Financial Management
Privatization Proceeds Generation, Collection and Utilization

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