The Department of Energy would like to clarify that there was an error with our press release yesterday. In the release it was stated that "The IRC is initiated by the DOE to address the issue of alleged excessive overpricing…". Please note that the IRC is initiated by the DOE to address the issue of alleged excessive profits not overpricing, as we have said in our previous press release.

In addition, please note that Dr. Diokno is a Professor not Professor Emeritus at the UP School of Economics.

We deeply apologize for the miscommunication caused by this matter.