Proposed natural gas law ensures energy security, power price shield

The proposed Philippine Natural Gas Industry Development Act, approved at the Senate on second reading, will promote energy security and protect consumers from higher electricity costs, the chair of the Senate committee on energy said.

"Let us prioritize indigenous natural gas; this is ours. It will promote energy security and the record shows that it has by far more stable in pricing and lower in pricing," Sen. Pia Cayetano said.

She said the Senate has a "once-in-a-lifetime chance" to pass a key piece of legislation prioritizing indigenous fuel over imports, adding that over a span of 14 years, indigenous gas prices have remained steady compared to the volatile and often rising costs of imported fuels.