Power privatization program still attractive, says PSALM

MANILA, Philippines- The state firm in-charge of selling government power plants believes investors are still keen on its power privatization program as interested parties attended pre-bid conferences in September for generation assets to be auctioned before the year ends. A total of 15 potential investor groups attended three different pre-bid conferences for five state power assets: the 146.5-megawatt (MW) Panay power plant, the 22-MW Bohol complex, the mothballed 108-MW Aplaya power plant, a 22.3-megawatt facility in General Santos, and the 0.8MW Amlan hydroelectric power plant, the Power Sector Assets and Liabilities Management (PSALM) Corp. said. Three investor groups, down from five as disclosed earlier by then PSALM vice-president for asset management Froilan A. Tampinco, attended the second round of bidding for the Amlan plant held Tuesday. Seven interested parties attended the pre-bid conference for the sale of the decommissioned Aplaya-General Santos diesel power plant package last Friday. Meanwhile, the pre-bid conference for the resale of the Panay-Bohol diesel power complex held Thursday was attended by five investor groups. This was down from six investors that submitted letters of interest. The decommissioned Aplaya-General Santos and the Panay-Bohol and Amlan power facilities are the remaining assets in PSALM’s auction list this year. PSALM will bid out the Panay-Bohol power plant package on Nov. 12 and the Aplaya-General Santos power complex on Nov. 14. Bidding for the Amlan facility was set for Dec. 10. The Panay-Bohol and Amlan plants will put the privatization level at 72%, above the target before the government can implement retail power competition as mandated by the Electric Power Industry Reform Act of 2001. - BusinessWorld