Philippine Napocor Expects 2.4% Growth In '05 Power Sales
Monday, January 24, 2005
MANILA (Dow Jones)--State utility National Power Corp. (NAP.YY), or Napocor, expects electricity sales this year to increase 2.4% to 37,630 gigawatt-hours, down from the 5% on-year growth seen in 2004.
In his yearend report to President Gloria Macapagal Arroyo, Napocor President and Chief Executive Rogelio Murga said the state utility plans to increase sales of electricity "through more aggressive marketing efforts, particularly direct connection" of large power consumers.
Murga said power generation this year is expected to rise 4.5% to 42,138 GWh after a 2.4% on-year expansion to 40,315 GWh in 2004.
Murga also said he remains hopeful that the Energy Regulatory Commission will eventually allow Napocor to implement in full its application to increase power rates by PHP1.87 per kilowatt-hour.
The ERC granted Napocor in September a provisional PHP0.98/kWh increase in power rates. The provisional rate increase may still be lowered or raised, depending on additional review of Napocor's application.
Napocor is banking on a further rate increase to help it return to the black.
posted by philpower @ 9:46 AM,
1 Comments:
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At 8:24 AM,
said...
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Madam Pres. Arroyo :
Fully implementing the NAPOCOR RATE INCREASE for MINDANAO will Kill the economy, more so with the increase for Luzon & Visayas.
The Napocor Rate Increase will bring the electricity
cost in the entire country as the World's MOST EXPENSIVE !
China's Rate of US$ 0.051 per KWH pales in comparison with Meralco's Rate of US$ 0.15 and DLPC'S US$ 0.09.