The Power Sector Assets and Liabilities Management Corp. (PSALM) delivered a total of 5,762.07 gigawatt hours to 48 power customers in Mindanao, 28 of which were prompt payors in 2015, the agency said.
In a statement on Thursday, PSALM said it grossed P16.24 billion in power sales with total discounts extended by the agency reaching P0.37 billion.
PSALM allows prompt payors to enjoy a three percent outright discount on their monthly bills to encourage other customers to observe early payments.
PSALM is a major power supplier in Mindanao.
The government agency’s existing power contracts in Mindanao cover 49 customers in the region, requiring a total of 6,648 megawatts of energy capacity.
The majority of power customers in Mindanao composed of electric cooperatives (ECs), private utilities, industries, and government agencies obtain their power requirements from PSALM, PSALM Officer-in-Charge Lourdes Alzona said.
“We will continue to service our customers while in the process of completing the privatization program. In fact, the entire dependable capacity of PSALM’s remaining plants in Mindanao is allocated to them,” Alzona said.
PSALM offers a restructuring program to assist power customers experiencing financial difficulties by offering a gradual payment scheme to settle their unpaid power bills including their overdue obligations to avoid disconnection from the grid.
Alzona said that despite delayed payments attributed to many factors, PSALM keeps supplying the energy requirements of these customers.
“Imbued with social responsibility, our mandate is to help energize particularly the underserved franchise areas of electric cooperatives despite their ballooning unpaid power bills and overdue obligations,” she said.
Currently, PSALM sources energy from its remaining generating assets namely Power Barge 104, Agus I, II, IV to VII and Pulangi Hydroelectric Power Plants and from Independent Power Producer (IPP) plant namely Mindanao Coal-Fired Power Plant.