The private sector has proposed selling the output of the Agus-Pulangi hydroelectric plants in Mindanao instead of privatizing the assets.
“Perhaps they [Power Sector Assets and Liablities Management Corp.] could look at alternative forms of privatization. Maybe we should look at privatizing not the asset, but the future output that will come out of these plants,” Joseph Nocos, vice president for business development of Sarangani Energy Corp., told reporters over the weekend. The company is a member of the Alcantara group of companies.
He said the Agus-Pulangi privatization could be done similar to the concept of the independent power plant administrator.
“This approach addresses other concerns Mindanaoans have over the sale of the Agus-Pulangi privatization, which is giving up our patrimony over this vital natural resource that we have. So if you just privatize the output, you keep ownership of the asset in the hands of Napocor or PSALM,” he said.
Nocos said PSALM could still have the option to bid out the operation and maintenance of the plant without selling the asset.
He said the utilization factor of the Agus-Pulangi plants could be forecast and the total kilowatt-hours available from the assets over the long term could be sold to interested parties.
Nocos said that since the plants were cascading, selling them an individual basis would likely create operational problems.
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