Senate energy panel chair hails passage of natgas bill

By INQUIRER.net – 10:27 AM November 12, 2024

The chairperson of the Senate committee on energy hailed the passage on final reading in the chamber of the proposed Philippine Natural Gas Industry Development Act (Senate Bill 2793) saying it ushers in a way to achieve energy security and lower costs for consumers.

The Senate on Monday passed on third reading the landmark bill which Cayetano sponsored on the floor.

“This is a momentous step forward as we strive to achieve energy security and sustainable economic growth. This legislation supports our own and also international commitments to cleaner, more efficient energy production,” said Senator Pia Cayetano, energy committee chairperson, shortly after the bill’s passage.

She said SB 2793 also “protects consumer welfare because encouraging more investments in natural gas will enhance energy security, providing for more accessibility to natural gas.”

“Historically, indigenous natural gas has been cheaper, and increasing opportunities for natural gas will only make the prices cheaper,” she said.

“Energy security is a generational commitment,” she said.

The full development of the country’s natural gas industry, she added, is key to achieving several objectives—transitioning to full renewable energy use, reducing dependence on imports and lowering costs for consumers.

“This is for the next generation. We hope to live healthy lives to witness the benefits of this measure,” she said.

“We take a stand and we decide that we want to develop our own indigenous sources…This is a transition fuel that we are also saying bigyan ng priority because indigenous fuel to, hindi lang puro importation,” Cayetano said.