23 Jun 2016
The Power Sector Assets and Liabilities Management (PSALM) Corporation has contracted out a total of 3,843.71 Gigawatt-hour energy this year for its 49 Mindanao power customers.
"Majority of power customers in Mindanao composed of electric cooperatives (ECs), private utilities, industries and government agencies obtain their power requirements from PSALM," said PSALM Officer-in-Charge Lourdes S. Alzona.
"We will continue to service our customers while in the process of completing the privatization program. In fact, the entire dependable capacity of PSALM's remaining plants in Mindanao is allocated to them," Alzona said.
In 2015, PSALM delivered a total of 5,762.07 gigawatt hours to 48 power customers in Mindanao, 28 of which were prompt payors. This grossed to PhP16.24 billion in power sales with total discounts extended by PSALM reaching PhP0.37 billion.
PSALM allows prompt payors to enjoy three percent outright discount on their monthly bills to encourage other customers to observe early payments.
On the other hand, PSALM offers a restructuring program to assist power customers experiencing financial difficulties by offering a gradual payment scheme to settle their unpaid power bills including their overdue obligations to avoid disconnection from the grid.
Despite delayed payments attributed to many factors, PSALM keeps supplying the energy requirements of these customers, Alzona explained. "Imbued with social responsibility, our mandate is to help energize particularly the underserved franchise areas of electric cooperatives despite their ballooning unpaid power bills and overdue obligations," Alzona said.
PSALM also regularly conducts customer's forum in Mindanao to address specific concerns of the power customers, improve collection efficiency in the area, and to present the latest developments in the power industry.
Currently, PSALM sources energy from its remaining generating assets namely Power Barge 104, Agus I, II, IV to VII and Pulangi Hydroelectric Power Plants and from Independent Power Producer (IPP) plant namely Mindanao Coal-Fired Power Plant.###
Corporate Communications Division