The Power Sector Assets and Liabilities Management Corp. (PSALM) remitted P377.51 million to communities hosting its power facilities in 2024, delivering vital support through government-mandated benefit programs.
In a statement, the state-run firm said the remittance includes P135.8 million under the Energy Regulations (ER) 1-94 program and P241.71 million from the share in the national wealth (SNW). The funds directly support local governments and communities affected by or hosting energy infrastructure.
Under ER 1-94, energy firms are required to contribute P0.01 per kilowatt-hour of electricity sales to fund local projects in electrification, health, livelihood, and environmental protection. The SNW share, mandated by the Local Government Code, extends to LGUs 1 percent of gross receipts from power operations as compensation for the exploitation of local natural resources.
Despite the PSALM mandate to privatize government power assets, at least three power plants remain under its management, entitling their host areas to continued remittances. These funds are expected to help improve infrastructure and services in affected communities.
As of March 2025, the PSALM’s total financial obligations stand at P262.67 billion—a legacy of its role in managing and liquidating the debts of the former National Power Corp.
