NAPOCOR
Proper noun
Meaning
NAPOCOR
Acronym of National Power Corporation, the historical operator of the power grid of the Philippines.
Related terms
Examples
Now we must move heaven and earth to lower energy costs. We must complete the sale of NAPOCOR generating plants and PPA contracts to the private sector to generate more competition. Thus far, only about 40% have been privatized.
A 2006 decision of the court ordered Napocor to pay P62 billion in back wages to employees found to have been illegally retrenched in 2003 when the Electric Power Industry Reform Act (Epira) was implemented.
Meanwhile, new items have started to appear on the electric bill: the Napocor stranded debts, the Napocor stranded contract costs, the distribution utilities stranded contract costs, and the equalization taxes and royalties.
As a result, Napocor income statements revealed that it has paid P150 billion for purchased power in 1995-2002.
Tujan cited the fiasco surrounding the privatization of the Masinloc coal-fired power plant, which was marred by graft and corruption involving officials in charge of the privatization of state-owned National Power Corporation (Napocor).
A system loss is the amount of energy that is being taken by a distribution entity from NAPOCOR but is lost due to technical losses and non-technical losses generally pilferages.