Philippine national power grid IPO can guard against China threat: senator

The China-backed National Grid Corporation of the Philippines should list its shares publicly to help guard against fears that Beijing could cause a nationwide blackout at the flick of a switch.That’s the view of Sherwin Gatchalian, chairperson of the Philippine Senate’s energy committee, who used a televised interview on Wednesday to remind the NGCP that under the franchise granted to the private firm by Congress in January 2009, it was required to sell 20 per cent of its equity in an initial…