Power Sector Assets and Liabilities Management Corp. will go after independent power producer administrators with delinquent accounts totaling P33.62 billion.
Finance Secretary Carlos Dominguez III instructed PSALM to pursue all legal remedies to compel the IPPAs to pay at once.
Following its stepped-up collection drive in response to Dominguez’s directive, Finance Undersecretary Bayani Agabin said PSALM collected a combined P70.41 billion from several IPPAs last year,
San Miguel Corp.’s South Premiere Power Corp., which administers the capacity of the Ilijan gas-fired power plant in Batangas City, has the highest unpaid account in the sum of P23.94 billion as of Dec. 31, 2019.
SPPC is asserting another formula for computing payables to PSALM in a pending case before the RTC of Mandaluyong City. The case is pending since September 2015.
Agabin said Dominguez, who is PSALM chairman, had directed PSALM to immediately initiate collection cases against the IPPAs of the Unified Leyte Strips of Energy in Tongonan, Leyte, especially Good Friends Hydro Resources Corp. of Fernando Borja and the Waterfront Mactan Casino Hotel Inc. of businessman William Gatchalian that have delinquent accounts with PSALM. Julito G. Rada