Napocor earns P133 M from spot sales

The National Power Corp. (Napocor), the country’s largest power producer, reported yesterday an income of P132.8 million from its one-day power sales (ODPS) scheme in the first two months this year, 56 percent higher than the P85.1 million recorded in the same period in 1999.

ODPS project manager and Napocor head for operations planning and protection department Alberto Guanzon attributed the increase to the entry of new bidders, namely Globe Paper Industries, Goodyear Tires and Noa’s Arc Inc.

Under the scheme, Napocor sells its unutilized capacity through an electronic, on-line bidding system. Introduced in June 1998 to shore up Napocor’s sagging finances, the ODPS scheme has generated revenues in excess of P1 billion and has attracted the participation of 40 companies.

Other companies applying to join the ODPS are Colgate-Palmolive Phils., Panay Power Corp. and Clark Power Corp.