State-run Power Sector Assets and Liabilities Management Corp. seeks to increase electricity rates in Luzon and the Visayas to recover from consumers P3.85 billion in foreign exchange related and fuel and purchased power costs.
The government is bent on offering again to the private sector the four diesel-fired power barges as soon as possible as these facilities are crucial in helping avert a possible 200-megawatt shortage in Mindanao by the summer of next year.
State-run Power Sector Assets and Liabilities Management Corp. (PSALM) will push through with the bidding of four diesel-fired power barges on May 16, marking the resumption of the government’s privatization activities.
Bayan Muna Representative Teddy Casiño said Thursday he will ask the House next week to initiate an inquiry on what he said were “fake claims” of the Power Sector Assets and Liabilities Management Corp. (PSALM) that it suffered up to P15 billion in losses from the operation of the Mindanao hydropower plants.
State-run Power Sector Assets and Liabilities Management Corp. said it has incurred losses amounting to as much as P15 billion from 2001 to 2011 from operating the government’s power facilities in Mindanao.
Energy Secretary Jose Rene D. Almendras has urged Congress anew to extend the corporate life of state-run Power Sector Assets and Liabilities Management Corp. by another 10 years to further ease the impact of collecting the debt of power consumers worth over P140 billion.
The Department of Energy will propose the absorption by the government of portion of the P139 billion in stranded debts and contract costs incurred by Power Sector Assets and Liabilities Corp.
Eleven investors have expressed interest in acquiring the four diesel-fired power barges that the government is putting up for sale, according to state run Power Sector Assets and Liabilities Management Corp.
State-run Power Sector Assets and Liabilities Management Corp. is seeking offers from the private sector to supply and deliver $16.8 million (roughly P722 million) worth of steaming coal for the 146-megawatt Naga power complex in Cebu.
The state-run Power Sector Assets and Liabilities Management Corp. (PSALM) has finally set off the bidding process for the sale of its four diesel-fired Power Barges 101, 102, 103 and 104, hopefully marking the resumption of the much stalled privatization activities of the government.
State-run National Power Corp. (Napocor) is set to receive P2.7 billion in funds from the Power Sector Assets and Liabilities Management Corp. (PSALM).
Power Sector Assets and Liabilities Management Corp. (PSALM) plans to sell six government-owned power plants and two independent power producer administrator (Ippa) contracts this year, in a bid to help plug an expected P85-billion deficit.
