LISTED SAN Miguel Corp. (SMC) has paid $6.19 billion (P289.1 billion) in fees to state-run Power Sector Assets and Liabilities Management Corp. (Psalm) as of end-April for operating the Ilijan power plant in Batangas province.
In a statement last Friday, the conglomerate said the amount paid — P222.4 billion in energy fees and P66.66 billion in capacity fees — was part of its contractual obligation to run the 1,200-megawatt (MW) facility through
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