NGCP Losing Money, Says Board Member

The National Grid Corp. of the Philippines (NGCP), the country's sole power transmission service provider, is facing financial challenges as it struggles to raise rates to cover higher salary costs and support its expansion programs, according to Francis Chua, a member of the NGCP board.

The Energy Regulatory Commission (ERC) has denied the NGCP's requests to raise rates, resulting in financial difficulties. I Photo: National Grid Corporation of the Philippines Facebook

During a forum at the Kamuning Bakery Café, Chua clarified that contrary to some reports, the power transmission company is experiencing financial losses. He emphasized that the Energy Regulatory Commission (ERC) has denied the NGCP's requests to raise rates, resulting in financial difficulties.

NGCP has had to increase worker salaries, and Chua advised against further hiring due to the inability to adjust rates to cover these costs and expansion programs.

NGCP is a joint venture with 40 percent ownership by Chinese investors and Filipino partners.

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