Consultations set on power asset sales
Business World, Thursday, December 30, 2004
Energy officials and members of the Joint Congressional Power Commission (JCPC) have agreed to conduct monthly consultations on the sale of state-owned generation and transmission assets.
National Transmission Corporation (Transco) President Alan T. Ortiz said "There should be more exchange of information from the Energy family. We agreed on a once a month schedule of meeting," he said.
He said the JCPC will not approve or reject any privatization initiative since its task is to oversee the implementation of the Electric Power Industry Reform Act (EPIRA).
Rep. Alipio Cirilo V. Badelles, head of the House of Representatives JCPC panel, has criticized the Energy department and the Power Sector Assets and Liabilities Management Corp. (PSALM) for failing to consult the commission.
PSALM is the government firm mandated by law to oversee the privatization of generation and transmission assets owned by National Power Corp.
Last month, the JCPC criticized a Justice department opinion allowing PSALM to amend the privatization plan for Transco without consulting the JCPC.
The Justice department opined that there is no need for PSALM to secure JCPC endorsement, which Mr. Badelles said renders the oversight function of the JCPC useless.
The commission also asked the Department of Energy to explain why the oversight body was not consulted when the schedule for the sale of Napocor's power plants was revised.
Energy officials and members of the Joint Congressional Power Commission (JCPC) have agreed to conduct monthly consultations on the sale of state-owned generation and transmission assets.
National Transmission Corporation (Transco) President Alan T. Ortiz said "There should be more exchange of information from the Energy family. We agreed on a once a month schedule of meeting," he said.
He said the JCPC will not approve or reject any privatization initiative since its task is to oversee the implementation of the Electric Power Industry Reform Act (EPIRA).
Rep. Alipio Cirilo V. Badelles, head of the House of Representatives JCPC panel, has criticized the Energy department and the Power Sector Assets and Liabilities Management Corp. (PSALM) for failing to consult the commission.
PSALM is the government firm mandated by law to oversee the privatization of generation and transmission assets owned by National Power Corp.
Last month, the JCPC criticized a Justice department opinion allowing PSALM to amend the privatization plan for Transco without consulting the JCPC.
The Justice department opined that there is no need for PSALM to secure JCPC endorsement, which Mr. Badelles said renders the oversight function of the JCPC useless.
The commission also asked the Department of Energy to explain why the oversight body was not consulted when the schedule for the sale of Napocor's power plants was revised.
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