PSALM holds pre-bid conference for the sale of Agusan, Maco, Nasipit and Puerto Azul Assets
The Power Sector Assets and Liabilities Management Corporation (PSALM) held a pre-bid conference on 21 July 2020 as part of the process for the sale of its Agusan, Maco, Nasipit and Puerto Azul real estate assets. The bid submission deadline for these assets is scheduled on 06 August 2020 at 2:00 PM....
Dismissed UC petitions filed prior to Murang Kuryente passage
By Jordeene B. Lagare, The Manila Times, June 29, 2020
The Power Sector Assets and Liabilities Management Corp. (Psalm) clarified that petitions on imposing the universal charge (UC) on electricity end-users were filed prior to the enactment of a law that aims to reduce power rates....
The Power Sector Assets and Liabilities Management Corporation (PSALM) wishes to clarify that the petitions for the recovery of its stranded contract costs (SCC) and stranded debts (SD) through the Universal Charge (UC) that were recently dismissed by the Energy Regulatory Commission (ERC) are petitions that have been pending with the ERC even before the enactment of the Murang Kuryente Act or Republic Act No. 11371. These petitions covering SCC and SD incurred in years 2014 to 2018 were annually filed with the ERC in years 2015 up to 2019, respectively. None of these petitions were filed after the passage of the Murang Kuryente Act....
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 holds bid opening for Malaya plant O&M contract
The Power Sector Assets and Liabilities Management Corporation (PSALM) held a bid opening today, 27 July 2020, relative to the public bidding for the Operation and Maintenance Service Contract (OMSC) of the Malaya Thermal Power Plant (TPP)....