Senators on Wednesday, May 24 expressed their disappointment after officials of the National Grid Corporation of the Philippines (NGCP) confirmed earlier claims that most of its profits went to the pockets its stockholders. ManilaBulletin
This was bared by NGCP Assistant Corporate Secretary Ronald Dylan Concepcion during the Senate Committee on Energy hearing chaired by Sen. Rafael “Raffy” Tulfo.
Concepcion, however, said the firm’s revenues are capped since NGCP cannot “go beyond what the ERC prescribes.” But Tulfo was more surprised when officials said NGCP had P24-billion payouts to investors in 2014, when its declared income was only P22-billion. “I’d like to clarify and express our apologies for the delayed projects…we admit that there are indeed delayed projects,” Alabanza said, addressing the concerns of Sen. Sherwin Gatchalian through Senate Resolution No. 616.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
NGCP to lawmakers: Power grid safe from hackingThe country's grid operator on Wednesday assured lawmakers that the system has safeguards from possible disruption by external entities.
Read more »
Senators approve chalk allowance for public teachersWith a unanimous vote, the Senate on Monday passed on the third and final reading the so-called “chalk allowance” measure
Read more »
Ron DeSantis to announce 2024 presidential campaign Wednesday in conversation with Elon MuskFlorida Gov. Ron DeSantis will announce his bid for the 2024 Republican presidential nomination Wednesday night in a conversation with Twitter owner Elon Musk, a spokesperson for his political team tells CNN.
Read more »
Mawar may develop into supertyphoon – PagasaThe tropical cyclone spotted outside the Philippine area of responsibility has further strengthened and is likely to turn into a supertyphoon, the Pagasa said on Monday. | AbbyBoiserINQ /PDI
Read more »
Guanzon airs concern on Manila post office blaze: 'Baka may ipapatayong condominium'P3PWD Party-list nominee Rowena Guanzon is willing to lead a protest rally should the razing of the historic Manila Central Post Office building lead to the construction of a condominium on site. ManilaBulletin READ:
Read more »
‘Mawar’ now a super typhoon, may enter PH by Friday, says PAGASAThe weather disturbance outside the Philippine area of responsibility, with international name “Mawar,” intensified into a super typhoon on Tuesday,
Read more »