Powers and Functions.
Section 2
SEC. 2. Powers and Functions.—The Council shall have the principal responsibility over primary energy sources for generation of electric power. It shall have the following powers and functions: To coordinate the activities and operations of all sectors involved in electrification and power development; To formulate and approve policies and programs for the power industry; To provide the policy framework for allocation of service areas and the regulation of electric power rates; To assist agencies involved in power development to avail of financial and/or technical assistance for the implementation of their programs; To monitor and review projects and attendant contracts and transactions of power agencies with the objectives of analyzing their resource impact on government finances and foreign ex change budget, assuring power supply for priority industries and assuring complementation with the overall development program. To initiate or undertake such measures as may be necessary for the efficient and effective functioning or operations of power agencies; and To exercise all such other powers and functions as may be delegated or assigned by the President.