ERC decision spurs investor interest in TransCo
Investor interest in the National Transmission Corporation (TransCo) is growing as seven parties recently signified their intention to bid for TransCo's 25-year concession by submitting their expressions of interest to the Power Sector Assets and Liabilities Management Corporation (PSALM)....
TransCo concessionaire to secure franchise from Congress
The winning bidder for the 25-year concession of the National Transmission Corporation (TransCo) will be required to obtain a congressional franchise to operate the transmission company which is considered a public utility. This will be one of the conditions precedent to complete the transaction, said Ms. Nieves L. Osorio, president of the Power Sector Assets and Liabilities Management Corporation (PSALM). PSALM is set to bid out the TransCo concession in September this year....
This is to clarify issues raised by Mr. J.A. dela Cruz in his 8 June 2006 column entitled "The YNN Masinloc Express." Mr. Dela Cruz joins the long list of newspaper columnists who had aired virtually the same concerns, leading us to conclude that they had only one source for their respective columns. As Mr. Dela Cruz aptly put it: "Your guess is as good as mine."...
Calaca reserve price to be reviewed, announced before bidding
To ensure that only interested parties who can meet the reserve price will participate in the third round of bidding for the 600-megawatt Calaca coal-fired plant in Batangas, the Power Sector Assets and Liabilities Management Corporation (PSALM), the agency tasked to privatize the National Power Corporation's generation assets, will announce the reserve price prior to the bidding date. ...
PSALM forfeits YNN'S $14-million performance bond
The Power Sector Assets and Liabilities Management Corporation (PSALM) Board of Directors has decided to call on the $14-million performance bond of Masinloc plant's winning bidder, YNN Pacific Consortium Inc., after it failed to deliver the $227.54-million upfront payment on June 30, 2006....