When it comes to National Grid Corp. of the Philippines (NGCP), there is a plethora of negative news circulating about the company.
However, those spreading the negative news about the power grid operator fail to highlight the firm’s achievements since it became privatized in 2009.
Due to the lack of inquiries regarding NGCP’s side of the story, Biz Buzz took it upon themselves to request data on the company’s performance over the past 15 years.
One of the most notable achievements is the significant decrease in transmission outages for power consumers in all regions of the country since the 2000s.
Prior to NGCP, Luzon experienced 6.47 outages for every 100 circuit kilometers of transmission lines, whereas now the number has dropped to 1.33 outages.
In the Visayas, the number of outages per 100 kilometers of transmission lines has improved from 6.65 to 0.95 under NGCP management.
In Mindanao, the improvement is even more remarkable, with outages dropping from 8.07 under government operation to 1.32 under NGCP.
All major metrics have shown significant improvements since NGCP took over the power grid’s operations, including reduced power interruptions, increased transmission system availability, and more stable transmission frequency and voltage.
The company has invested over P300 billion in grid improvements, representing an 800% increase compared to the government’s management.
These empirical data are compelling and undeniable. Yet NGCP continues to face challenges with regulators and lawmakers, leading some to question whether the problem lies with the company itself or with a conglomerate that lost significant revenue after the termination of their expensive ancillary service contracts.
—Daxim L. Lucas
IKEA’s Struggle with Online Scams
The local branch of Swedish retail chain IKEA is still grappling with fraudulent online transactions that are scamming its Filipino customers.
An insider revealed that IKEA Philippines has sought assistance from the Department of Trade and Industry and the Philippine National Police to address this issue.
The company plans to hold a media briefing in the near future to raise awareness about these scams and educate the public on how to avoid falling victim to them.
In March, IKEA held a press conference where it disclosed the existence of 64 websites or sellers falsely claiming to represent the company. The number of complaints from local customers regarding these fraudsters has reached over 700.
Although individual transactions in these scams typically range from P2,000 to P3,000, the accumulated losses for IKEA Philippines amount to around P1.4 million.
Leontina Bucur, IKEA Philippines’ country sales manager, reminded customers that the company’s official website, ikea.ph, is the only legitimate point of sale and cautioned against making purchases from other online platforms.
—Alden M. Monzon INQ
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Omprakash Tiwary is a business writer who delves into the intricacies of the corporate world. With a focus on finance and economic landscape. He offers readers valuable insights into market trends, entrepreneurship, and economic developments.
Denial of responsibility! Samachar Central is an automatic aggregator of Global media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, and all materials to their authors. For any complaint, please reach us at – [email protected]. We will take necessary action within 24 hours.