The Philippines government hopes to proceed with the sale of the National Power Corporation (NPC), the country’s state-owned utility, early next year. Privatisation plans should be completed by the end of this year, according to government sources.

Disposal of NPC is part of a programme to restructure the power sector. A power sector reform bill was adopted in June after a seven-year debate but the government has still to decide the implementing framework. This too, is due to be completed by the end of the year according to the country’s finance secretary.

The privatisation of NPC is expected to raise around $2.5 billion for the government. A number of companies have shown interest in the sale, the government claimed, including National Grid, Electricité de France, Kyushu Corp and the Energy Power Development Corp of Japan.