Newsroom
Year: 2020

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....

PSALM clarifies that the dismissed petitions to recover stranded contract costs and stranded debts were filed prior to the Murang Kuryente Act


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 releases to host LGUs their Share in National Wealth for First Quarter of 2020


The Power Sector Assets and Liabilities Management Corporation (PSALM) has fully remitted the amount of PHP46,077,239.87 as the Share in National Wealth (SNW) for First Quarter 2020 to the local government units (LGUs) hosting PSALM’s renewable power plants. Recipient LGUs were those in Benguet, Bukidnon, Laguna, Lanao del Norte, Lanao del Sur and Pangasinan. ...

PSALM extends anew sale of Malaya plant and its underlying land


In light of the extension of the enhanced community quarantine, the Power Sector Assets and Liabilities Management Corporation (PSALM) has again moved the deadline for the submission of bids for the ongoing Third Round of Public Bidding for the Malaya Thermal Power Plant (MTPP) and its underlying land from 19 May to 30 June 2020 at 12 noon....