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Manila Bulletin devider Business devider NPC may tap gov't subsidy for funding support—DBM

NPC may tap gov't subsidy for funding support—DBM

Published Oct 21, 2022 02:07 pm

State-run National Power Corp. (NPC) may tap its subsidy allotments from the national government to fund its operation requirements next year, the Department of Budget and Management (DBM) said.

Budget Secretary Amenah F. Pangandaman said Friday, Oct. 21, that the subsidy portion in the corporate operating budget of the NPC was raised by 33 percent from P3.8 billion to P5.07 billion in 2023.

On top of that, the 2023 national expenditure program (NEP) also authorized the NPC to use its prior years’ subsidy to fund its additional activities or projects, but subject to the DBM approval, Pangandaman said.

“The DBM has been in close coordination with the NPC to address concerns regarding funding allocation for various projects,” Pangandaman said after the state-owned firm warned of power outages in its “missionary areas” due to budget cuts.

NPC earlier said it suffered a P12.537 billion budget cut under the 2023 NEP, which is the proposed national budget for next year.

Pangandaman, however, clarified that NPC concerns will be addressed by the DBM.

“In fact, DBM and NPC held a meeting earlier this month to discuss possible solutions and ways moving forward,” the budget chief said.

Pangandaman added that the DBM approved the release of a special allotment release order and corresponding cash requirements amounting to P2.9 billion to cover the subsidy to New Power Providers/Qualified Third Party.

The DBM likewise issued P1.02 billion for the fuel requirements for Small Power Utilities Group (SPUG) power plants and barges, she added.

Earlier, Jenalyn Aurea Tinonas, NPC department manager for financial planning and budget said the government-owned firm submitted an original budget proposal of P44.749 billion for 2023, but the DBM slashed this by about 30 percent to P32.212 billion.

Tinonas said the budget reduction would affect about 278 diesel plants.

She added that the DBM recommended level would not be enough to cover NPC’s full-year operation requirements for SPUG plants and barges and its new power providers and qualified third-party subsidy requirements.

Related Tags

Department of Budget and Management DBM Budget Secretary Amenah F. Pangandaman
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