MANILA (UPDATE) - President Rodrigo Duterte has signed a law that will allow power companies to apply for permits and pay fees online, as he continued to move against red tape, according to a copy of the measure released by his office on Thursday.

The Energy Virtual One-Stop Shop Act, signed on March 8, seeks to streamline the processing of documentary requirements and fees of local government units and various government offices.

Duplications and redundancies in the documentary requirements will be removed and there will be unified forms, according to the measure.

There will also be time frames for each agency to act on applications. An initial amount of P100 million from the appropriations of Department of Energy will be used to implement the law.

Sen. Sherwin Gatchalian, head of the Senate Committee on Energy, lauded the passage of the law, calling it a success against red tape. On Facebook, he also said it would pave the way for cheaper electricity rates.

Meanwhile, Marinduque Rep. Lord Allan Velasco, chair of the House Committee on Energy, said the new law will reduce the cost of doing business in the country.

“This would encourage competition by attracting more power generation companies to invest in the country, and most importantly, this would translate to lower generation charges because of the reduced cost of doing business," he said.

• Duterte signs Ease of Doing Business Act
• Duterte signs into law measures extending passport validity to 10 years, driver's licenses to 5 years
• Duterte cracks down on red tape

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