State-run Power Sector Assets and Liabilities Management Corporation (PSALM) has reduced its outstanding debt by P8.44 billion last year to P346.76 billion from the prior year’s P335.25 billion on higher revenues. According to PSALM President and CEO Dennis Edward A. Dela Serna, the firm’s...
State-run Power Sector Assets and Liabilities Management Corporation (PSALM) is targeting a successful divestment of the 165-megawatt Casecnan hydropower plant once it is placed for bidding by March 28 this year. The company announced that the second and third pre-bid conferences for the plant’s...
State-run Power Sector Assets and Liabilities Management Corp. (PSALM) is seen posting residual debts of roughly P200 billion at the end of its corporate life in 2026, according to company President and CEO Dennis Edward Dela Serna. At end-June this year, the level of debts of the company had been...
State-run Power Sector Assets and Liabilities Management Corporation (PSALM) is lining up the 728-megawatt Caliraya-Botocan-Kalayaan (CBK) hydropower plant next in the auction block for the continuing privatization of government-owned power assets. According to PSALM President and CEO Dennis Edward...
At least 14 firms have expressed interest for the 165-megawatt Casecnan hydropower facility, which is scheduled for bidding in March next year. The interested parties which submitted letters of interest (LOI) to asset-seller Power Sector Assets and Liabilities Management Corporation (PSALM)...
State-run Power Sector Assets and Liabilities Management Corporation (PSALM) indicated that it is pursuing P34.04 billion worth of ‘overdue payables’ from South Premiere Power Corporation (SPPC), a subsidiary of San Miguel Corporation that served as independent power producer administrator...
When the value of the Philippine peso had been relatively favorable versus the US dollar, state-run Power Sector Assets and Liabilities Management Corporation (PSALM) indicated that it was able to trim power sector debts by P195.4 billion when the Duterte administration ended its reign on June 30...
State-run Power Sector Assets and Liabilities Management Corporation (PSALM) has P27.140 billion receivables from South Premiere Power Corporation (SPPC), a company under San Miguel group that served as independent power producer administrator (IPPA) of the 1,200-megawatt Ilijan gas-fired power...
The National Electrification Administration (NEA) is exploring means on how it can extend financial assistance to Lanao del Sur Electric Cooperative (LASURECO), of which power supply had been set for disconnection due to its P12.9 billion worth of unpaid obligations with state-run Power Sector...
The Department of Finance (DOF) has ordered the collection of unpaid electricity bills of the Maguindanao Electric Cooperative, Inc. (MAGELCO) and Lanao del Sur Electric Cooperative, Inc. (LASURECO). In a statement Wednesday, June 8, the DOF said MAGELCO and LASURECO have outstanding accounts...
The depleting Malampaya field lost the 1,200-megawatt Iljan plant as a major gas-offtaker (buyer) of its output starting this June 6, as the buyer will no longer renew its expiring gas supply and purchase agreement (GSPA) with the consortium led by Shell Philippines Exploration B.V. The Ilijan...
State-run Power Sector Assets and Liabilities Management Corp. (PSALM) wants to trim down further its financial obligations by implementing cost-cutting measures while increasing revenue collection, the Department of Finance (DOF) said. In a statement, Irene Joy Besido Garcia, PSALM president and...
