In a significant move within the Philippine energy sector, Richard Nethercott, the former President and Chief Executive Officer of the Independent Electricity Market Operator of the Philippines (IEMOP), has joined the conglomerate of billionaire Enrique Razon Jr., Primelectric Holdings, Inc.
IEMOP is the crucial operator of the Wholesale Electricity Spot Market (WESM), the country’s electricity trading floor, a press release from Negros Electric and Power Cpt. Said Sunday, Oct. 5.
Primelectric Holdings, the holding company for Razon’s power distribution interests, confirmed the appointment, stating that Nethercott will assume the role of Corporate Chief Operations Officer (COO) for the Group.
Primelectric’s diverse portfolio includes distribution utility MORE Power in Iloilo, Negros Power, and Bohol Light. The Group also manages MORE Power Barge and the retail aggregation program arm PrimeRES.
Primelectric President and CEO Roel Castro officially welcomed the executive, highlighting his extensive background.
“With over five years of distinguished experience in overseeing the operations of the trading floor for Philippine electricity, Atty. Nethercott brings valuable expertise and leadership to our team,” Castro said.
Nethercott’s career is marked by key roles in the energy industry, including a previous tenure as a Board Director of the Philippine Electricity Market Corporation (PEMC). Beyond his corporate and government service, he has also dedicated time to academia, shaping future legal minds as a professor at several universities, the press release said.
“We are honored and proud to have Richard Nethercott as our Corporate COO, strengthening our commitment to excellence and innovation in the energy sector,” Castro added.
Expressing his enthusiasm for the new challenge, . Nethercott emphasized the company’s mission, “It is an honor to join Primelectric with the hope of being able to positively contribute to the company’s mission of providing the best quality service consumers deserve.”
His appointment signals Primelectric’s strong intent to leverage high-level industry and regulatory expertise as it expands its operations and influence within the Philippine power distribution landscape.*PR