Financial Management
Privatization Proceeds Generation, Collection and Utilization

PSALM’s privatization efforts generated a total of PhP911.84 billion as of 31 December 2019. Of this amount, actual collection amounted to PhP602.03 billion.

Privatization Proceeds Generation and Collection
As of 31 December 2019
(In PHP Billion)

Assets Generated Collected Remaining Deferred Payments
Generating Assets 160.905 160.905 -
Decommissioned Plants 482.499 253.398 212.837
Transmission Business (Concession Fees) 264.802 184.096 80.706*
Appointment of IPPAs 0.545 0.545 -
Total 3.089 3.089 -

* Exclusive of estimated foregone interest resulting from the advance payment made by NGCP to PSALM in 2013 which is now subject of an Arbitration Case between NGCP and PSALM/TRANSCO.

Total collections of PhP602.03 billion as of December 2019, including interest income on placements, were exclusively utilized for the liquidation of financial obligations amounting to PhP648.40 billion as of December 2019.

Privatization Proceeds Utilization
As of 31 December 2019
(In PHP Billion)

Utilization Amount
(In PHP Billion)
Debt Prepayment 65.84
Regular Debt Service 388.99
BOT Lease Obligations 193.57
Other Privatization-Related Expenses 5.01
TransCo OPEX 0.05
  Total 653.46

USD1:PhP50.744 (BSP Guiding Rate dated 31 December 2019)