DOE: PSALM extension vital for PH energy goals

The Department of Energy (DOE) lauded the 10-year extension granted to the Power Sector Assets and Liabilities Management Corp. (PSALM), a move that will enable the state-run enterprise to fulfill its remaining obligations.

- BY GABRIELL CHRISTEL GALANG

Energy Secretary Raphael P.M. Lotilla said in a statement that PSALM's extension, formalized through Republic Act No. 12179, took effect last April 18.

"The enactment of RA 12179 ensures that PSALM can continue and complete its mandate to privatize its remaining assets," he stated.

This extension of PSALM's corporate life will also facilitate the much-needed rehabilitation of the Agus-Pulangi hydropower complex (APHC).