The consortium of Monte Oro Grid Resources Corp., led by businessman Enrique Razon, comprising the State Grid Corporation of China, and Calaca High Power Corp., won in an auction conducted by the Power Sector Assets and Liabilities Management (PSALM) Corp. as it submitted the highest offer of $3.95 billion, for the right to operate TransCo for 25 years, outbidding San Miguel Energy, a unit of San Miguel Corporation (bid of $3.905 billion), Dutch firm TPG Aurora BV, and Malaysia's TNB Prai Sdn Bhd.

[7][8] Congress approved bicameral resolution granting franchise to NGCP to manage and operate its transmission facilities nationwide in November 2008.

On December 1, 2008, Gloria Macapagal Arroyo signed the RA 9511 which gives it the franchise to operate, maintain, and expand the transmission facilities of TransCo.

On January 15, 2009, NGCP took over the operations, maintenance, management, expansion, construction, and eminent domain of the national transmission system from TransCo and its related assets and facilities which officially started the former to operate, maintain, manage, expand, construct, and acquire and designate lands for the transmission structures and rights-of-way (ROWs) for the power lines or their particular segments, with Walter A.

DOE issued its first Transmission Development Plan as power grid operator which is the 2009 TDP that would provide a guide for NGCP in improving the reliability of the electricity backbone on April 22, 2016.

Executive Secretary Salvador Medialdea pointed out that, if indeed NGCP had violated the terms of its contract by profiting unduly from the operations of the power grid such as allowing telecommunications firms to mount their fiber optic cables on the transmission towers.

[12] On June 8, 2018, the Department of Information and Communications Technology (DICT), NGCP, and TransCo signed an agreement on Friday for a national broadband plan that will help accelerate internet connectivity nationwide.

Under the agreement, the DICT will utilize TransCo's reserved optical fiber to distribute connectivity from Luzon to Mindanao using the submarine cables that will be laid down by Facebook from the United States to Asia.

The agreement plans to expand the internet connectivity in public places for free by building an additional 200,000 access points nationwide by 2022, DICT Officer-In-Charge Eliseo Rio said.

[14] Due to the turnover of power grid operations, maintenance, and expansion from National Transmission Corporation (TransCo) to NGCP on January 15, 2009, only four lands and structures, and two ROWs for the lattice towers were acquired and designated, and under the original TransCo plan and component of the relocation project that are currently in use (towers 255, 256, 266, and 267 (with the last two are using National Power Corporation (NAPOCOR/NPC)-era and original TransCo designation towers 264 and 265)) as stated on the fieldwork report of Hermosa-Balintawak Transmission Line Relocation as part of their permission granted from NLEX Corporation, and San Simon, Apalit, Calumpit, and Pulilan local government units (LGUs) to run parallel with San Simon-Pulilan section of North Luzon Expressway (NLEX).

Along the poles of the relocation project, four of them were placed at the southbound side of avenue before North Luzon Expressway (NLEX) San Fernando Exit due to Laus Group of Companies Chairman Levy Laus opposed to place the steel poles within the property of his automotive business as they carry 230,000 volts of electricity and their relocation closer to their business offices and residences will pose a threat to the health and safety of employees, customers, visitors and others who stay around the area on a daily basis.

In January 2024, the Mindanao-Visayas Interconnection Project (MVIP) completed and became fully operational which finally uniting the Philippine power grid.

It is the first time in the history of our nation that the three major power grids, those of: Luzon, Visayas, and Mindanao—are now physically connected,” said Marcos in his speech.

According to the NGCP, efforts to establish this connection began in the 1980s when the government-owned National Power Corporation (NAPOCOR/NPC) still operated, maintained, owned, and expanded the grid but were abandoned due to difficulties.

However, there are right-of-way issues which delayed the full completion of the project as the July 2023 TRO was lifted through SC Resolution dated February 28, 2024, promulgated on April 8, 2024.

The restraining order stopped for 9 months construction along Towers 170-178 of the line's Marilao-Hermosa segment, affected by the expropriation case of Century Properties' PHirst Park Homes.

[22][23][24][25] On April 8, 2024, Marcos Jr. inaugurated the 230 kV Cebu-Negros-Panay Backbone project with its simultaneous ceremonial energization at the NGCP Bacolod Substation in Negros Occidental.

The layout of the submarine cable, that will link Argao and Maribojoc, stands out nearly 100 percent completed, with NGCP currently finalizing the road wayleave acquisition and the expropriation proceedings of the project, and out of the 74 overhead transmission (OHT) towers that will span the remaining 18 kilometers to the Corella SS, 28 have been already constructed.

[31][32] Unlike outright sale, the concession agreement allowed the Philippine government to keep ownership of the transmission assets through TransCo, in accordance with Section 8 of Electric Power Industry Reform Act (EPIRA) or Republic Act 9136 which states that no person, company, or entity other than TransCo who shall own any transmission assets and facilities.

Various fonts or typefaces have been used on structure numbers and codes, such as Arial (Light and Bold variants) and ITC Avant Garde (same also with NGCP's predecessors in Philippine power grid operations, maintenance, expansion, and management and its related assets and facilities National Power Corporation (NAPOCOR/NPC) from November 1936 to March 1, 2003, and National Transmission Corporation (TransCo) from March 1, 2003, to January 15, 2009).

Sometimes when reusing on other uses, the removed facilities or structures will then change design to fit with their current use, with their bottom part still have the original number and ownership.