BACOLOD CITY, Aug. 2 -- The Negros Electric and Power Corp. (Negros Power) here welcomed the pronouncement of President Ferdinand R. Marcos Jr. on reduced electricity rates, particularly the push to remove or zero out system loss charges.

"Negros Power fully supports the President's vision of delivering lower electricity rates while ensuring that the implementation of the policy remains consistent with existing laws and regulatory requirements," company spokesperson Leomel Tambanillo said in a statement Sunday.

In his fifth State of the Nation Address on July 27, the President urged Congress to immediately amend the Electric Power Industry Reform Act (EPIRA) of 2001 to bring down the price of electricity in the country.

Under the EPIRA...