PSALM is divided into four main functional groups headed and supervised by four vice presidents. These are the General Counsel, the Finance Group, the Asset Management and Electricity Trading Group, and the Contracts Management and Corporate Services Group.
The Office of the General Counsel handles all legal transactions relevant to the privatization proceedings, the restructuring of the electricity industry, and the implementation of the EPIRA. It resolves problems and negotiates issues related to the restructuring of National Power’s foreign and domestic loans as well as new borrowings. This group also takes charge of litigating cases and formulating resolutions on matters related to the transfer of ownership of National Power assets from the government to the private sector. It provides professional expertise and legal advice on the management and operation of PSALM and on all contracts and agreements that the corporation forges with other government agencies, instrumentalities and private entities.
Finance
The Office of the Vice President for Finance Group handles and oversees the management of all matters related to the corporation’s financial resources and obligations. These include the formulation of guidelines for the proper collection of the UC and power bill receivables, and the development and updating of financial models necessary to determine the most appropriate reserve price for the generating assets.
The office is in charge of developing and maintaining an effective and efficient accounting system for the corporation, preparing financial statements and financial management reports, and conducting special studies and researches on matters affecting the corporation’s financial condition. It also handles the servicing of foreign exchange requirements, analyzes/reviews documents for debt absorption and debt transfer, financial services, and manages the corporation’s funds.
The group reviews and recommends policies for effective fuel procurement, analyzes risks and develops relevant strategies and policies to address any such risk, and reviews and evaluates the pricing and structure of bond issuances, loan proposals and other funding or borrowing transactions of PSALM.
Asset Management and Electricity Trading
The Asset Management and Electricity Trading (AMET) Group, through its Asset Valuation and Disposal Department, prepares pertinent documents, guidelines and procedures for the privatization of National Power generation and non-generation assets, real estate, IPP contracts, and other disposable resources. It takes the lead in the bidding process by preparing efficient market strategy, screening potential bidders according to qualification guidelines, and evaluating bids in terms of price structure, financial strength and technical capabilities.
The trading teams handle the market-related operations of National Power and its IPPs in the electricity market. They develop trading and risk management policies, procedures and code of conduct that will guide their trading activities. To pursue the expansion of their market, the teams regularly seek individuals and parties interested in entering into bilateral agreements with the government on the supply of energy.
Contracts Management and Corporate Services
The Contracts Management and Corporate Services (CMCS) handles the management and administration of contracts and agreements of the corporation with National Power and the IPPs. It also reviews and evaluates the performance and operational parameters of power plants, and maintains a repository of contracts and information on all power generating assets for management’s use.
It is responsible for the overall planning, managing, directing, constructing, implementing, and evaluating corporate programs, projects and activities covering the administration and monitoring of corporate budget, specifically its execution and utilization.
The office also oversees the provision of general services to the corporation, formulates a strategic plan for the human resources function, administers employees’ monetary compensation, staff welfare and facilities, and handles personnel management, including personnel advancement and labor relations.
It is also responsible for the establishment of technology trends for the PSALM Corporation. It conducts strategic planning to align information and communication technology with the business function of the corporation, and handles planning and management of information and communications technology services.
