State-run Power Sector Assets and Liabilities Management Corporation (PSALM) is seeking Energy Regulatory Commission' (ERC) approval on the contracts for supply of electric energy (CSEE) and letters of agreements (LOAs) that it had entered into with power distribution utilities (DUs) in the Visayas...
Publicly-listed firm SPC Power Corporation and its affiliate-firm Intrepid Holdings Inc. (IHI) have acquired the 51 percent shareholdings of German firm STEAG GmbH in the 210-megawatt coal-fired power plant in Mindanao in a transaction valued at $52 million. In a disclosure to the Philippine Stock...
State-run Power Sector Assets and Liabilities Management Corporation (PSALM) has trimmed its outstanding financial obligations to P355.2 billion as of end-December last year, lower by roughly P26 billion from P381.72 billion in the prior year. Of the firm’s remaining liabilities, P264.3 billion...
Power Sector Assets and Liabilities Management Corporation (PSALM) paid P517.707 million tax obligations in a compromise deal with the Bureau of Internal Revenue (BIR) ,ending their decades-long tax disputes. The government-run power firm said the tax remittance covered the years from 2006 to 2016,...
The National Irrigation Administration (NIA) has transferred 60 percent of its 100 percent ownership over the massive P33.75 billion Casecnan Multipurpose Irrigation and Power Project (CMIPP) to the Power Sector Assets and Liabilities Management Corporation (PSALM). NIA Administrator Ricardo R....
The newly issued Executive Order No. 157 will significantly reduce the real property tax (RPT) obligations of state-run Power Sector Assets and Liabilities Management Corporation (PSALM) for its power supply deals to P200 million from P1.019 billion. "PSALM’s 2021 RPT obligations amounting to...
State-run Power Sector Assets and Liabilities Management Corporation (PSALM) has engaged multinational consulting firm PricewaterhouseCoopers (PwC) for a third party valuation that will serve as a "pricing anchor" for the privatization of the 165-megawatt Casecnan multi-purpose hydropower facility....
The Commission on Audit has upheld the decision of two state-run firms engaged in power management and distribution to spend US$ 2.69 million (approximately P134.5 million) in hiring foreign and local lawyers, together with expert witnesses, for legal representation in the arbitration proceedings...
State-run Power Sector Assets and Liabilities Management Corporation (PSALM) will re-bid its prime property in Mexico, Pampanga by early next year. In a statement to the media, PSALM noted that the next round of auction will be slated on January 20 next year. Interested buyers will be given leeway...
Uy-led Udenna Corporation has committed to fulfill its contractual obligation under Malampaya’s Service Contract 38 (SC38) to extract the P30 billion to P35-billion worth of ‘banked gas’ for state-run Philippine National Oil Company (PNOC) According to Udenna President Raymundo Martin M....
Filipino firm Panasia Energy Inc. was declared to have the ‘winning offer’ in the sale of the real estate assets in Limay, Bataan pwned by state-run Power Sector Assets and Liabilities Management Corporation (PSALM). At the bidding on Tuesday, Nov. 9, PSALM announced that Panasia Energy offered...
State-run Power Sector Assets and Liabilities Management Corporation (PSALM) has moved to November 9 this year the bid submission deadline for real estate assets that it is divesting in Limay, Bataan. The original schedule for the submission of tenders had been slightly delayed for four days from...
