Financial Management
Privatization Proceeds Generation, Collection and Utilization

PSALM’s privatization efforts generated a total of PhP912.021 billion as of 30 December 2020. Of this amount, actual collection amounted to PhP641.076 billion.

Privatization Proceeds:
Financial Bids and Collection
As of 30 December 2020
(In PHP Billion)

Assets Financial Bids Collected
In Billion PhP
Generating Assets 160.906 160.906
IPPA Administration 482.499 288.708
Transmission Concession 264.802 187.648
Decommissioned Plants 0.545 0.545
Other Assets/Priva-Related 3.269 3.269
Total 912.021 641.076

For the generating assets, the amount generated consists of financial bids based on Schedule C of the Asset Purchase Agreement (APA) and interest earned from deferred payments while for IPPA Appointments, the amount generated consists of monthly payments and generation fees under the IPP Administration Agreements.

For the TransCo Concession Fee, the amount generated is net of the final adjustment to Project Under Construction (PUC) and Initial Working Capital (IWC).

Total collections of PhP641.076 billion as of December 2020, augmented by interest income on placements and funds from power receivables* were exclusively utilized for the liquidation of financial obligations amounting to PhP685.61 billion.

Privatization Proceeds Utilization
As of 30 December 2020
(In PHP Billion)

Utilization Amount
(In PHP Billion)
Debt Prepayment 62.33
Regular Debt Service 412.14
BOT Lease Obligations 211.14
Subtotal 685.61
Other Privatization-Related Expenses 4.93
TransCo OPEX 0.05
  Total 690.59

USD1:PhP48.036 (BSP Guiding Rate dated 30 December 2020)

* Power receivables were used to augment funds for debt payment and other expenses