02 May 2019
The Power Sector Assets and Liabilities Management Corporation (PSALM) resumed on 11 April 2019 its distribution of compensation checks to individuals, families, and enterprises who were affected by the Power Barge (PB) 103 Oil Spill at the height of Super Typhoon Yolanda in 08 November 2013. The 32-megawatt PB 103 was then moored at Brgy. Botongon in the Municipality of Estancia, Iloilo when it was swept aground due to strong winds and storm surge.
Twenty-three (23) out of the twenty-six (26) beneficiaries, hailing mostly from Brgy. Botongon and Poblacion Zone I, form part of the sixth and latest batch of claimants where PSALM paid a total of PhP340,428.00 worth of indemnities. Beneficiaries who were not yet able to claim their checks may coordinate with PSALM.
PSALM’s settlement of third-party claims is based on the recommendation of the Government Service Insurance System (GSIS) adjuster, Claims Services International Adjusting Co., and endorsement of GSIS.
To date, a total of PhP7,798,175.00 has already been settled and released to the first to sixth batch of claimants.
Immediately after the incident, PSALM has provided financial aid amounting to Two Million Pesos (PhP2,000,000) to Iloilo families affected by the oil spill through the provincial and municipal government.
Corporate Communications Division