Napocor seeks consultant for revaluation of power assets

State-run National Power Corp. ( Napocor) is hiring a consulting firm to undertake the re- valuation of its assets, particularly the power barges and those under the Small Power Utilities Group (SPUG).

In a notice published in newspapers yesterday, Napocor said is seeking bids from consulting firms “for the assets valuation of SPUG plants and power barges (PB3).”

The state-run power firm has approved a budget of P15 million that will be taken out of its 2015 corporate budget.

Interested firms have until Nov. 9 to submit eligibility documents, which will be evaluated based on a non-discretionary “pass/fail” criterion.

Once consulting firms pass the eligibility round, Napocor’s Bids and Awards Committee will then draw up a shortlist of five prospective bidders entitled to submit proposals.

Napocor will utilize open competitive bidding procedures and will evaluate bids using the quality-cost based evaluation/ selection procedure.

The winning bidder will be given 300 calendar days to complete the asset revaluation.

The revaluation of power assets is required by regulators when a company applies for cost recoveries that are intended for pass-on to consumers.

Currently, Napocor has 290 SPUG power plants and 11 power barges.

Under the Electric Power Industry Reform Act (EPIRA) of 2001, the universal charge for missionary electrification ( UCME) is collected from end-users which will be used for the electrification of remote communities or areas not connected to the main transmission grid.