Ex-IEMOP chief joins Primelectric as COO

Atty. Richard Nethercott, the former President and Chief Executive Officer of the Independent Electricity Market Operator of the Philippines, has joined billionaire Enrique Razon Jr.’s Primelectric Holdings Inc.

IEMOP is the crucial operator of the Wholesale Electricity Spot Market, the country’s electricity trading floor.

Primeelectric Holdings, the holding company for Razon’s power distribution interests, confirmed the appointment, stating that Atty. Nethercott will assume the role of Corporate Chief Operations Officer (COO) for the Group.

Primeelectric’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.

Primeelectric President and CEO Roel Castro officially welcomed the executive and highlighted 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 includes key roles in the energy industry, including a previous tenure as a Board Director of the Philippine Electricity Market Corporation.

Beyond corporate and government service, he has also dedicated time to academia as a professor at several universities.

“We are honored and proud to have Atty. Richard Nethercott as our Corporate COO, strengthening our commitment to excellence and innovation in the energy sector,” Castro added.

“It is an honor to join Primeelectric with the hope of being able to positively contribute to the company’s mission of providing the best quality service consumers deserve,” Nethercott said.

His appointment signals Primeelectric’s intent to leverage high-level industry and regulatory expertise as it expands operations and influence within the Philippine power distribution landscape.