PSALM bent on restarting gov’t privatization thrust
By Amy R. RemoState-run Power Sector Assets and Liabilities Management Corp. is bent on pushing forward the governments privatization program, which has been stalled for nearly three years.
State-run Power Sector Assets and Liabilities Management Corp. is bent on pushing forward the governments privatization program, which has been stalled for nearly three years.
Former President Fidel V. Ramos forced the union of the Manila and Makati Stock Exchanges two decades ago, with favorable results as we now have a single bourse, the Philippine Stock Exchange. What Finance Secretary Cesar Purisima wants to see under the term of President Aquino is to unify the bond and equities market.
Power consumers should brace for higher electricity rates, starting March, as the Energy Regulatory Commission has allowed the state-run Power Sector Assets and Liabilities Management Corp. (PSALM) to collect P53.58 billion worth of so-called stranded contract costs.
Abra has persuaded its power supplier to serve the province once more, with the help of the Department of Energy (DOE) and various government agencies which have expressed concern about the impact of a power crisis in the May elections.
State run Power Sector Assets and Liabilities Management Corp. may tap the capital markets to raise up to P30 billion, if the sale of the 246-megawatt Angat power plant in Bulacan will not materialize this year.
The state-run Power Sector Assets and Liabilities Management Corp. expects to start collecting the P140 billion worth of universal charges for stranded debts and contract costs from all grid-connected power consumers early next year.
Power Sector Assets and Liabilities Management Corp. is looking for suppliers that will deliver P114 million worth of local coal to fuel the 146-megawatt Naga power complex in Cebu.
State-run Power Sector Assets and Liabilities Management Corp., or PSALM, will again offer for bids later this month the P556-million contract to operate and maintain the 650-megawatt Malaya thermal power plant in Rizal.
Manila Electric Co. customers can expect lower power bills in May as the generation charge fell by 6.38 centavos to P5.5983 per kilowatt-hour.
Power consumers should brace for higher electricity rates starting May, after the state-run National Power Corp. was allowed by a regulator to jack up its generation charge in Luzon by 69.04 centavos per kilowatt-hour (kWh), Visayas by 60.60 centavos per kWh and Mindanao, by 4.42 centavos per kWh.
State-run Power Sector Assets and Liabilities Management Corp. (PSALM) has moved to March 2012 the sale of four diesel-fired power barges, to give prospective bidders more time to conduct a grid impact study (GIS) on the facilities.
The Power Sector Assets and Liabilities Management Corp. (PSALM) has finally admitted that it lost $3.5 million in investments when the Lehman Brothers investment bank went belly up three years ago in the biggest bankruptcy case in US history, according to Eastern Samar Representative Benjamin Evardone.
