In electric power: any unpaid financial obligations of NPC which have not been liquidated by the proceeds from the sales and privatization of NPC assets [Section 4(vv), Electric Power Industry Reform Act of 2001]
In electric power: any unpaid financial obligations of NPC which have not been liquidated by the proceeds from the sales and Privatization of NPC assets: Provided, however, That such obligations include any of such obligations refinanced by PSALM: Provided, further, That such refinancing of such unpaid obligations shall not result in increasing the Universal Charge burden [Section 4 (hhhh), Rules and Regulations to Implement Republic Act No. 9136, Entitled “Electric Power Industry Reform Act of 2001”]
Note: The EPIRA IRR adopts the definition under the law, except for an adjustment to the writing style (creation of defined term, “Privatization”) and the addition of “Provided, however, That such obligations include any of such obligations refinanced by PSALM: Provided, further, That such refinancing of such unpaid obligations shall not result in increasing the Universal Charge burden”. Moreover, under the IRR, the term is alternatively referred to as “Stranded Debts”.
In electric power, upstream oil & gas: any unpaid financial obligations of the NPC which have not been liquidated by the proceeds from the sales and privatization of NPC assets [Section 3(h), Murang Kuryente Act of 2019]
In electric power, upstream oil & gas: any unpaid financial obligations of the NPC transferred to and assumed by the PSALM which have not been liquidated by the proceeds from the sales and privatization of NPC assets [Section 4.11, DOE-DOF Joint Circular No. 1, Series of 2020, The Implementing Rules and Regulations of Republic Act No. 11371, ‘An Act Reducing Electricity Rates An Act Reducing Electricity Rates by Allocating a Portion of the Net National Government Share from the Malampaya Natural Gas Project for the Payment of the Stranded Contract Costs and Stranded Debts’ Otherwise Known as the ‘Murang Kuryente Act’]
Note: Under the Murang Kuryente Act of 2019, the term is written as “Stranded debts of the NPV”. Under its IRR, the term is written as “Stranded debts” only; the IRR also adds the description “transferred to and assumed by the PSALM” to the definition.