PSALM collects PhP1.1-B prepayment from PELCO II
On 30 September 2015, the Power Sector Assets and Liabilities Management (PSALM) Corporation received in full the balance of the restructured obligation of the Pampanga II Electric Cooperative, Inc. (PELCO II) amounting to almost PhP1.1 billion (PhP1,095,346,131.73).
"The amount of prepayment sets the record as the biggest ever received by the government power firm from any electric cooperative...
Ilijan IPPA contract termination will not affect electricity prices
The notion that electricity prices will escalate with the termination of the Independent Power Producer Administrator (IPPA) Administration Agreement (AA) for the 1,200-megawatt Ilijan combined-cycle power plant is purely speculative, the Power Sector Assets and Liabilities Management (PSALM) Corporation said.
Reacting to media reports, PSALM President and Chief Executive Officer Lourdes S. Alzona...
PSALM: Only SC has jurisdiction to grant TRO
The Power Sector Assets and Liabilities Management (PSALM) Corporation asserted its position that the grant of the temporary restraining order (TRO) on the termination of the government's contract with South Premiere Power Corporation (SPPC) as Independent Power Producer Administrator (IPPA) in the 1,200-megawatt Ilijan combined-cycle power plant should not be under the jurisdiction of the Mandaluyong...
Termination of Ilijan IPPA agreement protects interest of government and power consumers
The decision to terminate the contract for the Independent Power Producer Administrator (IPPA) in the 1,200-megawatt Ilijan Combined Cycle Power Plant is to protect the interest of government and power consumers in the Batangas-based power facility, the Power Sector Assets and Liabilities Management (PSALM) Corporation said.
For failure to pay the outstanding Generation Payments for the period 26...
PSALM's Official Statement on SMEC's Complaint Filed with DOJ
PSALM has neither received nor seen a copy of SMEC's complaint allegedly charging the PSALM President and CEO of plunder relative to the 2009 Memorandum of Agreement on Sual Excess Capacity. PSALM will make the necessary comment as soon as it receives a copy of the said complaint. Ms. Lourdes S. Alzona was recently appointed on 03 August 2015 as PSALM's President and CEO....