May 14, 2012. The privatization of the Agus and Pulangi hydroelectric power plants as part of efforts to solve the power shortage in Mindanao is still in the cards despite opposition from several groups and restrictions under law, President Aquino said. Aquino has said that auctioning off the plants will allow the entry of private investors who have the money to rehabilitate them and expand Mindanao's generating capacity. But groups are opposing it, saying it would lead to an increase in power rates as the investors will have to recover their costs. The government, meanwhile, has been flip-flopping on the matter due to restrictions under the Electric Power Industry Reform Act (Epira). Under Epira, a private company cannot own 30% of an area's power generation sector. Agus and Pulangi together supply 52% of Mindanao's energy needs. Aquino said the plants may be sold to not just one, but several investors to comply with Epira.