Manila Standard Today
State-owned National Power Corp. has received another P1.6 billion from the proceeds of the Malampaya gas project in Palawan, easing its financial burden and allowing it to continue supplying electricity in remote or so-called missionary areas.
Napocor president Froilan Tampinco told reporters Thursday at the sidelines of an energy conference that the funds were part of the government’s reimbursement of Napocor’s advances for the maintenance of the mothballed Bataan Nuclear Power Plant.
“We got another shot in the arm, so to speak, from the national government. An additional P1.6 billion, so this is something we would utilize to tide us over up to the end of the year,” Tampinco said.
He said Napocor received P2 billion last year as reimbursement, which was also secured from the Malampaya proceeds. Alena Mae S. Flores
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