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PSALM starts negotiated sale of P458-M property in Paco, Manila

STATE-LED Power Sector Assets and Liabilities Management Corp. (PSALM) will hold an online pre-negotiation conference on Thursday for the sale of its Paco, Manila property.

PSALM invites bidders for real estate properties in Bohol, GenSan

STATE-LED Power Sector Assets and Liabilities Management Corp. (PSALM) has opened its second round of bids for qualified individuals, corporations and partnerships for the sale of the agency’s real estate properties across the country.

PSALM to two power entities: Settle P671-M arrears

THE Power Sector Assets and Liabilities Management Corp. (PSALM) has sent final demand letters to two entities in the power sector for them to settle outstanding obligations worth P671.16 million, the Department of Finance (DoF) said in a press release on Tuesday.

Gov’t to borrow P38B to fund Murang Kuryente obligations next year

THE GOVERNMENT will need to borrow around P38 billion to cover the full cost of its obligations under the Murang Kuryente Act because the budgeted funds amount to only P8 billion, the Power Sector Assets and Liabilities Management (PSALM) Corp. said.

PSALM fails anew to sell Malaya power plant

STATE-LED Power Sector Assets and Liabilities Management Corp. (PSALM) on Wednesday declared another failed bidding for the sale of its 650-megawatt (MW) Malaya Thermal Power Plant despite already cutting its price to over a half.

PSALM subsidy budget cut to P8B in 2021 budget bill

THE GOVERNMENT has cut the subsidy under next year’s national budget for debts of the National Power Corp. (Napocor) that are now being charged on consumers.

PSALM’s Malaya plant gets lone bid from former operator Soosan

THE former operator of the Rizal diesel-fired power plant owned by the state-led Power Sector Assets and Liabilities Management Corp. (PSALM) is the lone bidder for the generator’s service contract.

PSALM conducts pre-bid sessions for Cavite Mindanao, assets

THE Power Sector Assets and Liabilities Management Corp. (PSALM) said it conducted pre-bid sessions for assets in Mindanao and Cavite with the combined floor price set at P39.34 million.

ERC junks PSALM petitions on universal charge

THE Energy Regulatory Commission (ERC) has dismissed several petitions of the state-led Power Sector Assets and Liabilities Management Corp. (PSALM) on the collection of some universal charges from 2007 to 2018, relieving customers of an additional P0.25 per kilowatt-hour (kWh) charge in their electricity bills.

Murang Kuryente subsidy to take effect next year

THE Power Sector Assets & Liabilities Management Corp.(PSALM) said the government’s subsidy for some universal charges will take effect next year, removing some of the cost from electricity bills.

PSALM wins approval to seek P43-B loan from DBP

THE Power Sector Assets and Liabilities Management (PSALM) Corp. has won approval to seek a P43-billion loan from the Development Bank of the Philippines (DBP), saying that despite “setbacks” encountered during quarantine, it does not expect to default on any of its obligations.

PSALM hands over P46M to LGUs to lower power rates

GOVERNMENT-LED Power Sector Assets and Liabilities Management Corp. (PSALM) on Thursday said it remitted its quarterly share in the national wealth to local government units (LGU) hosting renewable power plants to bring down electricity costs.

PSALM provides grace period, staggered fees for energy sector

THE GOVERNMENT-owned Power Sector Assets and Liabilities Management Corp. (PSALM) is providing power stakeholders with a grace period of paying their fees which due dates fall during the period of the enhanced community quarantine (ECQ), as well as it is allowing them to pay their dues in installments in the next four billing months.

PSALM raises power capacities of two electric utilities in Mindanao

State-led Power Sector Assets and Liabilities Management Corp. (PSALM) allotted more power capacities to two rural electric utilities in Mindanao to ensure a steady supply in their service areas under enhanced community quarantine (ECQ) to contain the coronavirus disease 2019 (COVID-19) pandemic.

PSALM defers bills payment

THE Power Sector Assets and Liabilities Management Corp. (PSALM) has given entities in the power sector more time to pay their bills as it announced on Friday a due date of up to 30 days from the end of the Luzon-wide lockdown period on April 14.

PSALM studies SMC prepay offer

THE government is considering the offer of San Miguel Corp. (SMC) subsidiary South Premiere Power Corp. (SPPC) to pay in advance its obligations for administering a 1,200-megawatt power plant in Batangas.

PSALM refutes SMC claim about non-billing of nearly P24B payables

STATE-LED Power Sector Assets and Liabilities Management Corp. (PSALM) has refuted the claim of San Miguel Corp. (SMC) that it has not been billed by the agency for a subsidiary’s supposed P23.94 billion payables, saying it has proof showing receipt of demand letters.

PSALM says overdue receivables hit P95 billion

THE Power Sector Assets and Liabilities Management Corp. (PSALM) reported on Wednesday that it had accumulated a total of P95.42 billion of overdue receivables in 2019 from electricity distribution companies and electric cooperatives.

New round of bidding set for Malaya power plant

A THIRD round of public bidding has been set for the 650-megawatt (MW) Malaya thermal power plant in Rizal, the state agency tasked to privatize government energy assets said on Friday, after previous rounds resulted in failed bids.

4 firms eyeing Malaya plant — PSALM

FOUR companies expressed interest in participating in the auction for the 650-megawatt Malaya Thermal Power Plant (MTPP) and its underlying land in Pililia, Rizal, according to the Power Sector Asset and Liabilities Management Corporation (PSALM).

PSALM to rebid Malaya plant

THE POWER Sector Assets and Liabilities Management Corp. (PSALM) will rebid the structures, plant equipment and underlying land of the 650-megawatt Malaya thermal power plant in Pililla, Rizal after only one bidder submitted an offer, the agency said on Wednesday.

PSALM announces sale of Laoag City site, sets P70.6-M minimum bid

POWER Sector Assets and Liabilities Management Corp. (PSALM) is selling a property in Ilocos Norte where a diesel-fired power plant used to stand, as the agency continues to look for ways to monetize idle assets.

SC rules PSALM’s sale of power assets not subject to VAT

THE Supreme Court (SC) ruled the Power Sector Asset and Liabilities Management Corp. (PSALM) is not liable to pay P9.57 billion in value-added taxes (VAT) assessed by the Bureau of Internal Revenue (BIR) on the sale of its power generating assets.

PSALM to auction off two power plant properties

TWO state-owned facilities in Misamis Oriental and Cebu are being auctioned off by the Power Sector Assets and Liabilities Management Corp. (PSALM).

CoA rules in favor of SMPC on dispute with PSALM

SEMIRARA Mining and Power Corp. (SMPC) expects to sit down with the Power Sector Assets and Liabilities Management Corp. (PSALM) to settle its money claim against the agency, after the Commission on Audit (CoA) ruled in favor of the Consunji-led company, company officials said.

PSALM sets April deadline for HQ redevelopment submissions

THE Power Sector Assets and Liabilities Management Corp. (PSALM) said it set a new deadline fora design competition for the redevelopment of its Quezon City compound.

PSALM incurs additional P40-B cost on forex losses, rising rates

STATE-LED Power Sector Assets and Liabilities Management Corp. (PSALM) placed at nearly P40 billion the additional cost it incurred in 2018 from its debts due to the depreciation of the peso and the rise in interest rate, a company official said.

PSALM bids out MTPP property in Manila

THE Power Sector Assets and Liabilities Management Corp. (PSALM) is once again bidding out the property of Manila Thermal Power Plant (MTPP) located along the Pasig River in Isla de Provisor, Paco Manila.

PSALM: 4 companies submit bids for Malaya plant

STATE-LED Power Sector Assets and Liabilities Management Corp. (PSALM) has received four proposals for the 650-megawatt (MW) Malaya thermal power plant in Rizal that serves as the government’s back up facility to ensure power supply stability.

PSALM planning to rebid Manila property after last week’s failed auction

STATE-LED POWER SECTOR Assets and Liabilities Management Corp. (PSALM) will rebid a parcel of land in Manila where a thermal power plant used to stand after the agency failed to attract bidders.

PSALM to rebid P886-million Manila thermal plant

Power Sector Assets and Liabilities Management Corp. (PSALM) will rebid a thermal power plant in Manila that it valued at around P886 million after...

PSALM preparing master plan for properties in Quezon City, Bagac

STATE-LED Power Sector Assets and Liabilities Management Corp. (PSALM) is preparing a master plan for two properties, including the lot on which the National Power Corp. (Napocor) holds office, to maximize the gains on the assets.

PSALM denies blaming ERC for interest costs incurred

POWER Sector Assets and Liabilities Management Corp. (PSALM) said it is not blaming the Energy Regulatory Commission (ERC) for the interest cost it incurred in securing funding to pay maturing debt.

PSALM clarifies issue on maturing debts

Power Sector Assets and Liabilities Management Corp. (PSALM) said it was not blaming the Energy Regulatory Commission (ERC) for the interest cost it incurred...

San Miguel calls out PSALM over alleged unpaid obligations

San Miguel Corp. (SMC) said state agency Power Sector Assets and Liabilities Management Corp. (PSALM) had gained $631 million from the $5.28 billion paid...

SPC downplays impact of Naga power plant turnover

SPC Power Corp. has downplayed the impact on the company of the recent turnover of a power plant complex in Naga City, Cebu to...

SPC turns over Naga power plant complex to PSALM

SPC Power Corp. has turned over the 153.1-megawatt (MW) gas turbine power plant in Naga, Cebu to the Power Sector Assets Liabilities Management, Inc....

Pilipinas Shell, Phoenix Petroleum win supply bid for two power plants

The Power Sector Assets and Liabilities Management Corp. (PSALM) selected Pilipinas Shell Petroleum Corp and Phoenix Petroleum Philippines, Inc. as the winning bidders for...

PSALM approves P264-million contract to maintain Malaya plant

Power Sector Assets and Liabilities Management Corp. (PSALM) has approved a budget of P264 million for the a one-year contract to operate and maintain...