ERC celebrates EPIRA’s 2nd year anniversary—Sanchez bats for the Regulator’s fiscal autonomy

Energy Regulatory Commission (ERC) Chairman Manuel R. Sanchez commended the agency’s 187-strong work force for the significant accomplishments of the Commission for the past two years in anticipation of the second year anniversary of the Electric Power Industry Reform Act (EPIRA) on June 26, 2003.

“The world is watching the regulatory body how it could ably provide a regulatory environment that would transform the electric industry into a dynamic and competitive electricity market,” said Chairman Sanchez.

He noted, however, that regulatory resources have been a perennial constraint to the reforms being instituted by ERC in the industry. Having this in mind, he sounded off the lawmakers to give ERC fiscal autonomy.

“I believe that for ERC to be strong and independent, it should have fiscal autonomy,” Chairman Sanchez said as he underscored the role of the economic regulator in the power sector.

The milestone accomplishments of ERC for the past two years, among other things, included the issuance of 24 unbundling decisions, 78 orders for the Provisional Authority (PA) to reduce rates as a result of loan condonation, and 9 sets of rules and regulations, guidelines and procedures.

Chairman Sanchez emphasized that ERC is an independent quasi-judicial and quasi-legislative body performing both adjudicatory and rule making functions. “This explains why the Commission has always been working double time to meet the statutorily prescribed timelines.”

Highlights of the EPIRA anniversary celebration by ERC will include the launching of the ERC Text Project and the awarding of Certificates of Compliance (COC) to 5 Independent Power Producers (IPPs).

ERC Chairman Manuel R. Sanchez sings with Commissioner Leticia V. Ibay during the second year anniversary celebration of the enactment of the Electric Power Industry Reform Act (EPIRA) of 2001. The occasion was highlighted by the official launching of the ERC Text Project and the awarding of Certificates of Compliance (COC) to 5 Independent Power Producers (IPPs). ERC officers and personnel took some time in the afternoon for some parlor games and entertainment. The celebration was held at the ERC main office in Ortigas, Pasig City last June 27.

July 27, 2003