Business World Online
Posted on 09:18 PM, January 09, 2011
THE NATIONAL Power Corp. (Napocor) narrowed its net loss to P701.5 million in 2010 from the net loss of P2.87 billion recorded in 2009, data from the Department of Budget and Management (DBM) showed.
TAMPINCO
Documents on the DBM Web site showed state-owned Napocor improved its operating revenues to P10.5 billion in 2010, up from P4.44 billion in the previous year.
Expenses reached an estimated P11.17 billion last year, up from the P7.31 billion incurred by the state power producer in 2009.
The increase was attributed to a 70% growth in maintenance and other operating expenses.
Maintenance expenses rose to P9.85 billion from P5.8 billion in 2009.
Napocor officials could not be reached for comment on the DBM figures.
The state firm maintains several small power facilities in off-grid areas through the Small Power Utilities Group.
There are currently 232 generating units with a capacity of around 175 megawatts (MW) operated in off-grid areas by Napocor.
Napocor President Froilan A. Tampinco earlier said the agency was awaiting the decision of the Energy Regulatory Commission on its motion for reconsideration seeking higher off-grid power subsidies to enhance operational efficiency.
Napocor also continues to manage the 246-MW Angat hydropower plant, the Agus and Pulangui power plant complex in Mindanao, and power barges 101, 102, 103 and 104.
Napocor is estimated to post a loss of P1.22 billion this year due to higher expenses, DBM data showed. -- E. N. J. David
Expenses reached an estimated P11.17 billion last year, up from the P7.31 billion incurred by the state power producer in 2009.
The increase was attributed to a 70% growth in maintenance and other operating expenses.
Maintenance expenses rose to P9.85 billion from P5.8 billion in 2009.
Napocor officials could not be reached for comment on the DBM figures.
The state firm maintains several small power facilities in off-grid areas through the Small Power Utilities Group.
There are currently 232 generating units with a capacity of around 175 megawatts (MW) operated in off-grid areas by Napocor.
Napocor President Froilan A. Tampinco earlier said the agency was awaiting the decision of the Energy Regulatory Commission on its motion for reconsideration seeking higher off-grid power subsidies to enhance operational efficiency.
Napocor also continues to manage the 246-MW Angat hydropower plant, the Agus and Pulangui power plant complex in Mindanao, and power barges 101, 102, 103 and 104.
Napocor is estimated to post a loss of P1.22 billion this year due to higher expenses, DBM data showed. -- E. N. J. David
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