PHILIPPINES, November 11 - Press Release
November 11, 2024

Transcript: Manifestation of Senate Energy Committee Chairperson, Senator Pia S. Cayetano
Following the third reading passage of the Philippine Natural Gas Industry Development Bill (SB No. 2793)

(Note: Checked vs. delivery)

Mr. President, just a very quick statement. I would like to thank our colleagues for the support for this historic measure, the passage of Committee Report No. 304 or the Philippine Natural Gas Industry Development Act.

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. We have to remember that Natural Gas is a transition fuel and our goal is to move to renewables. This also protects consumer welfare because with the entry, with the encouragement of more investments in natural gas, we will have energy security that will be able to provide for more accessibility to natural gas. And consumers will be able to benefit from this. Again, historically, indigenous natural gas has been cheaper, and to have more opportunities for natural gas will only make the prices more cheaper.

I thank all our colleagues, and we are looking forward to see the benefits of this measure, not tomorrow, not at the end of the year, because energy security is a generational commitment. So this is for the next generation. We hope we all live healthy lives to see the benefits of this measure.

Thank you Mr. President.

Part 2

Mr. President I would just like to clarify a few matters. It's a very important bill. To be clear, it's good for the country. It is good for the environment. And it is good for every consumer.

This bill will help us, just like agricultural products, ensure we can have our own supply. We can be a (nation importers?) if that's what we want. But no. We take a stand and we decide that we want to develop our own indigenous sources. Renewable energy, under existing laws, already has priority. Sila ang mauuna. This is a transition fuel that we are also saying bigyan ng priority because indigenous fuel to, hindi lang puro importation. To make it clear, pwede pa din mag import, we can still do that, but we are paving the ground for indigenous sources which will make it cheaper for our consumers.

Mr. President to also be very very clear, we have prized mechanisms, we have transparency. The law is very clear about fair and open access. Hindi po totoo na hindi malalaman ang presyo. Hindi po totoo na ipipilit sa mga consumers ang mamahalin na presyo. Ilang beses ko po pinakita sa chart sa ating mga kababayan, sa ating mga kasama, na historically napakababa nga ng presyo ng indigenous gas, kaya wag ho natin takutin ang ating mga kababayan na by prioritizing indigenous gas ay magmamahal. Hindi po totoo yon.

And what I'd also like to emphasize Mr. President is currently, ngayon, ang mga power power plants nagnenegotiate ng kanilang.. Kung anong presyo nila bibilhin yung fuel supply nila. Nagnenegotiate, wala hong bidding. So wala ho akong pinapalitan, hindi ko ho tinatanggalan ng bidding kasi wala hong bidding sa level na yon. Negotiated po yon. Those are supply agreements. Ganoon pa rin. Same ang patakaran. Fair and open access to all the information available.

So again I repeat, this bill is good for the country. This bill is good for the environment. And this bill is good for the Filipino consumers. Thank you.

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