Mandate

Tasked to help transform the power industry into a competitive, market-driven sector is the Power Sector Assets and Liabilities Management Corporation (PSALM).

PSALM began operations on July 11, 2001 to take ownership, manage, privatize and dispose of all existing generation assets, liabilities, real estate and other disposable resources of National Power. These include contracts with independent power producers that the state-owned power firm tapped in the 1990s − the height of the crippling power crisis − to put up the additional generating capacity that the country needed to ensure an adequate supply of electricity.

PSALM assumes all outstanding obligations of National Power. PSALM also owns the transmission assets and facilities and sub-transmission functions and resources of the TransCo. It has a corporate life of 25 years, after which all its properties will be turned over to the Philippine government.