SMC unit claims $6.19-B payment for Ilijan plant 0 SHARES Share it! SPPC issued this statement to dispute the P19.5 billion claims recently reported by PSALM to Finance Secretary Carlos G. Dominguez III, the company’s board chairman. SPPC is the IPPA for the privatized Ilijan power facility. The build-operate-transfer (BOT) contract for the Ilijan plant will lapse in 2022; and by that time, the power facility should have already been set for turnover to the IPPA which is SPPC. SPPC, nevertheless, qualified that by the end of the Ilijan contract in 2022, the company’s aggregate payments to PSALM would already hover at P390.6 billion – comprising of P293.01 billion in energy fees; and P97.60 billion in capacity fees.

Source: Manila Bulletin May 19, 2019 13:52 UTC