NGCP’s P300-B capex: Where did it go?

By Philstar.com – June 21, 2023 | 4:56pm

A March 15, 2020 photo of the Sta. Rita Substation as the National Grid Corp. of the Philippines energizes to cater to the Samar II Electric Cooperative for power transmission in Samar.

MANILA, Philippines — The National Grid Corporation of the Philippines (NGCP) has spent P300 billion since its privatization 15 years ago to upgrade the country’s transmission lines and ensure enough power supply.

That hefty capital expenditure led to the completion of 3,729 circuit-kilometers new transmission lines from 2009 to 2022, data from NGCP showed.

The grid operator also installed 28 substation with a combined capacity of 31,190 MVA.

At the same time, the NGCP has invested in the installations of 4,091 MVAR capacitor and reactor since the private sector took over the grid system from the government.

Before its privatization, data from NGCP showed total capex from 2003 to 2008 amounted to P33 billion.

According to NGCP, its investments from 2009 to 2022 allowed it to increase substation capacity by 11,932%.

Transmission lines likewise increased by 174.8%.

Officials of NGCP recently faced senators following an inquiry into blackouts during the dry season.

While it admitted there had been delays in some of its projects, the NGCP said its investments have resulted in lower transmission costs for consumers compared to when the grid operator was still under state control.