As of June 2010, actual privatization proceeds collected by PSALM from the sale of generation and transmission assets has amounted to US$4.42 billion. This includes other privatization-related fees such as lease rental, assignment of ROW, purchase price for land, and forfeiture of bonds.
The proceeds from the sale of National Power assets are used to service the financial obligations of National Power (e.g., prepayments of maturing debts, regular National Power debt servicing, servicing of IPP obligations).Of the privatization proceeds collected so far, PSALM has utilized US$4.089 billion for the following (as of June 30, 2010):
Prepayments | US$1.297 billion |
Regular NPC Debt Servicing | US$1.600 billion |
Servicing of IPP Obligations | US$1.095 billion |
Privatization Related Expenses | US$0.097 billion |
Total | US$4.089 billion |