Declaration of Policy.
Section 2
SEC. 2. Declaration of Policy. — It is hereby declared the policy of the State: To ensure and accelerate the total electrification of the country; To ensure the quality, reliability, security and affordability of the supply of electric power; To ensure transparent and reasonable prices of electricity in a regime of free and fair competition and full public accountability to achieve greater operational and economic efficiency and enhance the competitiveness of Philippine products in the global market; To enhance the inflow of private capital and broaden the ownership base of the power generation, transmission and distribution sectors; To ensure fair and non-discriminatory treatment of public and private sector entities in the process of restructuring the electric power industry; To protect the public interest as it is affected by the rates and services of electric utilities and other providers of electric power; To assure socially and environmentally compatible energy sources and infrastructure; To promote the utilization of indigenous and new and renewable energy resources in power generation in order to reduce dependence on imported energy; To provide for an orderly and transparent privatization of the assets and liabilities of the National Power Corporation (NPC); To establish a strong and purely independent regulatory body and system to ensure consumer protection and enhance the competitive operation of the electricity market; and To encourage the efficient use of energy and other modalities of demand side management.