By Alexandria Grace C. Magno, ReporterMARKET ANALYSTS said investors will be looking for clarity on the administration’s proposed reforms and implementation plans following President Ferdinand R. Marcos, Jr.’s State of the Nation Address (SONA), particularly across the energy, infrastructure, and capital market sectors. He said distribution utilities, power generation companies, and investors would be seeking clarity on how system loss charges would be treated, whether the reforms would distinguish between technical and non-technical losses, and how utilities would continue recovering legitimate operating costs. However, it urged lawmakers to consider the impact of removing system loss charges, saying such losses are “inherent” in operating an electric distribution system. System loss charges form part of the generation and transmission costs paid to power producers and the grid operator. Under EPIRA and implementing guidelines issued in 2017, private distribution utilities may recover system loss charges of up to 5.5%, while electric cooperatives may recover up to 8.25%.