Lanao del Norte representative Alipipo Badelles, who is also JCPC co-chairman, said that aside from the review of the previously-conducted IPP renegotiations, there is also a proposal to undertake another round of review of IPP contracts.
"That is one of the proposed amendments in the Electric Power Industry Reform Act (EPIRA). That is going to be under consideration but there is no decision yet," Badelles said.
"As energy committee chairman, there is no basis yet to suggest another review because there is no urgency and because among IPPs, it might trigger instability. They may insist on sanctity of contracts," Badelles added.
But the lawmaker pointed out that what is needed right now is to take a closer look on the results of the first review on IPP contracts.
"What we want is to check the results of the last review. We will issue a resolution next month," he said.
He said the review has been ongoing for quite some time.
"It’s been two years already. The committee would want to know if there are concrete benefits that came out from the review committee. Are there defects? We want to see," he added.
The Philippine Independent Power Producers Association (PIPPA) has been opposing a second round of renegotiation of their contracts with the government as this would send a wrong signal to existing and prospective investors in the power sector.
PIPPA president Ernesto B. Pantangco said IPPs have been raising concern on the sudden changes in regulations of the government.
In particular, Pantangco said they have been closely looking at the regulatory stability, amidst the privatization efforts of the government.