00:00And at this point, we will discuss an update on the programs of the current administration here in Mr. President on the go.
00:22First of all, my fellow countrymen, the Maharlika Investment Corporation, or MIC President and CEO Rafael Consing Jr.,
00:31that there will be an effect on the payment of electricity by consumers,
00:35was done by the MICs of the National Grid Corporation of the Philippines, or NGCP.
00:42Consing explained that if there are more transmission grids,
00:46more power players will be interested in providing their supply of electricity.
00:52If more energy suppliers will invest to use the transmission grid of the NGCP,
01:00Consing said that the next step will be the price reduction in the consumption of electricity by consumers.
01:07Back then, the priority destination of the investment of the MIC was the energy sector
01:13because it has a great impact on the energy generation of the country.
01:18Welcome to the Department of Energy, or DOE,
01:21the entry of the Maharlika Investment Corporation to the National Grid Corporation of the Philippines.
01:27For some, the President Ferdinand R. Marcos, Jr. has already been accepted by Synergy Grid and Development Philippines Incorporated
01:34to get a 20% share through the MIC
01:38to ensure that the government of the Philippines has a hold on the National Grid.
01:42To Energy Secretary Rafael Lotilia,
01:45The entry of the government to the NGCP will ensure the protection of the supply,
01:50reliability, and affordability of the power service in the Philippines.
01:54It will ensure that the power service will be able to deliver more
01:57than the wider competition in the power sector.
