State-run Power Sector Assets and Liabilities Management Corp. has resumed distribution of compensation checks to individuals, families, and enterprises who were affected by the Power Barge 103 Oil Spill at the height of Super Typhoon “Yolanda” almost six years ago.
The 32-megawatt PB 103 was then moored at Barangay Botongon in the Municipality of Estancia, Iloilo when it was swept aground due to strong winds and storm surge during the onslaught of Supertyphoon Yolanda on Nov. 8, 2013.
PSALM said in a statement 23 out of the 26 beneficiaries, hailing mostly from Barangay Botongon and Poblacion Zone I, form part of the sixth and latest batch of claimants where PSALM paid a total of P340,428 worth of indemnities.
Beneficiaries who were not yet able to claim their checks may coordinate with PSALM.
PSALM’s settlement of third-party claims is based on the recommendation of the Government Service Insurance System adjuster, Claims Services International Adjusting Co., and endorsement of GSIS. Alena Mae S. Flores
To date, a total of P7.8 million has already been settled and released to the first to sixth batch of claimants.
Immediately after the incident, PSALM has provided financial aid amounting to P2 million to Iloilo families affected by the oil spill through the provincial and municipal government.
PSALM, the agency tasked to manage the assets of National Power Corp. under the Electric Power Industry Reform Act of 2001, has since privatized PB 103 to Phinma Energy Corp. (formerly Trans-Asia Oil and Energy Corp.) including PB 101 and 102.