MANILA -- The corporate term of the Power Sector Assets and Liabilities Management Corp. (PSALM) has been extended for another ten years.

This was after the proposed measure amending the "Electric Power Industry Reform Act of 2001" or the EPIRA Law has lapsed into law on April 18, 2025 without the signature of President Ferdinand Marcos Jr.

PSALM is the state-run firm that manages the sale, disposition, and privatization of generation assets of the National Power Corporation, as well as its real estate, and other disposable assets, and IPP contracts with the objective of liquidating all NPC financial obligations and stranded contract costs in an optimal manner.

Republic Act 12179, which amends Section 50 of the Epira Law, states that PSALM shall continue to exist for a period of ten (10) years from the expiration of its original term on June 26, 2026.

“All assets held by it, all moneys and properties belonging to it, and all its liabilities outstanding upon the expiration of its term of existence shall revert to and be assumed by the National Government: Provided, That PSALM Corp. shall be prohibited from collecting or charging consumers for stranded costs and stranded debts during its extended corporate life except as otherwise approved by the Energy Regulatory Commission (ERC) prior to the date of the passage of this Act,” the law read.