Newsroom
Year: 2020

PSALM cuts financial obligations by P17.7-B in second quarter of 2020


The Power Sector Assets and Liabilities Management Corporation (PSALM) has managed to successfully lower its financial obligations by P17.7 billion, from the P422.01 billion level as of 01 January 2020 to P404.28 billion as of 14 May 2020. PSALM had sufficient funds to pay all its maturing obligations in the first five months of the year, even those that fell due during the enhanced community quarantine. PSALM’s liquidity was mainly because of its efficient performance in 2019 and in the early months of 2020, and notwithstanding the deferment of substantial revenue collections during the ECQ as ordered by the Energy Regulatory Commission and the Department of Energy on COVID-19. ...

PSALM releases to host LGUs their Share in National Wealth for First Quarter of 2020


The Power Sector Assets and Liabilities Management Corporation (PSALM) has fully remitted the amount of PHP46,077,239.87 as the Share in National Wealth (SNW) for First Quarter 2020 to the local government units (LGUs) hosting PSALM’s renewable power plants. Recipient LGUs were those in Benguet, Bukidnon, Laguna, Lanao del Norte, Lanao del Sur and Pangasinan. ...

PSALM extends anew sale of Malaya plant and its underlying land


In light of the extension of the enhanced community quarantine, the Power Sector Assets and Liabilities Management Corporation (PSALM) has again moved the deadline for the submission of bids for the ongoing Third Round of Public Bidding for the Malaya Thermal Power Plant (MTPP) and its underlying land from 19 May to 30 June 2020 at 12 noon....

Implementing Rules and Regulations of the Murang Kuryente Act Signed


Power consumers can now look forward to the implementation of Republic Act No. 11371, known as the “Murang Kuryente Act” (MKA). Finance Secretary Carlos G. Dominguez and Energy Secretary Alfonso G. Cusi have signed the Joint Circular No.1, Series of 2020 to operationalize the provisions of the MKA....

PSALM allows use of Bagac, Bataan facility to help with the COVID-19 relief efforts


Pursuant to Republic Act (RA) No. 11469 or the “Bayanihan to Heal as One Act,” the Power Sector Assets and Liabilities Management Corporation (PSALM) and the Municipality of Bagac, Province of Bataan entered into an agreement which allows the Municipality to use PSALM’s Bagac Hotel and Conference Center, free of charge, as transition housing for recently discharged patients that need to be isolated for 14 days....