The Department of Energy (DOE) expressed optimism that Congress will soon approve a bill seeking to create a regulatory framework for nuclear power despite limited time.

In a press briefing at Malacañang on Tuesday, DOE Secretary Raphael Lotilla noted that the House of Representatives had already approved the bill on its third and final reading, while the Senate is still deliberating the measure.

“We are optimistic that the Senate will be able to move it forward and therefore be able to come up with legislation during this Congress,” Lotilla said.

“We'll take it from there because we are strongest when both the executive and the legislature speak with one voice.”

Lotilla acknowledged that lawmakers have been making swift progress, holding committee hearings and continuing discussions on the issue.

He said it would be unlikely to provide a definitive answer regarding the benefits of adopting nuclear energy, particularly in reducing power costs. However, Lotilla pointed out that over the lifespan of a nuclear plant — which is generally longer than that of other types of power plants — the costs would be spread out over this extended period, ultimately making it more economical.

The DOE, he said, had earlier requested the Maharlika Investment Corp. (MIC) to investigate the financing aspects of nuclear power development.

“The financial analysis can be effectively undertaken by the Maharlika Investment Fund so that the government can gain a clearer understanding of financing costs and returns,” he said.

Under the Electric Power Industry Reform Act (EPIRA) or Republic Act No. 9136, only the private sector can participate in electricity generation.

Lotilla noted that the government “is open” to collaborating with private entities to introduce nuclear power into the country.

"It's not even the government. Then we will have to work with the private sector [to] bring in nuclear power," he said.