"I stand by the President to help her in making the lives of our families more comfortable in terms of energy sufficiency, affordability and security," Perez said.
Perez issued this statement amid persistent rumors that the energy chief might be affected by the alleged major Cabinet revamp on Nov. 30.
"The rumors are completely unfounded. President Gloria Macapagal-Arroyo called me this morning to deny the rumors (of possible revamp) and I also assured her that I plan to stand by her as long as she pleases," he said.
According to Perez, there are many things that they have lined up in the energy and power sector to ensure that the country will not lag behind its Asian neighbors in terms of providing reliable and cheap electricity. "We still have so much to do in power reforms, rural electrification, oil deregulation, promoting cleaner fuel and giving the consumer the power of choice," he said.
Perez is tasked with implementing the Electric Power Industry Reform Act (EPIRA).
Under EPIRA, the restructuring of the power sector and privatization of the National Power Corp. (Napocor) was to immediately follow but up to now, these have not been accomplished. The Napocor privatization which should take place three years after the signing of EPIRA or by June 2004, is facing delay due to the failure of Congress to approve a bill granting a franchise to the National Transmission Corp. (Transco), an entity managing the Napocor’s transmission assets. The restructuring of the power sector, on the other hand, hinges on the successful privatization of the state-owned power firm.
So far, Perez has been able to successfully implement the mandated 30-centavo per kilowatthour reduction in power rate under the EPIRA.
Within this month, the Department of Energy is seeing through the carrying out of the Special Program to Enhance Electricity Demand and the establishment of the Wholesale Electricity Spot Market (WESM).