Psalm - Makati City, Philippines

We refer to the article of Sunday Stories columnist Marlen V. Ronquillo titled "PSALM is now Napocor 11" (Manila Times, 25 August 2010), which highlighted certain issues raised by Eastern Samar Rep. Ben Evardone in a recent press briefing. At the outset, the Power Sector Assets and Liabilities Management (PSALM) Corporation welcomes an inquiry into the finances of National Power CorporationThe Power Sector Assets and Liabilities Management (PSALM) Corporation did not make a profit from its operations in the Wholesale Electricity Spot Market (WESM) to the detriment of Filipino consumers, contrary to claims in recent articles published in various newspapers. PSALM rebutted that in the past three years that the Corporation had been trading in the WESM