NGCP is Filipino, run by Filipinos—Henry Sy Jr.
By Manila Bulletin – Jan 24, 2025 07:45 AM
A National Grid Corporation of the Philippines (NGCP) top official maintained that the company is a Filipino corporation and run by Filipinos, allaying concerns about China role in the operation of the country’s power grid.
“The State Grid Corporation of China (SGCC) does not exercise control over the power grid nor over NGCP,” NGCP Vice Chairman Henry Sy Jr. told the House Committee on Legislative Franchises in his opening statement.
“Domestic corporations Monte Oro Grid Resources Corporation and Calaca High Power Corporation each hold thirty percent (30 percent), or a total of sixty percent (60 percent) of the outstanding capital stock of NGCP, whereas SGCC only holds a minority share of forty percent (40 percent),” he added, stressing that SGCC’s shareholding in NGCP is consistent with the Constitution.
On the matter of NGCP’ partnership with a Chinese firm, Sy clarified that SGCC was already on board and the shareholders agreement was already in place when he purchased his shares in 2010.
He also debunked reports that the Chinese can shut down the country’s power grid, stressing that “it is NGCP alone, through its Filipino directors and personnel, and not the Chinese, which has control over the System Operations.”
“The Chinese do not have control over the Grid,” he emphasized, adding “there is no proverbial single red button that can instantly turn off the Grid.”
There are protocols that actually prevent this, Sy stated.
On the matter of NGCP’ partnership with a Chinese firm, Sy clarified that SGCC was already on board and the shareholders agreement was already in place when he purchased his shares in 2010.
He also debunked reports that the Chinese can shut down the country’s power grid, stressing that “it is NGCP alone, through its Filipino directors and personnel, and not the Chinese, which has control over the System Operations.”
“The Chinese do not have control over the Grid,” he emphasized, adding “there is no proverbial single red button that can instantly turn off the Grid.”
There are protocols that actually prevent this, Sy stated.
