Executive Order No. 86
FIXING THE RATE OF RETURN ON RATE
BASE OF THE NATIONAL POWER CORPORATION AT TWELVE PERCENT OF THE RATE BASE AS
DEFINED IN SECTION 4 OF REPUBLIC ACT NO. 6395, AS AMENDED
WHEREAS,
as enunciated in
Republic Act No. 7648, otherwise known
as the
Electric Power
Crisis Act of 1993, it is the “declared policy of the State to adopt adequate
and effective measures to address the electric power crisis that has disrupted
the country’s economic and social life and assumed the nature and magnitude of
a public calamity”;
WHEREAS,
the same law provides, among others, that in pursuance of the said policy, the
President is “authorized, whenever it is necessary for the national welfare and
in the public interest, to fix the rate of return on rate base of the
National Power Corporation (NAPOCOR) to
not more than twelve percentum (12%)
of the rate base as defined in Section 4 of
Republic Act No.
6395, as amended”; and
WHEREAS,
the
Department of Energy has recommended
that, considering the gravity of the current electric power crisis, it is
necessary for the national welfare and in the public interest that the rate of
return on rate base of the
NAPOCOR be
adjusted from ten percent, (10%) to twelve percent (12%) of the rate base.
NOW, THEREFORE, I, FIDEL V. RAMOS,
President of the Republic of the Philippines, by virtue of the powers vested in
me by law, do hereby fix the rate of return on rate base of the
National Power Corporation from ten
percent (10%) to twelve percent (12%) of the rate base as defined in Section 4
of Republic Act No. 6395, as amended.
This Order shall take effect the day following its complete
publication in a newspaper of general circulation.
Done in
the City of
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