Richard Nethercott, the former president and chief executive of the Independent Electricity Market Operator of the Philippines (IEMOP), has joined billionaire Enrique Razon Jr.’s Primelectric Holdings Inc. as chief operations officer (COO) for the group.
IEMOP is the operator of the Wholesale Electricity Spot Market (WESM), the country’s electricity trading floor.
Primelectric Holdings, which serves as the holding company for Razon’s power distribution interests, said Nethercott’s extensive background in the energy sector would bring valuable expertise to the team.
Primelectric president and chief executive Roel Castro welcomed the executive, noting that Nethercott has “over five years of distinguished experience in overseeing the operations of the trading floor for Philippine electricity.”
Primelectric’s diverse portfolio includes the distribution utility MORE Power in Iloilo, Negros Power and Bohol Light. The group also manages MORE Power Barge and the retail aggregation program arm PrimeRES.
Nethercott’s career includes key roles in the energy industry, such as a previous tenure as a board director of the Philippine Electricity Market Corp. (PEMC). He has also dedicated time to academia as a professor at several universities.
