NAPOCORNational Power Corporation (Philippines)
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'These projects will secure a more reliable and resilient transmission system to the provinces we serve,', Pio Benavidez, Napocor president and chief executive, said in a statement.
"Nagpapasalamat ako kay Pangulong Rodrigo Duterte dahil sa wakas ay matutuldukan na rin ang paghihirap ng bawat power consumer sa pagpasan ng utang ng Napocor (I thank President Rodrigo Duterte for finally putting an end to the burden of every power consumer in paying off Napocor's debts)," he added.
SCC refers to the excess of Napocor's contracted cost of electricity with independent power producers over the actual selling price of the output.
"If the supposed Murang Kuryente bill is implemented it is like condoning the incompetence of Napocor and PSALM as well as betraying the interest of consumers," he said.
Gatchalian griped that consumers have long been made to share the burden of paying the Napocor's debts through the universal charge for stranded debts and stranded contract costs paid in the monthly electricity bill.
7 May 2010 - The Philippines state-run National Power Corp (Napocor) has launched talks with Landbank of the Philippines to arrange its planned bond issue, slated for this month, president Froilan Tampinco said Friday.
Daniel Lucero said they suspect the Moro Islamic Liberation Front (MILF) sabotaged the Napocor transmission line in Lanao del Norte Province after the military captured a major rebel camp in central Mindanao two weeks ago.
"No private company will dare buy NAPOCOR unless the interconnection is realized," predicts Rey Enales, secretary-general of the local chapter of the Freedom from Debt Coalition (FDC).
Napocor's properties in Metro Manila alone are worth billions of dollars.
Cusi said Napocor should instead find ways to reduce missionary subsidies by improving operational efficiency.
Contrary to the claim of the civil society group, Gatchalian maintained that using the Malampaya fund to pay off the stranded contract costs and stranded debt of Napocor is substantial enough to lower power costs than using it in expanding the coverage and increasing subsidies for households which use small amounts of electricity through the lifeline rates.