The Maharlika Investment Corporation (MIC) intends to invest in the National Grid Corporation of the Philippines (NGCP) to lower energy costs in addition to stabilizing the grid.
In a report by the Manila Bulletin, MIC Chief Executive Officer Rafael Consing Jr. has expressed support for House Speaker Martin Romualdez’s proposal for MIC to make investments in the NGCP. This proposal comes in response to the power outages experienced in Panay Island.
Consing Jr. added that this would be beneficial for the energy sector as MIC would partner with the grid operator to manage the country’s energy challenges.
Additionally, the corporation could support its development expertise to expedite infrastructures as well as improve grid efficiency. Aside from lowering costs, it could also cultivate public and private partnerships within the energy sector.
However, Consing Jr. cautioned that transparency should be advocated, and thorough evaluation should be done to guarantee the maximum utilization of the funds aimed at advancing the country.
