AN ACT AMENDING SECTION 50 OF REPUBLIC ACT NO. 9136, OTHERWISE KNOWN AS THE "ELECTRIC POWER INDUSTRY REFORM ACT OF 2001"
Electric Power Industry Reform Act of 2001
Year:
2025
Category:
Other
Date Approved:
April 18, 2025
Summary
Plain-language AI-assisted summary — not the official text. As of July 1, 2026. Read the full text below or on the official source.
This Act amends Section 50 of Republic Act No. 9136, which pertains to the management and privatization of assets by the Power Sector Assets and Liabilities Management Corporation (PSALM Corp.). It extends the existence of PSALM Corp. for an additional ten years and prohibits it from charging consumers for stranded costs during this period.Full Text
[ REPUBLIC ACT NO. 12179, April 18, 2025 ]
AN ACT AMENDING SECTION 50 OF REPUBLIC ACT NO. 9136, OTHERWISE KNOWN AS THE "ELECTRIC POWER INDUSTRY REFORM ACT OF 2001"
Be it enacted by the Senate and House of Representatives of the Philippines in Congress assembled:
Section 1. Section 50 of Republic Act No. 9136, otherwise known as the "Electric Power Industry Reform Act of 2001", is hereby amended to read as follows:
"Section 50. Purpose and Objective, Domicile and Term of Existence. - The principal purpose of the Power Sector Assets and Liabilities Management Corporation (PSALM Corp.) is to manage the orderly sale, disposition, and privatization of NPC generation, assets, real estate, and other disposable assets, and IPP contracts with the objective of liquidating all NPC financial obligations and stranded contract costs in an optimal manner.
The PSALM Corp. shall continue to exist for a period of ten (10) years from the expiration of its original term on June 26, 2026. All assets held by it, all moneys and properties belonging to it, and all its liabilities outstanding upon the expiration of its term of existence shall revert to and be assumed by the National Government: Provided, That PSALM Corp. shall be prohibited from collecting or charging consumers for stranded costs and stranded debts during its extended corporate life, except as otherwise approved by the Energy Regulatory Commission (ERC) prior to the date of the passage of this Act."
Section 2. Repealing Clause. - All laws, presidential decrees, executive orders, letters of instruction, proclamations, or administrative regulations that are inconsistent with the provisions of this Act are hereby repealed, amended, or modified accordingly.
Section 3. Effectivity. - This Act shall take effect fifteen (15) days after its publication in the Official Gazette or in a newspaper of general circulation.
Approved,
This Act, which is a consolidation of Senate Bill No. 2837 and House Bill No. 10592, was passed by the Senate of the Philippines and the House of Representatives on February 3, 2025 and February 4, 2025, respectively.
Approved: Lapsed into law APR 18 2025, without the signature of the President, in accordance with Article VI, Section 27(1) of the Constitution.
FERDINAND ROMUALDEZ MARCOS JR.
President of the Philippines
Share
PDF Document
Source
Official source from LawPhil:
View on LawPhil Last updated: Jul 1, 2026About
Republic Acts are laws passed by the Congress of the Philippines. This content is sourced from LawPhil (lawphil.net) for reference purposes. For official and authoritative texts, please refer to the Official Gazette.