RE UPDATES ON REPLENISHMENT OF FUNDS
FOR SETTLEMENT OF DAMA CLAIMS
09 June 2022
As of this date, the Power Sector Assets and Liabilities Management Corporation (PSALM has already remitted a total amount of Four Billion Four Hundred Forty-Five Million Eight Hundred Eighty-Two Thousand Nine Hundred Ninety Pesos and 10/100 (PHP 4,445,882,990.10) to the National Power Corporation (NPC) for the settlement of the NPC-Drivers and Mechanics Association (DAMA) claims. The funding for the payment of any additional claims is readily available and may be remitted by PSALM to NPC once... Read More
Guidelines on the Implementation of Special Provision 11 Under Budgetary Support to Government Corporation (BSGC)-Others of Republic Act No. 11518 or the General Appropriation Act for FY 2021
WHEREAS, Section 50 of Republic Act (RA) No. 9136 or the Electric Power Industry Reform Act of 2001 (EPIRA) provides that the principal purpose of the Power Sector Assets and Liabilities Management Corporation (PSALM) is to manage the orderly sale, disposition, and privatization of the National Power Corporation (NPC) generation assets, real estate and other disposable assets, and independent power producer (IPP) contracts with the objective of liquidating all of NPC’s financial obligations and stranded contract costs (SCC) in an optimal... Read more
NOTICE TO ALL STAKEHOLDERS
06 August 2021
As you know, the National Capital Region (NCR) is placed under the Enhanced Community Quarantine (ECQ) from 06 to 20 August 2021 per declaration of the Inter-Agency Task Force for the Management of Emerging Infectious Diseases through its Resolution No. 130-A, Series of 2021, dated 29 July 2021. While the said ECQ is in place, PSALM will continue to follow a 100% operational capacity. At least twenty percent (20%) of PSALM’s manpower will be reporting to the office as skeleton workforce and the remainder will be under a work-from-home arrangement.
The above scheme is pursuant to Malacañang Memorandum Circular No. 87, Series of 2021, dated 03 August 2021, mandating government agencies and instrumentalities in the NCR to establish an on-site capacity during the ECQ period.
With the deployment of a skeleton workforce, physical documents or communications from stakeholders will be accepted at the office premises. However, onsite meetings with visitors and stakeholders will not be allowed. To ensure everyone’s safety, stakeholders are encouraged to channel their official communications and requests through firstname.lastname@example.org or via the respective email addresses and mobile phones of the concerned PSALM personnel. They will be attended to promptly.
PSALM ADVISORY ON DAMA CLAIMS
Status of Funding and Release of Funds to NPC
16 November 2020
On 28 October 2020, PSALM issued an Advisory on DAMA1 Claims & Interest Cut-off. This is to provide updates on the actions taken to secure the required funding for the settlement of these DAMA claims.
- The Board Resolution on PSALM’s supplemental budget for the payment of DAMA claims has already been circulated to and signed by the members of the PSALM Board.
- On the approval of the Department of Budget and Management (DBM) on the DAMA supplemental budget, all documentary requirements have been prepared and submitted by PSALM. The DBM, in an email on 09 November 2020, conveyed its recommended FY 2020 Corporate Operating Budget (COB) level for PSALM, which already includes the supplemental budget to cover the DAMA claims.
- PSALM has already made a drawdown from its loan facility with the Development Bank of the Philippines as funding for the DAMA claims.
- PSALM has remitted to the National Power Corporation (NPC) today, 16 November 2020, the initial funds for the payment of DAMA claims in accordance with the PSALM Board-approved procedures. PSALM expects the liquidation by NPC of the released funds, in accordance with the rules of the Commission on Audit and the PSALM Board-approved procedures.
- We reiterate that as to the manner and timing of the release of the payments to the DAMA claimants, NPC is the one responsible for the specific arrangements for and scheduling of the release of payments to settle the claims. Any questions relative to the same should be taken up with NPC directly.
For your information and guidance.
PSALM ADVISORY TO STAKEHOLDERSRE BILLINGS
FALLING DUE WITHIN THE PERIOD OF COMMUNITY QUARANTINE
06 November 2020
In view of the continued rise of confirmed Covid-19 cases and the ensuing economic disruption therefrom, Congress passed Republic Act No. 11494 entitled Bayanihan to Recover as One Act (Bayanihan 2) in August 2020, which was approved by President Rodrigo R. Duterte on 11 September 2020 and became effective on 14 September 2020. As part of the authorized Covid-19 response and recovery intervention particular to the electric power industry, Bayanihan 2 directed the implementation of... Read More...
PSALM ADVISORY ON DAMA CLAIMS & INTEREST CUT-OFF
Role of PSALM in the Settlement of DAMA1 claims
28 October 2020
The role of PSALM is to provide the funding needed to settle the DAMA claims in accordance with the computation validated by the Commission on Audit (COA) and pursuant to the latest Resolution of COA dated 10 September 2020, officially received by PSALM’s legal counsel on 29 September 2020. PSALM was not the employer of the DAMA claimants and had nothing to do with the termination of the DAMA claimants. Since PSALM was not the employer of the DAMA claimants, obviously the employment records... Read More
PSALM ADVISORY TO ITS STAKEHOLDERS RE BILLING
6 May 2020
The Power Sector Assets and Liabilities Management Corporation (“PSALM”) earlier issued its Advisories to Stakeholders dated 26 March 2020, 2 April and 17 April 2020 (“PSALM Advisories”) pursuant to the Government’s declaration of a State of Calamity throughout the Philippines in Proclamation No. 929 dated 16 March 2020, the advisories of the Energy Regulatory Commission (“ERC”) dated 17 and 26 March 2020 and 15 April 2020, and the advisories of the Department of Energy... Read More...
PSALM ADVISORY TO ITS STAKEHOLDERS RE BILLING
17 April 2020
The Power Sector Assets and Liabilities Management Corporation (“PSALM”) earlier issued its Advisories to Stakeholders dated 26 March and 02 April 2020 (“PSALM Advisories”) pursuant to the Government’s declaration of a State of Calamity throughout the Philippines in Proclamation No. 929 dated 16 March 2020, the advisories of the Energy Regulatory Commission (“ERC”) dated 17 and 26 March 2020, and the advisories of the Department of Energy (“DOE”) dated 18 and 23 March 2020 (“ERC and DOE Advisories”).
In view of the extension of the enhanced community quarantine (“ECQ”) in Luzon until 30 April 2020 due to the Coronavirus Disease 2019 (“COVID-19”), the ERC and the DOE issued their respective advisories dated 15 and 16 April 2020 (“ERC and DOE... Read More...
PSALM ADVISORY TO ITS STAKEHOLDERS RE SUBMISSION OF 2019 UNIVERSAL CHARGE (UC) ANNUAL REPORTS AND MARCH 2020 BILLING, COLLECTION / REMITTANCE REPORTS AND SPECIAL BANK RECEIPTS (SBRs)
02 April 2020
In line with the Government’s declaration of a State of Calamity throughout the Philippines due to the Coronavirus Disease 2019 (“COVID-19”) in Proclamation No. 929 dated 16 March 2020, and the concomitant directive on enhanced community quarantine in Luzon to contain the spread of the COVID-19, the Power Sector Assets and Liabilities Management Corporation (“PSALM”) recognizes the challenges in the mobilization and business operations of its stakeholders. Aware that the COVID-19 pandemic is causing severe disruption in the normal business operations of UC Collecting Entities (CEs), PSALM issues this Advisory to properly guide all UC CEs in the submission to PSALM of certain... Read More...
PSALM ADVISORY TO ITS STAKEHOLDERS RE BILLINGS
26 March 2020
In line with the Government’s declaration of a State of Calamity throughout the Philippines due to the Coronavirus Disease 2019 (“COVID-19”) in Proclamation No. 929 dated 16 March 2020, and the concomitant directive on enhanced community quarantine in Luzon to contain the spread of the COVID-19, the Power Sector Assets and Liabilities Management Corporation (“PSALM”) will strictly comply with the advisories of the Energy Regulatory Commission dated 17 and 26 March 2020 (“ERC Advisories”) and the advisories of the Department of Energy dated 18 March and 23 March 2020 (“DOE Advisories”). PSALM recognizes that the COVID-19 pandemic is causing long term adverse effects on people’s livelihood and severe disruption of economic activities. PSALM aims to help alleviate the difficulties suffered by the electricity consumers to the extent that PSALM can legally do so. PSALM hereby issues the following policies that will implement the ERC Advisories, the DOE Advisories, the existing contractual arrangements with PSALM, and PSALM’s credit and collection policies:
NOTICE TO ALL STAKEHOLDERS
23 March 2020
Pursuant to Memorandum Circular on Community Quarantine over the Entire Luzon and Further Guidelines of the Management of the Corona Virus Disease 2019 (COVID 19) issued by the Office of the President on 16 March 2020, please be advised that PSALM’s Office will be CLOSED to clients, visitors and stakeholders from 23 March to 13 April 2020 or until such time that the Enhanced Community Quarantine has been lifted.
All official communications and requests should be coursed through email@example.com or via the respective email addresses of responsible personnel during the quarantine period. They will be attended to promptly by the PSALM personnel who are following a work from home arrangement. While PSALM still has a lean skeletal workforce working in the PSALM office, they will not be receiving communications and requests in order to avoid exposure from COVID 19.
We will notify everyone should there be any changes to this current arrangement.
NOTICE TO ALL STAKEHOLDERS
13 March 2020
PSALM, a government-owned and controlled corporation that plays a crucial role in the energy sector, is constrained to continue with its functions amidst the COVID-19 threat. To comply with the directive of President Rodrigo Roa Duterte raising the Code Alert System for the COVID- 19 to Code Red Sublevel 2, and to protect the PSALM personnel from exposure to COVID-19, PSALM has institutionalized office policies adopting stringent social distancing measures starting today until 14 April 2020.
In order to continue serving our valued customers and the public, there will at all times be a skeletal workforce in PSALM's office premises that will ensure uninterrupted operations, while a work-from-home arrangement has been implemented for the majority of its personnel. With these arrangements in place, PSALM ensures the delivery of its critical, urgent and necessary... Read More...