PCCI supports stricter rules on cross-ownership in power sector

The Philippine Chamber of Commerce and Industry (PCCI) expressed yesterday its support for stricter regulations on cross-ownership to increase competition in the power sector and lower the cost of energy in the country.

In a statement, PCCI president Donald Dee expressed the chambers’ support for the proposal of Socioeconomic Planning Secretary Romulo L. Neri to implement stricter and more stringent limitations on cross ownership between power generation and distribution utilities to prevent a monopoly in the power sector.

Dee acknowledged that "we need to have more reliable and affordable energy."

However, Dee stressed that "it is necessary for both industry and consumers to have access to affordable power to lower the cost of business in the country. And for this to be possible, the privatization effort of the Napocor assets must have a broader ownership base."

As such, Dee said, there is a need to make sure early in the negotiation process that the power plants have a supply contract even before they are bidded out to investors.

"The goal of EPIRA is to ensure reliable and affordable energy to end-users which consists of residential, commercial, industrial and large consumers," Dee added.

He continued that "an efficient and competitive power sector is one of the key elements of a viable business in the Philippines."