Napocor seeks reimbursement of cost to preserve Bataan nuclear plant

National Power Corp. is seeking government reimbursement from costs incurred to preserve the mothballed 620-megawatt Bataan Nuclear Power Plant (BNPP) to raise funding for its operations.

During a recent Senate hearing, NPC’s department manager for financial planning and Budget Jenalyn Aurea S. Tinonas said they have come up with several measures to address the company’s budget constraints.

She said NPC is also looking at getting immediate approval from the Energy Regulatory Commission for its pending applications, funding support from the government, and borrowings.

She warned that outages might occur in the missionary areas covered by NPC’s Small Power Utilities Groups (SPUG) next year because the company lacked the budget to pay for fuel and its power suppliers.

Tinonas said about 278 existing diesel plants may be forced to shut down in the wake of its P12.537 billion budget cut.

NPC submitted an original budget proposal of P44.749 billion for 2023, but the Department of Budget and Management (DBM) cut it by nearly 30 percent.

Tinonas said DBM’s recommended budget level of P32.212 billion would not be enough to cover NPC’s requirements for SPUG plants and barges, as well as its new power providers and qualified third party (NPP-QTP) subsidy requirements.

Opec+ likely to maintain oil output levels

Major oil-producing countries led by Saudi Arabia and Russia look set to maintain their current output levels at a meeting Sunday, ahead of fresh sanctions against Moscow coming into force.