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State firm managing power assets seeks help to collect P216M from cooperatives

By: - Reporter / @daxinq
/ 04:11 PM September 04, 2019

The Power Sector Assets and Liabilities Management Corp. urged the Energy Regulatory Commission to immediately resolve cases pending before it involving the state-owned firm’s effort to collect unpaid dues totaling P216 million from several distribution companies and industries.

PSALM president and CEO Irene Besido Garcia said these cases involve unpaid Default Wholesale Supplier Arrangement (DWSA) fees of five firms that have contested the amounts at the ERC.

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These cases involve the Angeles Electric Corp., San Fernando Light and Power Co. and Tarlac Electric Inc., which jointly questioned PSALM’s collection of P75 million in DWSA charges.

PSALM also aims to collect P2.6 million from the Melters Steel Corp., which has also lodged a case against the state-owned firm and the National Power Corp. at the ERC. Another pending case at the ERC involving unpaid DWSA charges and power rate adjustments was filed by the Steel Corp. of the Philippines amounting to P138.3 million.

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“These cases delay PSALM’s collection efforts,” Garcia said. She said the PSALM, which manages power assets left to the government under the Electric Power Industry Reform Act or Epira, “desperately” needed fhe payments to settle the remaining obligations we assumed from Napocor.”

Finance Secretary Carlos Dominguez III, who chairs PSALM’s board of directors, and Energy Secretary Alfonso Cusi, vice chair, were furnished copies of PSALM’s letter to ERC.

In her letter, Garcia stressed that “PSALM is very confident of its legal position” in its effort to collect payments from the delinquent electricity users.

Garcia pointed out that PSALM’s position on this issue is fully supported by both the ERC and the Department of Energy.

Earlier, PSALM also demanded payment from 14 firms with long-overdue fees amounting to nearly P2 billion.

PSALM is bent on collecting P238.3 million in unremitted universal charges from 11 electric cooperatives./TSB

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TAGS: assets, charges, delinquent, dues, ERC, power, PSALM‎
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