The state-run National Power Corp. is now negotiating with four banks for its P4-billion bridge financing for the Small Power Utilities Group.

Napocor president Froilan Tampinco said the four banks include the Landbank of the Philippines, the Development Bank of the Philippines, Philippine National Bank and ANZ Bank.

"We're negotiating the bridge financing this year and we're choosing on the proposal," Tampinco said.

Government urged to start
electricity market in Visayas

A ranking official of the Aboitiz group urges the government to start implementing the wholesale electricity spot market in the Visayas to address the looming power supply shortage there.

Luis Miguel Aboitiz, senior vice president of the Aboitiz Power Corp., said WESM implementation was needed with the expected coming in online of some plants next year.

"I’m hoping they start the WESM Visayas as soon as the first new unit comes online in the Visayas. The first unit will be around in March next year. WESM in the Visayas will help alleviate the power problem," Aboitiz said.

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