By:
Ronnel W. Domingo - 05:32 AM September 22, 2017
The San Miguel group
insists it has no outstanding debts to the Power Sector Assets and Liabilities
Management Corp. related to the Ilijan power plant in Batangas, saying it
“religiously pays” its dues.
San Miguel president
Ramon S. Ang said in a briefing yesterday that South Premiere Power Corp.
(SPPC), a wholly owned subsidiary of SMC Global Power Corp., has as of August
paid PSALM a total of P238 billion in various fees for the 1,200-megawatt
combined cycle Ilijan plant.
Ang was reacting to
reports that the Department of Energy (DoE) was asking SPPC to honor its
contractual obligation to the government as the administrator of the power
plant, by way of an administration agreement struck in 2010.
Ang said that of SPPC’s
total payments to PSALM so far, P187 billion was for energy fees while P51
billion accounted for capacity fees.
Ang said that as SPPC
“continues to honor its contractual obligations, the company would pay PSALM a
total of P384 billion by 2022, of which P287 billion is for energy fees and P97
billion for capacity fees.
But Ang said that based
on PSALM’s computation, SPCC should shell out an additional P10 billion.
This, he said, was
based on PSALM’s insistence that Ilijan should have sold electricity through
the wholesale electricity spot market, where prices spiked in November and
December of 2013.
The San Miguel
president said such high prices — reaching as high as P15.56 a kilowatt-hour —
were a fluke.
Spot prices have since
gone down to less than P3 a kwh.
No comments:
Post a Comment