Financial Management
Privatization Proceeds Generation, Collection and Utilization

PSALM’s privatization efforts generated a total of PHP913.701 billion as of 31 March 2022. Of this amount, actual collection amounted to PHP693.528 billion.

Privatization Proceeds Generation and Collection
As of 31 March 2022
(In PHP Billion)

Assets Financial Bids Collected
Generating Power Plants 164.029 164.029
IPPA Administration 482.499 330.892
Transmission Concession 260.543 191.977
Decommissioned Plants    0.524    0.524
Other Assets/Priva-Related     6.105     6.105
Total 913.701 693.528

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 PHP693.528 billion as of March 2022, augmented by interest income on placements and funds from power receivables*, were exclusively utilized for the liquidation of financial obligations amounting to PHP692.80 billion.

Privatization Proceeds Utilization
As of 31 March 2022
(In PHP Billion)

Utilization Amount
(In PHP Billion)
Debt Prepayment   57.62
Regular Debt Service 440.81
BOT Lease Obligations 194.37
  Subtotal 692.80
Other Privatization-Related Expenses    4.82
Total 697.61

USD1:PHP51.9600 (BSP Guiding Rate dated 31 March 2022)

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