Published May 19, 2021, 3:54 PM
Private transmission firm National Grid Corporation of the Philippines (NGCP) is ‘on track’ with its planned US$1.0 billion initial public offering (IPO) and is targeted to be concluded in six months, based on a mandate from the power industry regulator.
“Right now, we’re on track with our planned activities and in accordance with the ruling that was handed by the ERC (Energy Regulatory Commission). We will comply and we will be giving them monthly updates and we are mindful of the six-month deadline,” NGCP Spokesperson Atty. Cynthia P. Alabanza told reporters in a virtual briefing.
She added “it’s something that we’ve been working on pre-pandemic, so this is not something that we started when we got the ERC order… this is something that we’ve been preparing for because it is part of our franchise and it’s an obligation – that is clear to us.”
Noceco power rate down in May sunstar.com.ph - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from sunstar.com.ph Daily Mail and Mail on Sunday newspapers.
DOE Secretary Alfonso Cusi (Photo from DOE Facebook page)
This, as Cusi acknowledged the “damage” caused to 348 vials of Coronavac–the vaccine manufactured by China’s Sinovac Biotech Ltd.–by a power outage in Makilala town, North Cotabato and the subsequent boo-boo of municipal workers there.
“I urge the diligence of everyone concerned so that this incident will not happen again. We cannot afford negligence or even a simple overlook to derail and affect the government’s vaccination drive,” he said in a statement over the weekend.
The DOE chief said that as per the report of Cotabato Electric Cooperative (Cotelco), a power outage occurred in Makilala at around 1:30 p.m. on Friday, May 7 that lasted for one hour and 30 minutes.
Bidding for 20-MW Ceneco requirement pushes through visayandailystar.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from visayandailystar.com Daily Mail and Mail on Sunday newspapers.
Fort Pilar Energy beats AC Energy for Malaya plant on May 7, 2021 at 5:59 pm
Fort Pilar Energy Corporation outbid Ayala-led AC Energy for the ownership of the 650-megawatt (MW) Malaya Thermal Power Plant (MTPP) in Pililla, Rizal.
Government-run Power Sector Assets and Liabilities Management Corporation (PSALM) declared Fort Pilar Energy as the winning negotiating party, as it submitted the higher bid amounting to Php3.12 billion. On the other hand, AC Energy’s bid was worth Php2.22 billion. Both bids were above the Minimum Offer Price of Php1,845,222,000.
“After several attempts to privatize MTPP the last two years, we are very happy to have finally received financial bids substantially above our Minimum Offer Price. We are glad that this culminated in a successful privatization,” PSALM President and Chief Executive Officer Irene Besido-Garcia said in a statement.