UC collections to improve PSALM cash flow
The approval by the Energy Regulatory Commission (ERC) of the petition of the Power Sector Assets and Liabilities Management (PSALM) Corporation to recover the stranded contract costs (SCC) of the National Power Corporation (NPC) from 2007 to 2010 through the Universal Charge (UC) will augment the revenues of the privatization firm in the next four years.
PSALM received the ERC decision on 19 February...
PSALM launches 2013 diesel oil procurement projects
In line with its fuel procurement program for 2013, the Power Sector Assets and Liabilities Management (PSALM) Corporation on Wednesday (13 February 2013) has commenced its acquisition of 1.93 million liters worth of industrial diesel oil (IDO) for various power plants with an approved aggregate budget of PhP80,455,464.00.
PSALM's Invitation to Bid specified four (4) procurement projects for its...
PSALM closely monitors Malaya TPP mishap
The Power Sector Assets and Liabilities Management (PSALM) Corporation is closely coordinating with operator SPC Power Corporation (SPC) regarding the mishap that occurred at the 650-megawatt (MW) Malaya Thermal Power Plant (TPP) in Pililla, Rizal, on Sunday (03 February 2013).
In a report, SPC said that the accident happened at around 1:40 p.m. when the scaffolding at the smokestack of Unit 2 of...
PSALM sets 2013 industrial fuel oil requirements
The Power Sector Assets and Liabilities Management (PSALM) Corporation on Thursday (31 January 2013) has commenced its fuel procurement program for 2013 with the procurement of industrial fuel oil (IFO) for various power plants totaling 474 million liters (473,880,000 liters) and has a combined budget of PhP15 billion (PhP14,936,532.00).
In a published invitation to bid, PSALM launched four (4)...
PSALM gets BIR nod on streamlined accounting system
The Power Sector Assets and Liabilities Management (PSALM) Corporation - one of the country's largest taxpayers - has adopted the New General Accounting System (NewGAS), a computerized accounting system (CAS) that streamlines PSALM's business transactions with the Bureau of Internal Revenue (BIR). The development of PSALM's CAS, which resulted in the implementation of the NewGAS, is a collaboration...