PSALM defers bid for Naga plant contract

MANILA, Philippines - The Power Sector Assets and Liabilities Management Corp. (PSALM) has decided to postpone the bidding of the Naga coal-fired power plant’s contracted capacity scheduled today (Aug. 18).

“Yes, (this is due) to the bidders’ request,” Energy Secretary Jose Rene Almendras said.

He said PSALM has not yet determined the new date for the bidding of the Naga contracts.

Three power firms were earlier reported to have signified keen interest to join the bidding of Naga’s contracted capacity. These are Salcon Power Corp., SM Energy Corp. and Pacifica.

For his part, PSALM vice president for electricity trading Conrad Tolentino said the bidders have requested for more time to study the new terms of the bidding.

Tolentino, however, declined to give details of the new terms.

Upon appointment, the Naga complex administrator will manage the Naga contracted capacity, which is the aggregate of the contracted output of the 39-megawatt (MW) Cebu diesel power plant 1 and the Cebu 1 and 2 coal power plant complexes, with a total installed capacity of 110 MW.

PSALM is the agency mandated by the Electric Power Industry Reform Act of 2001 to privatize at least 70 percent of National Power Corp.’s power plants and its contracts with third-party power generators.