Sual and Pagbilao power plants administration, officially turned over by PSALM
Posted on November 11th, 2009
The administration of the contracted capacities of National Power Corp. (NPC) in the coal-fired Sual and Pagbilao power plants were officially turned over by the Power Sector Assets and Liabilities Management Corp. (PSALM) to their new independent power producer administrators (IPPAs), San Miguel Energy Corp. (SMEC) and Therma Luzon Inc., respectively.
SMEC and Therma won the bid to become the independent power producer (IPP) administrators for Sual and Pagbilao, respectively in bidding conducted by PSALM last August 28. This is the second round of bidding for the appointment of IPPAs to administer the contracted capacities of Napocor in the Sual and the Pagbilao power facilities.
The two power plants has an aggregate 1,700 megawatt (MW) contracted capacities, representing around 34.7 percent of the contracted capacity of the IPP contracts for Luzon and the Visayas.
The PSALM turned over the management of the contracted capacity of the Sual power plant at 12 midnight of November 6, 2009 in Pangasinan after a meter reading of the power generation and an inventory of the coal and oil supply as stipulated in the administration agreement.
The meter reading was held to verify the quantity of electricity delivered by the IPP to the grid reckoned from the time SMEC, as administrator, took over the management of the of the contracted capacity of the Sual facility.
While the Pagbilao power plant in Quezon was turned over to Therma on 12 midnight of October 1, 2009 following the same procedure.
The turning over of the administration of both power plants were witnessed by officials and representatives from the National Grid Corporation of the Philippines, SMEC for Sual, Therma Luzon for Pagbilao, Napocor and PSALM.
