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Page 2 - பொறுப்புகள் மேலாண்மை நிறுவனம் News Today : Breaking News, Live Updates & Top Stories | Vimarsana

SMC unit trims payables to PSALM to P21 87 B

Published July 19, 2021, 2:10 PM The receivables of state-run Power Sector Assets and Liabilities Management Corporation (PSALM) from a subsidiary-company of San Miguel Corporation for the capacity payments of the 1,200-megawatt Ilijan gas-fired power plant had been pared to P21.871 billion, as stipulated in the company’s 2020 audited financial statement recently issued by the Commission of Audit. That scale of receivables of the government-run firm from South Premiere Power Corporation (SPPC), a subsidiary of SMC Global Power Holdings Corp., had been pared from P27.308 billion in 2019. Because of the reduced receivables of PSALM from SPPC, it was shown that the overall collections the state-run firm has been pursuing from Independent Power Producers (IPPs) as well as with the IPP Administrators (IPPAs) had already been down to P25.720 billion as of end-December 2020; or roughly P7.0 billion lower from P32.504 billion in the previous year.

Former DOE official is anticipated as next PEMC president

Published July 7, 2021, 1:47 PM An official of the Department of Energy (DOE), who reportedly resigned recently from his post, is well anticipated by power industry players as the next president of the Philippine Electricity Market Corporation (PEMC), which is the governance body of the Wholesale Electricity Spot Market (WESM). That expectation, according to highly placed industry sources, was intensified after the July 1 nomination of former DOE Assistant Secretary Leonido J. Pulido III as independent director of the PEM Board. The election of the next president will be from the roll of elected directors into the board of PEMC – and the voting is tentatively targeted by July 12 this year.

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