The government’s intent to maximize the value of the Caliraya-Botocan-Kalayaan (CBK) hydroelectric power plant caused the delays in the privatization of the power asset, according to the chief of the Department of Energy (DOE). “The concern that had to be addressed was how to maximize the value of CBK.
The government’s intent to maximize the value of the Caliraya-Botocan-Kalayaan hydroelectric power plant caused the delays in the privatization of the power asset, according to the chief of the Department of Energy .
Lotilla was referring to the GEA-3 which got delayed because the rates have yet to be determined by the Energy Regulatory Commission . The government is concerned that the rates to be determined for GEA-3, particularly for pumped storage, may affect the value of the CBK. The sale of the 797-megawatt CBK complex in Laguna may result in P100 billion in revenues for the government, according to Finance Secretary Ralph Recto, who also serves as chairman of the PSALM board of directors.
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