the Senate committee on energy, said Friday the newly signed law would eliminate red tape in the energy sector as it aims to streamline the permitting process of power generation, transmission, and distribution projects.
With this law in place, red tape in the energy sector will soon become a thing of the past as it promotes faster, simplified permitting process that would allow foreign and domestic investors with the capacity to build cutting-edge power plants to enter the market and stimulate competition in the Philippine energy generation industry, Gatchalian said in a statement.
The increased competition would then drive down generation costs, he added.
Gatchalian estimated that a decrease in generation costs could lead to a reduction in consumer electricity prices by as much as PHP0.35 per kilowatt-hour (KWh).
This means that an average household with a consumption rate of 200 kWh per month would have PHP840 in total savings every year, he noted.
Ito na ang hudyat ng pagkaroon ng mas murang kuryente sa bansa. Umaasa kami na ang iba pa nating mga panukalang batas na naglalayong mapababa ang singil sa kuryente, kasama na ang Murang Kuryente Act, ay pipirmahan din ng ating Pangulo sa mga susunod na araw (This signals the start of lower electricity rates in the country. We are hoping that other legislative measures that aim to bring down the cost of electricity, including the Murang Kuryente Act, would be signed by the President in the coming days), Gatchalian said.
Signed by President Rodrigo Duterte last March 8, the EVOSS Act (Republic Act 11234) aims to create unified forms to remove duplications and redundancies in the documentary requirements.
Under the new law, EVOSS will also have an online payment system where application fees for permits and certifications are fixed.
The EVOSS will apply to all new power generation, transmission, or distribution projects in the country and in national and local government units, including government-owned and -controlled corporations (GOCCs).
The Department of Energy is mandated to supervise the EVOSS. (PNA)
Source: Philippines News Agency