Executive Order No.
169
ASSIGNING
THE
POWER SECTOR ASSETS AND LIABILITIES
MANAGEMENT CORPORATION AS AN ATTACHED AGENCY OF THE
DEPARTMENT OF ENERGY
WHEREAS,
Republic
Act No. 9136, otherwise known as Electric Power
Industry Reform Act of 2001 (EPIRA) provides a
framework for the restructuring of the electric power industry, including the
privatization of the assets of the
National
Power Corporation (NPC), the transition to the desired competitive
structure, and the definition of the responsibilities of the various government
agencies and private entities;
WHEREAS,
Section 49 of the
EPIRA created the
Power
Sector Assets and Liabilities Management Corporation (PSALM Corporation), a
government owned and controlled corporation, to take ownership of all existing
NPC generation assets, liabilities, IPP
contracts, real estate and all other disposable assets, and pursuant to Section
50 thereof, to manage the orderly sale, disposition, and privatization of these
NPC assets with the objective of
liquidating all
NPC financial
obligations and stranded contract costs in an optimal manner;
WHEREAS,
by virtue of the
transfer of
NPC assets to
PSALM Corporation and the assumption of
liabilities of
NPC, an attached
government-owned and controlled corporation of the
Department of Energy (DOE),
PSALM Corporation, by operation of law,
becomes a successor-in-interest of
NPC;
WHEREAS,
considering that the
EPIRA is silent on the assignment of
PSALM Corporation as an attached agency of
an appropriate line Department of the Executive Branch for policy and program
coordination and general supervision, the President of the Philippines shall,
by executive order, assign offices and agencies not otherwise assigned by law
to any department, or indicate to which department a government corporation or
board may be, attached pursuant to Section 5, Chapter 1, Book IV of the Revised
Administrative Code of 1987;
WHEREAS,
the role and
functions of the
PSALM Corporation, as
mandated by
R.A. 9136, are closely allied with the role
and function of the
Department of Energy (DOE),
as mandated by Section 37 thereof, and
DOEs
exercise of its supervision and control over all government activities relative
to energy projects in order to attain the goals embodied in energy policy of
the State under Section 2 of
R.A. 7638 (DOE Act of 1992).
NOW,
THEREFORE, I, GLORIA MACAPAGAL-ARROYO, President of the
SECTION
1. Assignment of PSALM as Attached Agency
of the
DOE. The
Power Sector Assets and Liabilities
Management (PSALM) Corporation is hereby assigned as an attached agency of
the
Department of Energy (DOE) to ensure
policy and program coordination and general supervision of energy related
activities of the government.
SEC.
2. Mode of Attachment.
The provisions of Section 38(3), Chapter 7, Book IV, of Executive
Order No. 292, otherwise known as The Administrative Code of 1987 shall
govern the relationship of
DOE and
PSALM Corporation.
SEC. 3.
Annual Report.
The President of
PSALM Corporation
shall, on a yearly basis, submit to the
Secretary
of Energy its report which shall reflect the progress of the privatization
program and other related projects in consonance with the objectives of
Republic Act No. 9136 otherwise known as the Electric Power Industry Restructuring Act of 2001.
SEC.
4. Repeating Clause.
All executive orders, rules and regulations, and other issuances or
parts thereof that shall be inconsistent with the provisions of this Executive
Order are hereby revoked, amended or modified accordingly.
SEC.
5. Effectivity.
This Executive Order shall take effect fifteen (15) days after
publication in two (2) newspapers of general circulation.
Done in the
City of
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