SPPC’s payables to PSALM relative to the 1200MW Ilijan Power Plant
PSALM read news articles yesterday reporting that San Miguel Corporation’s South Premiere Power Corporation (SPPC) is seeking the approval of the Energy Regulatory Commission (ERC) for temporary price adjustment of its 2019 power supply agreement with Manila Electric Company allegedly due to staggering increases in fuel prices....
PSALM cuts financial obligations by P195-billion under Duterte administration
The Power Sector Assets and Liabilities Management Corp. (PSALM) has trimmed by more than a third its financial obligations as of June 30, 2022, the last day of President Rodrigo Duterte in office. Financial obligations amounted to P538 billion before President Duterte assumed office in June 2016, or a hefty reduction of P195.4 billion by the end of the Duterte administration. Its financial obligation is now estimated at PHP342.6 billion....
New PSALM President and CEO named
The Governing Board of the Power Sector Assets and Liabilities Management Corporation (PSALM) has elected Mr. Dennis Dela Serna as its President and Chief Executive Officer (CEO) following the release by Malacañang of his appointment as Acting President and CEO of the Corporation and Member, PSALM Board of Directors last 15 September 2022....