04 Aug Energy Secretary Cusi Says Agus-Pulangui Hydropower Complex Better Kept Under Government Ownership
It was when the Power Sector Assets and Liabilities Management Corporation (PSALM) manifested the privatization plan they will be pursuing for the remaining assets of the National Power Corporation (NPC) that Energy Secretary Alfonso G. Cusi sounded off his discretion, mentioning that that Agus-Pulangui hydropower complex should be kept under government ownership given the level of positive earnings it has been bringing to the coffers of the State.
However, the Department of Finance has a different opinion with regards to the said facility, It also wants PSALM to fully execute its mandate of seizing all of NPC’s remaining power assets.
“When Secretary Cusi had seen that Agus-Pulangui’s financial results have been positive over the years, he thought that it might be better to retain the assets as government rather than privatize them,” said PSALM Officer-in-Charge Lourdes S. Alzona who admitted that the separate views of the said two relevant agencies would be something that would have to consider at some point in time.
The divestment plan for the Agus-Pulangui complex will be set next year as provided by the DOE to media based on the privatization timeline, and is “subject to consultation with Congress” as ordered under the Electric Power Industry Reform Act.
Meanwhile, DOE has an alternative proposal which is to propound Mindanao Power Corporation, a government-controlled firm which will then manage the asset and make the source of power cheap for Mindanao customers.
Source: www.mb.com.ph
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