National Grid Corp. of the Philippines (NGCP) has emphasized its commitment to the public, assuring that financial considerations are not of paramount importance for the transmission company.
Bilyonaryo Henry “Big Boy” Sy, Jr., the majority shareholder of NGCP, said that their priority has always been to do what is best for the public, and financial matters can be addressed later.
Sy sought to address the perception that consumers may be disadvantaged by the computation of rates, emphasizing that NGCP’s commitment to serving the public remains unwavering. The company operates within the legal and regulatory framework of its concession and franchise.
Amid calls to revoke NGCP’s franchise, the company recently energized the Hermosa-San Jose 500-kilovolt (kV) transmission line, valued at P10.2 billion. The project received provisional approval from the Energy Regulatory Commission (ERC).
However, NGCP clarified that the ERC has only allowed partial recovery of less than 1% of the actual project cost, amounting to P19 million. Despite this, NGCP proceeded with the implementation of the HSJ project to address the urgent need for widening the transmission highway along the Bataan corridor, deferring the recovery approvals issue from the ERC to a later stage.
The HSJ project is a crucial component of NGCP’s planned Luzon 500kV transmission backbone. Spanning Bulacan, Pampanga, and Bataan provinces, the project aims to strengthen transmission services and accommodate new bulk power generation from the Bataan area.
NGCP’s teams worked tirelessly around the clock to complete the facility, which will enhance transmission reliability from generation sources to the load center of Metro Manila and nearby provinces.