Financial Management
Privatization Proceeds Generation, Collection and Utilization

PSALM’s privatization efforts generated a total of PHP907.773 billion as of 30 June 2021. Of this amount, actual collection amounted to PHP657.873 billion.

Privatization Proceeds:
Financial Bids and Collection
As of 30 June 2021
(In PHP Billion)

Assets Financial Bids Collected
In Billion PhP
Generating Assets 160.906 160.906
IPPA Administration 482.499 304.051
Transmission Concession 260.543 189.091
Decommissioned Plants    0.524    0.524
Other Assets/Priva-Related     3.301    3.301
Total 907.773 657.873

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 PHP657.873 billion as of June 2021, augmented by interest income on placements and funds from power receivables* were exclusively utilized for the liquidation of financial obligations amounting to PHP712.94 billion. .

Privatization Proceeds Utilization
As of 30 June 2021
(In PHP Billion)

Utilization Amount
(In PHP Billion)
Debt Prepayment  62.99
Regular Debt Service 428.26
BOT Lease Obligations 221.69
Subtotal 712.94
Other Privatization-Related Expenses    4.94
TransCo OPEX    0.05
  Total 717.93

USD1:PhP48.5440 (BSP Guiding Rate dated 30 June 2021)

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