The House Committee on Energy on Monday approved a measure authorizing the use of the Malampaya Fund to finance the rehabilitation or replacement of energy infrastructure damaged, or in danger of being damaged, by natural and man-made calamities.
House Committee on Energy Chairman and Liberal Party (LP) Rep. Reynaldo V. Umali of Oriental Mindoro said members of the panel have unanimously approved the substitute bill that seeks to amend Presidential Decree (PD) 910.
Currently, several measures seek to amend PD 910 governing the use of Special Funds, including the accumulated royalties from the Malampaya gas-to-power facility.
Under the measure, the Malampaya Fund may be used to finance the rehabilitation or replacement of energy infrastructure, including but not limited to, generation, transmission and distribution facilities in preparation for and response to natural and man-made calamities.
It also said that the Energy Development Board, which is composed of officials from departments of Finance, Energy, and Trade and Industry, is required to submit an annual report to the Joint Congressional Power Commission and the President detailing the fund releases used to finance the repair and replacement of energy infrastructure damaged by calamities.
According to the data of the committee, the Malampaya Fund is now at P167.2 billion as of March 2015.
The bill also aims to electrify or energize all barangays in the country.
The Malampaya Fund was created by President Ferdinand Marcos through PD 910 in 1976, “for energy self-sufficiency” following the oil crisis due to the Middle East war.
Meanwhile, authors of the substitute bill include Reps. Winston T. Castelo (Quezon City, Liberal Party), Ben P. Evardone (Samar, LP), Neri J. Colmenares (Bayan Muna), Luzviminda C. Ilagan (Gabriela), Francisco Ashley L. Acedillo, Gary C. Alejano (Magdalo), Rufus B. Rodriguez (Cagayan de Oro), Maximo B. Rodriguez Jr. (Abante Mindanao), Edgardo R. Masongsong (1-CARE), Antonio L. Tinio (Act Teachers), Emmi A. de Jesus (Gabriela), Fernando L. Hicap (Anakpawis), Terry L. Ridon (Kabataan), Carlos Isagani T. Zarate (Bayan Muna), Mercedes C. Cagas (Davao del Sur, Nacionalista Party), Napoleon S. Dy (Isabela, Nationalist People’s Coalition), Lani Mercado-Revilla (Cavite, Lakas), Aleta C. Suarez (Quezon, Lakas), Michael Angelo C. Rivera (1-CARE), Rodel M. Batocabe (Ako Bicol), Emil L. Ong (Samar, National Unity Party), Alfredo B. Benitez (Negros Occidental, LP), Gustavo S. Tambunting (Parañaque, United Nationalist Alliance), Reynaldo V. Umali (Oriental Mindoro, LP) and Jesus N. Sacdalan (North Cotabato, LP).