PBBM signs EO 83 to ensure affordable, stable power supply

PTVPhilippines

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00:00Independent power producers help fill out gaps left by major power suppliers in energizing the country,

00:07especially in remote or far-flung communities.

00:10Just like MSMEs, power producers need government assistance to survive and keep in business.

00:17So the president has heeded their call and thrown them a lifeline by way of back-end remedy of tax breaks and discounts,

00:25as our Floyd Brands reports.

00:28To ensure a stable power supply and affordable electricity rates,

00:33President Ferdinand R. Marcos, Jr. has signed Executive Order No. 83.

00:38This order mandates the reduction of real property taxes and the removal of interest and penalties

00:44for independent power producers operating under built-operate transfer contracts with the government.

00:50This aims to maintain the operation of power generation facilities

00:54and prevent the shutdown of power plants that provide a total of 3,100 megawatts of electricity,

01:01a situation that could lead to higher electricity prices or rotating brownouts if operations are halted or plants shut down.

01:09Under E.O. 83, instead of the 80% assessment level imposed by some local government units,

01:15property taxes for independent power producers in 2024 will be reduced

01:20based on a 15% assessment level of their facilities' fair market value.

01:25Interest and penalties or unpaid real property taxes will be waived, easing the financial burden on IPPs.

01:32To further strengthen and improve the leadership structure of the Philippine Coast Guard,

01:37Republic Act No. 12122 has been enacted.

01:40The law clarifies the appointment, term limits, and retirement policies for PCG officers.

01:46A maximum three-year term is now set for the PCG commandant to prevent frequent leadership changes that could disrupt operations.

01:54Once the term ends or if the commandant retirement is required,

01:58ensuring a smooth transition of leadership unless an extension is granted.

02:03The law also strengthens merit-based promotions requiring the commandant to be chosen from PCG flag officers.

02:10With a command at sea badge and prior experience as a district commander ensuring competence and leadership capability.

02:18From PTV Manila, Floyd Brents, Balitang Pampansa.

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