CBK privatization to push through in April

The auction for the privatization of a massive hydropower complex in Laguna has been moved to April this year, with the delay blamed on the earlier suspension of the country's chief energy regulator.

- By Brix Lelis

The 797-megawatt (MW) Caliraya-Botocan-Kalayaan (CBK) hydro complex was intended to be the flagship privatization project of Power Sector Assets and Liabilities Management Corp. (PSALM) last year.

However, the privatization was stalled while awaiting the Energy Regulatory Commission's (ERC) issuance of the pricing scheme for the third green energy auction (GEA-3), according to Energy Secretary Raphael Lotilla.

"The only reason why it has been delayed is that the price determination methodology was supposed to have already been acted upon by the ERC in October, but Chairman (Monalisa) Dimalanta was suspended by the Ombudsman," Lotilla said.