ERC: NGCP audit out by year’s end
Dimalanta noted that once the NGCP’s financial evaluation is done, that’s the only time that they can proceed with the technical review
Daily TribuneDimalanta noted that once the NGCP’s financial evaluation is done, that’s the only time that they can proceed with the technical review
The Energy Regulatory Commission, or ERC, is targeting to complete by year's end the full compressive audit of the National Grid Corporation of the Philippines or NGCP, the country's lone transmission operator, as instructed by President Ferdinand R. Marcos Jr. during his second State of the Nation Address or SoNA.
ERC chairperson Monalisa Dimalanta said the power watchdog is working closely with the Department of Energy to hasten the audit process, which covers reassessing the financial, technical, organizational, and management aspects of NGCP's operations.
"We are co-leading the audit with the DoE. We need to complete this soon because of the deadline set by the President. It should be (complete) by the end of the year; that's the target," Dimalanta told reporters at the sidelines of a three-day energy forum last week.
"The financial audit, that's what we have been doing. So hopefully, if DoE says it's done, then both DoE and ERC will determine if the financial audit is complete," she explained.
However, Dimalanta noted that once the NGCP's financial evaluation is done, that's the only time they can proceed with the technical review. "There's also other aspects like organizational and management that need to be reviewed as well. We haven't reviewed that yet," she added.
To recall, Marcos reprimanded the NGCP during his second State on the Nation Address in July for the delay of numerous projects that could have further improved the power services in the country.
"We are conducting a performance review of our private concessionaire, the NGCP," Marcos said.
Thus, he vowed to look into the NGCP to ensure that "all of its deliverables," starting with the Mindanao-Visayas Interconnection Project or MVIP and the Cebu-Negros-Panay Interconnection will be delivered.
NGCP is undertaking the P52-billion MVIP, which was supposed to launch within the year's first half. The MVIP will link together all three major Philippine islands to create one grid.
The ERC authorized the NGCP to start building the project in 2017. It was initially scheduled to be completed in 2020 but was delayed due to the pandemic.
The NGCP holds a 25-year franchise to solely operate the power transmission assets of the government and secure power reserves for contingency.
