The Act established a National Energy Commission to regulate, manage, develop, and utilise energy resources (including hydro power, solar biomass, wind, geothermal and hydrocarbon) and control the granting of licences for transactions and operations related to electricity and natural gas.The Act established an Energy Fund. Among its objectives are:1) The promotion of energy efficiency and productive uses of electricity, natural gas and petroleum products; and2) Promotion of projects for the development and utilisation of renewable energy resources, including solar energy.
The Act was amended in 2016 to incorporate provisions on local content and local participation in the energy supply industry.
