DoE extends deadline for payables due to PSALM

March 24, 2020
https://www.manilatimes.net/2020/03/24/business/doe-extends-deadline-for-payables-due-to-psalm/705331/

THE Department of Energy (DoE) has issued a memorandum saying all payables to the Power Sector Assets and Liabilities Management Corp. (Psalm) whose due date fall during the “enhanced community quarantine” period have been given an extension of 30 days. Signed by Energy Secretary Alfonso Cusi, the memorandum says that payments due to the state-run corporation with due date falling between March 15 and April 14 are covered by the extension. These cover independent power producer administrator payments for both capacity and energy payments; universal charges, such as stranded contract costs, stranded debts, missionary electrification and environmental charge for watershed rehabilitation and management; and payment of the distribution utilities for deferred generation rate adjustment mechanism and incremental currency exchange rate adjustment. It also covers disputes regarding the settlement of any of the accounts payable between the aforementioned dates.