The government is hopeful that Congress will soon pass a bill to establish a regulatory framework for nuclear power despite time constraints.
Department of Energy (DOE) Secretary Raphael Lotilla said during a press briefing in Malacañang that the House of Representatives has already approved the bill on its third and final reading. However, the legislative measure was still undergoing Senate deliberations.
“We are optimistic that the Senate will be able to move it forward and therefore be able to come up with legislation during this Congress,” Lotilla said.
“We’ll take it from there because we are strongest when both the executive and the legislature speak with one voice.”
Lotilla acknowledged that legislators have been moving quickly, conducting committee hearings, and engaging in further discussions on the matter.
When asked about the benefits of adopting nuclear energy, especially regarding reducing power costs, Lotilla said it was difficult to provide a definitive answer.
However, he noted that over the lifespan of a nuclear plant— which is generally longer than that of other types of power plants— the costs would be spread out over this extended period, ultimately making it more economical.
Lotilla also revealed that one of DOE’s requests to the Maharlika Investment Corp. (MIC) was to investigate the financing aspects of nuclear power development, as President Ferdinand R. Marcos Jr. suggested.
“The financial analysis can be effectively undertaken by the Maharlika Investment Fund so that the government can gain a clearer understanding of financing costs and returns,” he said.
Lotilla stressed that the President was not focusing on just one or a small group of companies when adopting nuclear technology. Instead, he wanted to stay informed about developments from various companies to gain a thorough understanding of the sector.
Under the Electric Power Industry Reform Act (EPIRA) or Republic Act No. 9136, only the private sector can participate in electricity generation.
Lotilla said that the government is open to collaborating with private entities to introduce nuclear power into the country.
“It’s not even the government, then we will have to work with the private sector [to] bring in nuclear power,” Lotilla said. | PND
