Financial Management
Privatization Proceeds Generation, Collection and Utilization

PSALM’s privatization efforts generated a total of PhP911.040 billion as of 31 March 2021. Of this amount, actual collection amounted to PhP653.218 billion.

Privatization Proceeds:
Financial Bids and Collection
As of 31 March 2021
(In PHP Billion)

Assets Financial Bids Collected
In Billion PhP
Generating Assets 164.069 164.069
IPPA Administration 482.499 296.129
Transmission Concession 260.543 189.091
Decommissioned Plants 0.660 0.660
Other Assets/Priva-Related 3.269 3.269
Total 911.040 653.218

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 PhP653.218 billion as of March 2021, augmented by interest income on placements and funds from power receivables* were exclusively utilized for the liquidation of financial obligations amounting to PhP700.94 billion.

Privatization Proceeds Utilization
As of 31 March 2021
(In PHP Billion)

Utilization Amount
(In PHP Billion)
Debt Prepayment 62.89
Regular Debt Service 419.29
BOT Lease Obligations 218.76
Subtotal 700.94
Other Privatization-Related Expenses 4.94
TransCo OPEX 0.05
  Total 705.93

USD1:PhP48.466 (BSP Guiding Rate dated 31 March 2021)

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