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EXECUTIVE ORDERS
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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 Sec. 4 OF REPUBLIC ACT NO.
6395, AS AMENDED
WHEREAS, as enunciated in Republic Act No.
7648, otherwise known as the Electric Power Crises 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 Sec. 4 of Republic Act No. 6395, as amended”; and
WHEREAS, the Department of Energy has recommended that, considering
that 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 Sec. 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 Manila,
this 5th day of May in the year of Our Lord, Nineteen Hundred and
Ninety-Three.
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