PSALM’s Universal Charge and Accounts Management Department conducts one-day Reconciliation Activity with the collecting entities of Universal Charge in Luzon
The Universal Charge and Accounts Management Department (UCAMD) of Power Sector Assets and Liabilities Management (PSALM) Corporation conducted its one-on-one face-to-face Universal Charge (UC) Reconciliation Activity with six Luzon collecting entities (CEs) on 08 May 2024 at PSALM Kalayaan Hall, 10th floor Vertis North Corporate Center 1, Quezon City.
The following CEs, composed of one (1) private distribution utility and five (5) electric cooperatives, participated in the said activity:
Subic EnerZone Corporation (SEZ)
Pampanga I Electric Cooperative, Inc. (PELCO I)
Pampanga II Electric Cooperative, Inc. (PELCO II)
Benguet Electric Cooperative, Inc. (BENECO)
Nueva Ecija II Electric Cooperative, Inc. - A-2 (NEECO II – A-2)
Pangasinan III Electric Cooperative, Inc. (PANELCO III)
The UC reconciliation between PSALM and CEs’ books addressed specific concerns and resolved UC-related issues of CEs with the ultimate objective of arriving at reconciled balances of CEs and PSALM's books of accounts for each of the five UC components. CEs are likewise encouraged to religiously comply with the Energy Regulatory Commission (ERC)-approved Guidelines and Procedures Governing the Remittances and Disbursements of UC, generally known as “UC Guidelines”, as amended, particularly on the timely remittance of UC and submission of UC reports to PSALM.
The UC reconciliation is in compliance with Section 8(a)(2) of the UC Guidelines, requiring PSALM, acting in its capacity as administrator of the Special Trust Fund accounts, to reconcile each component of the UC billings, collections and remittances with the books of accounts of CEs.
PSALM’s Universal Charge and Accounts Management Department conducts one-day Reconciliation Activity with the collecting entities of Universal Charge in Luzon
The Universal Charge and Accounts Management Department (UCAMD) of Power Sector Assets and Liabilities Management (PSALM) Corporation conducted its one-on-one face-to-face Universal Charge (UC) Reconciliation Activity with six Luzon collecting entities (CEs) on 08 May 2024 at PSALM Kalayaan Hall, 10th floor Vertis North Corporate Center 1, Quezon City.
The following CEs, composed of one (1) private distribution utility and five (5) electric cooperatives, participated in the said activity:
The UC reconciliation between PSALM and CEs’ books addressed specific concerns and resolved UC-related issues of CEs with the ultimate objective of arriving at reconciled balances of CEs and PSALM's books of accounts for each of the five UC components. CEs are likewise encouraged to religiously comply with the Energy Regulatory Commission (ERC)-approved Guidelines and Procedures Governing the Remittances and Disbursements of UC, generally known as “UC Guidelines”, as amended, particularly on the timely remittance of UC and submission of UC reports to PSALM.
The UC reconciliation is in compliance with Section 8(a)(2) of the UC Guidelines, requiring PSALM, acting in its capacity as administrator of the Special Trust Fund accounts, to reconcile each component of the UC billings, collections and remittances with the books of accounts of CEs.
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