PSALM’s privatization efforts generated a total of PHP912.013 billion as of 30 September 2021. Of this amount, actual collection amounted to PHP672.572 billion.
Privatization Proceeds:
Financial Bids and Collection
As of 30 September 2021
(In PHP Billion)
| Assets | Financial Bids | Collected |
|---|---|---|
| In Billion PhP | ||
| Generating Assets | 165.091 | 165.091 |
| IPPA Administration | 482.499 | 313.067 |
| Transmission Concession | 260.543 | 190.534 |
| Decommissioned Plants | 0.524 | 0.524 |
| Other Assets/Priva-Related | 3.356 | 3.356 |
| Total | 912.013 | 672.572 |
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 PHP672.572 billion as of September 2021, augmented by interest income on placements and funds from power receivables* were exclusively utilized for the liquidation of financial obligations amounting to PHP673.62 billion.
Privatization Proceeds Utilization
As of 30 September 2021
(In PHP Billion)
| Utilization | Amount (In PHP Billion) |
|---|---|
| Debt Prepayment | 57.62 |
| Regular Debt Service | 425.66 |
| BOT Lease Obligations | 190.34 |
| Subtotal | 673.62 |
| Other Privatization-Related Expenses | 4.82 |
| Total | 678.44 |
USD1:PHP50.959 (BSP Guiding Rate dated 30 September 2021)
* Power receivables were used to augment funds for debt payment and other expenses
