As of June 2010, the government was able to privatize 26 of its generating or operating plants and four decommissioned assets. 20 of these assets comprise 91.7 percent of PSALM-owned capacities in the Luzon and Visayas, thus surpassing the 70-percent condition for open access and retail competition. The latest successful bid was of the 150-MW Bac-Man geothermal power plant.
Transfer of management and control of at least 70 percent of total energy output of power plants under contract with NPC to Independent Power Producer (IPP) Administrators
The government successfully bid out 3,345.75 MW of NPC-contracted capacities to IPP Administrators, equivalent to US$3.228 billion in proceeds. This amounts to a cumulative 68.22 percent of total capacities privatized, towards the 70 percent required for the start of open access.