Section 2
SEC. 2. Section 3 of the same Act is hereby further amended by adding a new subsection (1) which reads as follows: "(1) "Public Utilities Priorities Plan" shall mean the plan prepared by the Board in consultation with the Board of Transportation, Board of Power, Power Development Council, and other appropriate government agencies. Such plan shall be approved by the President upon recommendation of the National Economic and Development Authority (NEDA), which shall contain a listing of specific public utilities which can qualify for incentives under this Act, and which shall be supported by studies of existing and prospective regional demands for such services in the light of the level and structure of income, production, trade, prices and relevant economic and technical factors of the regions as well as the existing facilities to produce such service."