Accounting for the inflows and outflows of the UC fund leaves it with a balance of about PhP0.468 billion as of 31 May 2016.
For the period November, 2015 to May, 2016, PSALM received Php13.945 billion in UC remittances broken down as follows:
UC Remittances to PSALM for the period November 2015 to May 2016 (In Php Billion)
Month
|
UC-ME
(NPC-SPUG)
|
UC-ME
(REDCI)
|
UC – EWR
|
UC - SCC
|
Total/Month
|
November
|
0.906*
|
0.010*
|
0.015
|
1.142
|
2.073
|
December
|
0.844
|
0.010
|
0.013*
|
1.048
|
1.915
|
January
|
0.917
|
0.010
|
0.015
|
1.145
|
2.087
|
February
|
0.858
|
0.009*
|
0.014
|
1.075
|
1.956
|
March
|
0.826
|
0.009
|
0.013
|
1.031
|
1.879
|
April
|
0.904
|
0.010
|
0.015
|
1.126
|
2.055
|
May
|
0.870
|
0.010
|
0.014
|
1.086
|
1.980
|
Total
|
6.125
|
0.068
|
0.099
|
7.653
|
13.945
|
Source:
PSALM * Difference of .001 with previous reports was due to rounding off
c. Disbursements for CY 2016For the period November, 2015 to May, 2016, PSALM disbursed a total amount of Php13.810 billion to UC beneficiaries as follows:
UC Disbursements of PSALM for the Period November
2015 – May 2016 (in Php Billion)Month
|
ME
(NPC-SPUG)
|
ME (REDCI)
|
UC-SCC1/
|
Total/Month
|
November 2015
|
0.906*
|
0.003
|
1.143
|
2.052
|
December 2015
|
0.834
|
-
|
1.036
|
1.870
|
January
|
0.925
|
-
|
1.151
|
2.076
|
February
|
0.857
|
0.002
|
1.075
|
1.934
|
March
|
0.823
|
0.006
|
1.026
|
1.855
|
April
|
0.915
|
0.004
|
1.149
|
2.068
|
May
|
0.872
|
0.007
|
1.076
|
1.955
|
Total
|
6.132
|
0.022
|
7.656
|
13.810
|
For the period January to May 2016, PSALM disbursed PhP4.392 billion to NPC-SPUG to fund missionary electrification functions, chargeable against the UC-ME fund. This is pursuant to the following ERC Decisions/Orders:
Date
|
Particulars
|
ERC Case No.
|
12 August 2013
|
ERC Decision on CY 2011 True-up Adjustments
(PhP4.651 billion)
|
2012-085 RC
|
10 October 2013
|
ERC Decision on CY 2010 True-up Adjustments
(PhP2.566 billion)
|
2012-046 RC
|
03 November 2013 & 17 August 2015
|
ERC Order on CY 2015 UC-ME Subsidy
|
2014-135 RC
|
20 April 2015
|
ERC Order on CY 2014 UC-ME Subsidy (PhP2.763
billion)
|
2012-85
|
In accordance with the ERC decision dated 28 January 2013 under Case No. 2011-091 RC, the amount of PhP5.477 billion was transferred from the UC-SCC STF to the UC-SCC SFA for the period January to May 2016.
d. ERC Approved UC RatesThe table below shows the ERC-approved UC rates being implemented as of 31 May 2016:
Type of UC
|
PhP/kWh
|
UC-ME
|
0.1561
|
UC-EC
|
0.0025
|
UC-SCC
|
0.1938
|
Total
|
0.3524
|
c) SPEX/Malampaya Arbitration:STATEMENT: The Department of Energy’s thrust is to take a nationalistic approach, which requires a unified stand by the various agencies of government involved to protect the rights and interests of Filipinos.
DETAILS:
Updates on COA (Commission Proper, Local Proceedings):
· Pending resolution of the Motion for Reconsideration filed by SPEX & Chevron.
· COA held hearings on June 7 and 27, 2016, in which SPEX and Chevron presented additional documents and witnesses, including former PM Cesar Virata, former DOE Sec. Raphael Lotilla, and former DOE Undersecretary Rufino Bomasang.
· SPEX and Chevron filed their Memorandum on 04 July 2016.
Updates on International Chamber of Commerce Arbitration (Venue: Singapore)
· The GRP challenged the jurisdiction of the ICC tribunal.
· May 2016 - ICC Tribunal decided to first hear the jurisdictional issues and will hold hearings thereon in November 2016.
Updates on International Centre for the Settlement of Investment Disputes Arbitration (Venue: Washington, USA)
· June 27,2016 – SPEX filed the Request for Arbitration (RFA)
· June 28, 2016 – ICSID acknowledged receipt of the RFA and notified the Office of the Solicitor General and the PH Embassy in Washington DC about said filing of the RFA.
· July 20, 2016 – ICSID registered the RFA.
d) Agus-Pulangui Privatization Stand per Conversation with Electric Coops:
e) DOE Discussion with PSALM/Department of Finance on Continuing Privatization of Power Assets:
STATEMENT (d/e): The Department of Energy anchors its directions on the merits of the EPIRA. For Malaya Thermal, it is targeted to be bid out by 2018. The DOE will consult the legislative body on privatizing the Agus & Pulangi Hydro Complexes.
Meanwhile, the sale of Bataan Thermal and Bataan Gas Turbines is still pending subject to the resolution of the court involving their assets.
DETAILS:
Indicative Privatization Schedule
Schedule of Privatization for Generating Assets as of 30 June 2016
Asset Type/
Plant Name
|
Rated Capacity (MW)
|
Bid Date
|
Turnover Date
|
Owned Generating Plants
|
Malaya Thermal
|
650.00
|
1st Semester
2018
|
2nd Semester
2018
|
Agus 1 & 2 Hydro
|
260.00
|
2017
Subject to consultation with
Congress as provided under the EPIRA
|
Agus 4 & 5 Hydro
|
213.10
|
Agus 6 & 7 Hydro
|
254.00
|
Pulangui Hydro
|
255.00
|
Decommissioned Plants
|
Sucat Thermal
|
850.00
|
2nd Semester
2016
|
2nd Semester
2016
|
Bataan Thermal
|
175.00
|
Sale/disposal is subject to
resolution of court cases involving the asset
|
Bataan Gas Turbines
|
120.00
|
|
|
|
|
|
Source:
PSALM
PSALM requested DOE for “no objection” on the transfer of ownership and physical possession of PB 104 to SPC Island Corporation (SIPC) relative to its privatization. The DOE in its memorandum dated 27 June 2016 advised PSALM that it does not object to the said transfer of PB 104 to SIPC in line with the agreements reached during the 22 December 2015 PSALM Board Meeting.
f) DOE Direction for NEA on Continuing Mess at Albay Electric Cooperative:STATEMENT: The Department of Energy (DOE) will continue to closely monitor the concerns of ailing distribution utilities/electric cooperatives to finally resolve their financial obligations and help them improve their operations. Coordination with PEMC is continuing.
DETAILS:
1. Financial and Operational ParametersNEA classified ALECO in 2015 as one of the ailing ECs based on the following financial & operational parameters which are not complied with under RA 10531 guidelines, as per its latest submission of data on April 30, 2016:
· Insufficient Cash General Fund to cover the one month working capital for power and non-power cost;
· The EC’s collection efficiency is only 84.43% which is below the 95% standard of NEA;
· The EC posted a net margin of Php 8.529 million;
· The EC’s networth is negative Php76.254 million, its liabilities is almost Php2.731 billion;
· The EC posted a systems loss of 20.46% which is higher than the 13% systems loss cap.
2) Financial Status (Payables)
· ALECO has a total of Php1,161.884 million power payables:
Agency
|
Amount (Php’000)
|
|
APRI
|
Php 29.400 Million
|
As of June 30, 2016
|
PEMC - Current
- Arrears
TOTAL
|
Php 124.907 Million
Php 982.844 Million
PhP 1,107.751 Million
|
As of July, 2016
|
PSALM
|
Php 2.320 Million
|
As of April 30, 2016
|
NGCP
|
Php 22.413M
|
As of June 30, 2016
|
As of March 11, 2016, ALECO’s Operations Manager, Mr. Balgemino informed DOE that the Concession Agreement is sufficient for PEMC to defer the payment arrears amounting to PhP 1.240 billion. Mr. Balgemino also informed DOE that the Concession Agreement is sufficient for PEMC to know that APEC is now taking care of the business of ALECO. On APEC’s current arrears in the amount of PhP78.678 million, APEC sent a request for restructuring of their current power payables with payment terms of twelve months starting March 15, 2016 on top of their current bills.
Renewable Energya) Additional Approval on 2nd wave of Feed-in Tariff for Solar:STATEMENT: The Technical Audit teams will assist us in deciding on the area and the rate to be considered in hosting renewable energy (RE) projects.
The area, meaning Luzon, Visayas, and Mindanao, can even include specific islands that can accommodate more RE projects and consider an energy mix of baseload, mid-merit and peaking plants. The rates will be evaluated so that these will result in minimal cost to consumers.