The anomalous operational contract in the wholesale electricity spot market (WESM) has enabled a supposed P7,000 start-up company in turning electric consumers as its “virtual milking cow,” PBA Part-list Rep. Jericho “Koko” Nograles said.
Nograles, senior vice chair of the House committee on energy, said since IEMOP took over the operational control of WESM after forging an agreement with state-run Philippine Electricity Market Corporation (PEMC), consumers became the cash cow of the private firm “consumers by allocating scandalous salaries and other perks for themselves.”
For example, Nograles said IEMOP has “allotted an unlimited fuel allowance” for its president, Richard J. Nethercott.
“The President, the Speaker and the Senate President does not have unlimited gasoline,” Nograles explained.
“The Speaker for example only has a gas allocation of 200 liters per year while Nethercott has an unlimited supply of fuel. I will not be surprised if he or any of his relatives now owns a taxi or TNVS fleet,” he added.
In terms of salaries perks, Nograles said Nethercott gets more perks than the President Rodrigo Duterte, House Speaker Alan Peter Cayetano and Senate President Vicente Sotto III, adding that he will further elaborate the details in the coming days.
Nograles earlier got irked once after receiving legal documents which clearly shows “IEMOP is now earning at least P3 million to P4 million a day or about P1.2 billion annually.”
Based on the latest submission made by IEMOP’s Nethercott last February 14, there have been at least “P388-million worth of electricity collections” used to finance the monthly wages of their manpower pool, considering that the private firm only have 160 employees, according to the Davao-based slon
“Ibig sabihin sa 160 employees, lagpas P2 million per year ang mga natatanggap ng mga empleyado on the average,” said Nograles.
Nograles said he was further shocked upon learning that out of IEMOP 160 employees, 40 of them are supervisors, 82 are assistant managers while only two are rank and file employees.
Nueva Ecjia Rep. Rosanna “Ria” Vergara last February 6 hearing called out Nethercott for possible conflict of interest and possible violation of the Anti-Graft and Corrupt Practices Act due to nepotism.
Nethercott in that said inquiry admitted that he is married to Energy Assistant Secretary Caron Lascano.
Nograles earlier also urged the the Department of Energy to invalidate the IEMOP-PEMC deal for allegedly being “invalid from the very beginning.
PEMC’s transition from being a Government Owned and Controlled Corporation (GOCC) to a fully privatized company which would have allowed the transfer of its assets to IEMOP “was not proper and not legally-binding because this was not approved by President Rodrigo Duterte,” according to Nograles.
Meanwhile, Nograles also confirmed the existence of a supposed “P3.5-million car plan convertible into cash perks” every five years for its top executives of IEMOP since bagging the operational contract of WESM from the PEMC in 2018.