Napocor earns P811.4 M from one-day power sales

State-owned National Power Corp. (Napocor) reported yesterday a net income of P811.38 million from its one-day power sales (ODPS) scheme for 2000, an almost seven-fold increase from the P109.32 million registered in 1999.

"Given the higher-than-expected earnings we realized from the ODPS, we hope to reach a net income of P1 billion in the year 2001," ODPS project manager and head of Napocor’s operations planning and protection department Alberto C. Guanzon said.

He said such optimistic projection hinges on the expected accreditation this year of more ODPS bidders.

He said so-called "embedded customers" of private power distributors like the Manila Electric Co. (Meralco) and the Visayas Electric Cooperative are expected to be accredited this year under the ODPS scheme. These are customers who generate their own electricity but are operating within the franchise areas of the said distribution firms.

Guanzon said the increase in revenues could also be traced on the entry of 28 new bidders to the ODPS program last year, 21 of which came from the Meralco franchise area. This new accreditation brings to 39 the number of bidders that have participated in the ODPS since Napocor first launched the scheme in mid-1998.

"The higher sales may also be traced to the deterioration of the foreign exchange rate and the consequent increase in fuel prices, particularly during the fourth quarter of 2000," he said. "This dissuaded most of our customers from using their generators, and thus increased the demand for ODPS power," Guanzon said.

Under the ODPS, Napocor bids out its unutilized capacity to private electric utilities, cooperatives and industries with self-generating (self-gen) capabilities on a daily basis through an electronic, on-line bidding system. These customers should have a self-generation capacity of at least one megawatt to be able to join the daily bidding.