House panel threatens to withdraw NGCP franchise for failure to implement IPO 0 SHARES Share it! Share TweetBy Ben RosarioMembers of the House Committee on Energy threatened on Monday to withdraw the legislative franchise granted to the National Grid Corporation of the Philippines (NGCP) for its failure to implement the initial public offering (IPO) provided under the law. NGCP was among the parties scheduled to brief the energy committee on the subject but its president and some key officials failed to show up. “But it has delayed the implementation of the capital expenditures so required under the law, including investment to the national grid,” said Nograles. The NGCP has asked the Energy Regulatory Commission to grant an extension of the IPO prompting the National Transmission Corporation to petition an intervention.

Source: Manila Bulletin September 30, 2019 09:22 UTC