PSALM allowed to recover P21.47b

The Energy Regulatory Commission allowed Power Sector Assets and Liabilities Management Corp. to recover cost adjustments on fuel, purchased power and foreign exchange-related costs incurred in the operation of its power plants from 2007 to 2014 in the amount of P21.47 billion.

“The infusion of P21.47 billion approved cost recoveries spanning five years will in part address funding requirements for the servicing of PSALM’s maturing debts, which is fitting considering that costs being recovered were funded from financial obligations during the said test periods,” PSALM said.

The ERC, in two separate orders dated June 20, allowed PSALM to recover the  incurred costs in the total amount of P21.47 billion.