PSALM starts sale of Tiwi-Makban geothermal assets
With investor interest remaining high in the government's power privatization program, the Power Sector Assets and Liabilities Management Corporation (PSALM) today opened this year's sale schedule for the generating assets of the National Power Corporation with the auction of the 289-megawatt (MW) Tiwi and 458.53-MW Makban geothermal power plant complex.
In the Invitation to Bid it published in...
JCPC clears PSALM president of conflict of interest charges
The Joint Congressional Power Commission (JCPC), at its hearing last 14 February, absolved Power Sector Assets and Liabilities Management Corporation (PSALM) President and Chief Executive Officer Jose C. Ibazeta of charges of conflict of interest in the bidding for the right to operate the National Transmission Corporation (TransCo).
"No one objected so we dismissed the charges against the PSALM...
PSALM confident of resolving plant specific issues
The Power Sector Assets and Liabilities Management Corporation (PSALM) expressed optimism that it would be able to immediately resolve specific issues facing the 75-megawatt (MW) Ambuklao facility and the 100-MW Binga plant to facilitate the transfer of these power facilities to their new owner.
PSALM is seeking the support and cooperation of particular government agencies and stakeholders in the...
Court junks case by “$6B bidder” vs. Transco bidding
The Regional Trial Court (RTC) of Makati dismissed the complaint of La Costa Development Corp. against the Power Sector Assets and Liabilities Management Corporation (PSALM) for failing to state a cause of action and for lack of jurisdiction against PSALM and its President, Mr. Jose C. Ibazeta.
In its decision dated 05 February 2008, Branch 61 of the Makati RTC said that La Costa “faltered to state...
PSALM set to achieve 70% privatization level by yearend
The era of open access and retail competition in the Philippine electricity industry is moving closer to reality as the board of the Power Sector Assets and Liabilities Management Corporation (PSALM) formally approved the 2008 sale schedule of National Power Corporation's generation assets to bolster the government's objective to achieve the targeted 70% privatization level before the year ends. The...