Published
By Myrna M. Velasco
State-run Power Sector Assets and Liabilities Management Corporation (PSALM) has
logged ₱4.82 billion worth of ‘deferred collections’ because of the
government’s enforcement of enhanced community quarantine (ECQ) to help stem
the spread of coronavirus infections in the country.
The initial
calculations though just covered March and April billings; and the total amount
uncollected in May has yet to be firmed up.
The government-owned
company has reported to the Joint Congressional Energy Commission (JCEC) that
its estimated deferred revenue collections in March hovered at ₱1.254 billion;
and it had been higher at ₱3.566 billion in April. The company said it issued
three extension due dates to its customers; and the advisory posits that the
uncollected amounts from March 16 to May billings shall be without interests
and penalties.
It qualified that its
‘deferred collections policy’ had been applicable only to those PSALM power
customers that are “operating in NCR and in high risk areas in Luzon, Visayas
and Mindanao,” that had been covered by the ECQ impositions of the State.
The temporarily suspended collections also covered remittances of universal
charges (UCs) being collected by the distribution utilities and other entities
that have direct dealing with customers.
The government-run firm
similarly advised its independent power producer administrators (IPPAs) of the
same payment deferment on the power supply contracts that they had been
administering on behalf of PSALM – but with some conditions.
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