Search
Close this search box.

Senate Weighs Nuclear Liability Update Amid Investor Interest

Manila: The Senate Committee on Science and Technology on Thursday weighed a proposal to modernize the country's nuclear liability framework as science and energy officials said clearer rules are key to unlocking private investment and ensuring accountability in case of a nuclear incident. During a Senate hearing on Senate Bill No. 1206, Department of Science and Technology-Philippine Nuclear Research Institute Director Carlo Arcilla said the country is close to completing key institutional requirements for nuclear power development, including the operationalization of an independent nuclear regulator.

According to Philippines News Agency, Arcilla stated that the establishment of the Philippine Atomic Energy Regulatory Authority (PhilAtom) is nearing completion, with the drafting of implementing rules and regulations underway. Once finalized and leadership appointed, this regulator will be responsible for overseeing nuclear safety, security, and safeguards. PhilAtom, created under Republic Act No. 12305, or the Philippine National Nuclear Energy Safety Act, signed by President Ferdinand R. Marcos Jr. in September last year, serves as the country's independent nuclear regulator and consolidates previous regulatory powers.

Arcilla explained that nuclear facilities in the Philippines require two key permits: a license to construct and a license to operate. He noted that power rates and pricing would be under the jurisdiction of the Energy Regulatory Commission. Senator Bam Aquino, who presided over the hearing, emphasized the importance of a modern liability regime to provide investors and the public with clear guidelines on responsibility and compensation in the event of accidents, noting that several firms are interested but await regulatory clarity.

The Department of Energy (DOE) highlighted growing industry interest, with nuclear energy seen as a low-carbon baseload option that can complement renewable power sources. DOE Energy Utilization Management Bureau Director Patrick Aquino reported that companies have expressed their intent to explore nuclear projects while awaiting developments on PhilAtom and the proposed liability measure.

Senate Bill No. 1206 aims to update the Atomic Energy Regulatory and Liability Act of 1968 to align with international standards, including the 1997 Vienna Convention and the Convention on Supplementary Compensation for Nuclear Damage. The measure establishes strict and exclusive operator liability, sets financial security requirements, and provides mechanisms for claims and compensation, as outlined in Senate research notes presented during the hearing.