PSALM seeks to recover P27.7 B

The Power Sector Assets and Liabilities Management Corp. (PSALM) is seeking regulatory approval for power rate adjustments to cover the stranded debt of the National Power Corp. (Napocor) as well as the fuel and foreign exchange costs incurred last year.

In its first filing, PSALM wants to recover P27.67 billion worth of stranded debt of Napocor in 2015 to end-users across the country through the universal charge (UC).

It proposed to recover the said amount in 9.5 years, equivalent to an additional UC-stranded debt (UC-SD) rate of P0.0283 (2.83 centavos) per kilowatt-hour (kwh).

In another filing, PSALM is seeking approval for a refund of P69.47 million to Luzon customers, a recovery of P161.74 million from Visayas end-users and a refund of P2.11 billion to Mindanao consumers under its application for Adjustments of Fuel and Purchased Power Costs and Foreign Exchange covering the 2015 period.

The adjustment, which will be for one year, is equivalent to a rate decrease of P1.70 per kwh in Luzon, an increase of P0.44 per kwh in Visayas and a decline of P0.37 per kWh in Visayas.

Read more here.


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