The former President and Chief Executive Officer of the Independent Electricity Market Operator of the Philippines (IEMOP), Atty. Richard Nethercott, formally joined the conglomerate of billionaire Enrique Razon Jr., Primelectric Holdings, Inc.
Primelectric Holdings, the holding company for Razon’s power distribution interests, confirmed the appointment, confirmed that Atty. Nethercott will assume the role of Corporate Chief Operations Officer (COO) for the Group.
IEMOP is the crucial operator of the Wholesale Electricity Spot Market (WESM), the country’s electricity trading floor.
Primelectric is the operator of 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, saying: “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.”
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.
Atty. Nethercott said: “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.”
