PRICE WATERHOUSE COOPERS (PwC) Philippines has won a contract awarded by state-run Power Sector Assets and Liabilities Management Corp. (PSALM) to value the Malaya Thermal Power Plant and its underlying land.
“As the winning principal consultant, PwC Philippines shall be responsible for the drafting of financial models and analyses to optimize value for the land and structures of Malaya,” PSALM said in a statement Thursday.
Its sub-consultant, Asian Appraisal Company, Inc., will be responsible for appraising the Malaya site and is bound by the same terms and obligations that apply to the principal consultant.
PwC Philippines will present the results of its valuation to the Board of Directors of PSALM in August, the same day PSALM has set for the auction of the Malaya plant and land.
On March 4, PwC Philippines won the highest rating of three competing consultancy firms during the negotiated procurement.
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The Malaya power plant is run by PSALM through an operation and maintenance service contract.
Malaya is compelled to provide power as deemed necessary to ensure the reliability of supply in the Luzon grid, especially in times of power shortfall. It also provides a measure of system security and voltage support.
The winning bidder for the plant will not be compelled to operate it on a must-run basis. — Janina C. Lim