New law to slash fourth quarter energy bills: senator

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Consumers ‘ energy bills could fall by the fourth quarter under a fresh law that would save them the burden of paying off National Power Corp’s debts of P450 billion, a lawmaker who pushed for the measure said Friday.

Consumers paid a part of the debt each month before the “Murang Kuryente Act,” listed in their bills as “universal charge.

“Once the universal charge is withdrawn, a family consuming 200 kwh per month can save P170 to P190 per month, Gatchalian said.

Napocor’s debts will be repaid with Malampaya gas field income and proceeds from the sale of government energy assets sold through PSALM or the Power Sector and Liabilities Management Corp.

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