In electric power: the corporation created pursuant to Section 49 hereof [Section 4(oo), Electric Power Industry Reform Act of 2001; Section 4 (nnn), Rules and Regulations to Implement Republic Act No. 9136, Entitled “Electric Power Industry Reform Act of 2001”]
Note: The term is referred to as “Power Sector Assets and Liabilities Management Corporation (PSALM Corp.)” in the EPIRA. Under the IRR, the term is alternatively referred to as “PSALM” in addition to “PSALM Corp.”.The IRR adopts the definition under the EPIRA, except for an adjustment to the writing style (reference “of the Act” instead of “hereof”).
In power and upstream oil & gas: the government-owned and/or controlled corporation created pursuant to Section 49 of the EPIRA, with the mandate of disposing and privatizing the assets of NPC and liquidating the outstanding financial obligations of NPC [Section 4.9, DOE-DOF Joint Circular No. 1, Series of 2020, The Implementing Rules and Regulations of Republic Act No. 11371, An Act Reducing Electricity Rates An Act Reducing Electricity Rates by Allocating a Portion of the Net National Government Share from the Malampaya Natural Gas Project for the Payment of the Stranded Contract Costs and Stranded Debts Otherwise Known as the “Murang Kuryente Act“]