THE Cagayan de Oro City Council on Monday, January 20, passed a resolution urging the Department of Energy (DOE) to fast-track the release of the implementing rules and regulations (IRR) of the Murang Kuryente law, which entails savings for the consumers' electricity rates.

Councilor Edna Dahino, author of the resolution, said the new law approved on August of 2019 will help reduce electricity rates for consumers.

Under the law, households consuming 200 kilowatt/hours a month would save P169.48 a month or P2,033.74 a year.

The law allows government to allocate P208 billion of the net national government share from the Malampaya natural gas project for the payment of the stranded contract costs and stranded debts.

Initially intended to fund the exploration, development and exploitation of energy resources, the Malampaya fund has remained largely unused since 2001.

"This is a very important law since of the burdens of every household is electricity. But since it was signed by the President in August last year, there is still no IRR yet," she said.

Dahino also directed electricity providers in the city, both the Cagayan Electric Power and Light Company and Moresco-1, to explain the effect of the new law in the local scene.