Newsroom
Year: 2011

PSALM extends supply contract with Meralco


The Power Sector Assets and Liabilities Management (PSALM) Corporation will extend its transition supply contract (TSC) with the Manila Electric Company (Meralco) for a maximum period of one year or until three months after the introduction of open access and retail competition, whichever comes earlier, subject to the approval of the Energy Regulatory Commission (ERC). PSALM President and Chief...

PSALM incurred no losses in Lehman transaction


The Power Sector Assets and Liabilities Management (PSALM) Corporation has not incurred any losses in its Principal Only Swap (POS) transaction with Lehman Brothers Special Financing Inc. executed on 18 July 2007. PSALM made the clarification in response to published claims of Eastern Samar Representative Ben Evardone that PSALM had admitted losing USD3.5 million in investments with Lehman...

PSALM did not commit to withdraw Universal Charge petitions


The Power Sector Assets and Liabilities Management (PSALM) Corporation has not committed to the House Committee on Energy that it will withdraw its applications with the Energy Regulatory Commission for the recovery of the stranded financial obligations of the National Power Corporation (NPC) through the Universal Charge (UC). PSALM President and Chief Executive Officer Emmanuel R. Ledesma Jr. made...

PSALM to commence bidding for power barges


The Power Sector Assets and Liabilities and Management (PSALM) Corporation will commence the privatization of Power Barges (PB) 101, 102, 103 and 104 before the year ends. PSALM President and Chief Executive Officer Emmanuel R. Ledesma, Jr. said that the PSALM Board has approved the sale of the power barges with the condition to transfer the barges to Mindanao to augment the power supply in the...

PSALM clarifies decision on ecozone rates


The Power Sector Assets and Liabilities Management (PSALM) Corporation clarified that the power rates for economic zones is not a matter that only PSALM can undertake. It is a product of a contractual agreement between the power customer, in this case the economic zones, and the power supplier. After the privatization of most Luzon plants previously owned by the National Power Corporation (NPC), PSALM...