The Power Sector Assets and Liabilities Management Corporation, the agency tasked by the government to manage and sell its energy assets, (PSALM) is scheduled to privatize two power barges late this year. “So far, we are set to put in auction block Power Barges 101 and 104 by December, 2010 to January, 2011,” said PSALM [...]
Posts Tagged ‘PSALM’
Group explores ways to trim universal charge for consumers (9/08/2010)
Posted in Manila Bulletin News, tagged PSALM, Universal charge on September 8, 2010 | Leave a Comment »
While not letting the “accountable parties” off the hook, a review body centering on the operations of the Power Sector Assets and Liabilities Management Corporation (PSALM) will explore ways on how to pare down the universal charge that will eventually be passed on to consumers via their electricity bills. The formation of the technical working [...]
Separation of NPC, PSALM accounts up (8/19/2010)
Posted in Manila Bulletin News, tagged NPC, PSALM on August 19, 2010 | Leave a Comment »
With the flurry of complaints from National Power Corporation (NPC) suppliers not being paid, Energy Secretary Rene D. Almendras noted that he will push for the “downstreaming” of the power firm’s book of accounts with that of the Power Sector Assets and Liabilities Management Corporation (PSALM). The energy chief told reporters that board meetings will [...]
Why consumers deserve a lower universal charge in their electric bills (8/13/2010)
Posted in Manila Bulletin News, tagged PSALM on August 13, 2010 | Leave a Comment »
Explaining the P471 billion stranded debts recovery of PSALM It was like a badly-written “telenovela” wherein the actors involved scramble for lines and plots in the lingering drama. But before the plot thickens on this P470.865 billion stranded debts recovery which will eventually be passed on to all Filipino electricity consumers, let us go back [...]
IPP sales proceeds to lower universal charge (8/12/2010)
Posted in Philippine Star News, tagged IPPA, PSALM, Universal charge on August 12, 2010 | Leave a Comment »
The Power Sector Assets and Liabilities Management Corp. (PSALM) has assured that proceeds from the privatization of independent power producer (IPP) contracts will be used to lower the universal charge (UC). In a statement, PSALM said “electricity consumers will benefit from the successful privatization of the contracted capacities of the National Power Corp. (Napocor) in [...]
Recto tags PSALM perks as among culprits for skyrocketing power rates (8/09/2010)
Posted in Philippine Star News, tagged EPIRA, Power cost, PSALM on August 9, 2010 | Leave a Comment »
Sen. Ralph Recto has blamed the performance bonuses, overtime pay and consultancy fees of state-run Power Sector Assets and Liabilities Management Corp. (PSALM) as one of the reasons why power rates have been skyrocketing for the past nine years. Recto said the bonuses, overtime pay and consultancy fees of PSALM are converted as part of [...]
ERC rejects P3.00/kWh rate in supply deal (8/05/2010)
Posted in Manila Bulletin News, tagged DWS, NPC, Power supply, PSALM on August 5, 2010 | Leave a Comment »
The power supply agreement, which has been repackaged as letter-agreement, entered into by the Power Sector Assets and Liabilities Management Corporation (PSALM) and National Power Corporation (NPC) with SPC Power Corporation (formerly Salcon Power) failed to secure the approval of the Energy Regulatory Commission (ERC) for the P3.00 per kilowatt hour (kWh) rate on the [...]
Almendras extends tenure of heads of energy GOCCs (8/05/2010)
Posted in Manila Bulletin News, tagged NEA, NPC, PNOC, PSALM, Transco on August 5, 2010 | Leave a Comment »
In line with the provisions of Malacañang-issued Memorandum Circular No. 2, Energy Secretary Rene D. Almendras has issued a cover memorandum echoing the extended tenure of the heads of government-owned and controlled corporations (GOCCs) in the energy sector and attached agencies until October 31 this year or until their replacements are named. Covered in the [...]
DoE digs deeper into PSALM’s calculations on swelling debts (8/03/2010)
Posted in Manila Bulletin News, tagged PSALM on August 4, 2010 | Leave a Comment »
With its bonuses and swelling liabilities now placed under public scrutiny, the Department of Energy (DoE) will be digging deeper into the colossal debts failed to be settled by the Power Sector Assets and Liabilities Management Corporation (PSALM), despite raising $10.625-billion proceeds from the privatization of the National Power Corporation. Energy secretary Rene D. Almendras [...]
FDC seeks stop to sale of remaining NPC assets (7/30/2010)
Posted in Inquirer News, tagged IPPA, NPC, Privatization, PSALM on July 30, 2010 | Leave a Comment »
THE FREEDOM from Debt Coalition has urged the government to suspend the sale of the remaining assets of National Power Corp., pending a comprehensive review of the Electric Power Industry Reform Act (Epira). “It will be truly judicious if the scheduled asset sale of the Power Sector Assets and Liabilities Management Corp. (PSALM) is put [...]
