Energy Dept: Scrapping of EPIRA law will not bring power rates down

The Energy Department said scrapping the 13-year-old Electric Power Industry Reform Act or EPIRA law will not immediately drive electricity rates lower, according to a report aired on GMA News' 24 Oras Wednesday.

Energy Secretary Carlos Jericho Petilla said what is needed are long-term solutions to solve the country's energy problems.

On Wednesday morning, the Energy Department held public consultations following public clamor to review the EPIRA law, but attendees asked government to repeal the law instead.

Petilla said reviewing the EPIRA law does not necessarily mean it will be amended.

On June 8, 2001, then-President Gloria Macapagal-Arroyo signed EPIRA into law with the goal of bringing down electricity rates and improving supply through greater competition and efficiency. — Danessa O. Rivera/BM, GMA News