MIC backing NGCP accord

State-backed Maharlika Investment Corporation (MIC) will provide strong support, including a prospective recommendation to President Marcos, for a 25-year extension of the concession agreement for system operator National Grid Corporation of the Philippines (NGCP), allowing it to continue managing and operating the country’s power transmission network.

- By MYRNA M. VELASCO

In an exclusive interview, MIC President and CEO Rafael Jose D. Consing Jr. firmly stated that NGCP’s concession deal with the government “must be extended, otherwise, the unpaid and uncollected value of their investments are going to be charged to us at the end of the concession period; and that is going to be a very significant cost; and that’s when you see the amount of transmission charges significantly increase.”

When asked if MIC is willing to endorse a 25-year extension of the NGCP concession agreement to President Marcos, Consing stressed, “Definitely, the answer is a clear yes!”