Home Page




About Us




Reports




Statistics




New Laws/Regs




Library




Facts




Opeds and Speeches




Links



Contact Us



Topic
Region
Industry




New Laws/Regs

Philippines Reforms Power Markets. By Jaime Niño
Jun 12, 2001

The Philippines has a new regulatory framework for power markets that gives greater participation to private investors, including the selling of the state’s debt-ridden National Power Corp. The new law, enacted last week is intended to open the power sector to more foreign investment, avoid power shortages and lower power rates that are among the highest in Asia. In addition, the enactment of the bill will pave the way for around $950 million in multilateral loans for the development of the power sector.

The Omnibus Power Bill was approved after six years of wrangling in the legislature. Foreign investors and multilateral lenders view the power bill as an important step forward. Critics of the power bill have vigorously opposed the provision that requires the government to absorb $4 billion of Napocor’s $6 billion debt to facilitate its privatization. The government argued that it would be impossible to sell Napocor if it isn't relieved of most of its debts.

About Us | Statistics | New Laws/Regs
Library | Facts | Opeds and Speeches | Links | Contact Us




Copyright © 2000, The Mark Twain Institue.
This web site was programmed and designed by Americaneagle.com, Inc.