'S'pore arbitration victory a vindication for NGCP'

The decisive victory of National Grid Corp. of the Philippines (NGCP) in its Singapore arbitration case serves as a clear "vindication" of its compliance with its concession agreement, according to an executive.

- BRIX LELIS

"(It is a) vindication that we are just following the laws passed and the contracts presented by the government when it privatized the transmission sector and NGCP was granted the concession," NGCP spokesperson Cynthia Alabanza said.

This followed the Singapore International Arbitration Center's Arbitral Tribunal ruling in favor of NGCP for its 2018 case filed against Power Sector Assets and Liabilities Management Corp. and National Transmission Corp.

In its final award dated Feb. 19, the tribunal declared the validity of the prepayment made by the NGCP to the government in 2013.