State-run National Power Corp. and off-grid energy player DMCI Power Corp. are in talks to resolve the P1.2-billion to P1.3-billion fuel debt of the government as of-end November.
DPC chairman Isidro Consunji said Napocor’s fuel debt soared to P1.2 billion due to high diesel costs which trebled this year. DPC said it did not curtail power supply despite the unpaid debt.
“We have not been paid. Around P1.3 billion [was] overdue for three plants” Masbate, Mindoro and Palawan. That’s four and a half months overdue,” Consunji said.
He said Energy Secretary Raphael Lotilla received an approval to allow Napocor to borrow, “but [with] more than borrowing you have to approve the universal charge.”
“There are a lot of off-grid companies who are complaining,” Consunji said.