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NGCP Wins Singapore Arbitration Case vs PSALM, TransCo
The Philippine Star
|February 25, 2025
The National Grid Corp. of the Philippines (NGCP) has won its arbitration case against state-run Power Sector Assets and Liabilities Management Corp. (PSALM) and the National Transmission Corp. (TransCo).
Synergy Grid and Development Philippines Inc. (SGP), the listed company behind NGCP, said the Singapore International Arbitration Centre (SIAC)'s Arbitral Tribunal rendered a final award in favor of NGCP on several issues.
On the main issue, the Arbitral Tribunal declared that the transmission operator's P57.88-billion prepayment made in 2013 was valid.
The tribunal rejected PSALM and TransCo's claims that NGCP violated the nationality restrictions applicable to public utilities under Philippine laws, including the Anti-Dummy Law.
In 2018, the NGCP filed with SIAC an arbitration case seeking a declaration of the prepayment's validity and the payment of other monetary claims as the state-run firms claimed that the grid operator was in concessionaire default.
Dit verhaal komt uit de February 25, 2025-editie van The Philippine Star.
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