PSALM pays P7.8-million damages from power-barge oil spill

By Lenie Lectura – May 3, 2019
from Business Mirror

THE Power Sector Assets and Liabilities Management Corp. (PSALM) disbursed P340,428 worth of indemnities, bringing to P7.8 million the total compensation to individuals, families and enterprises affected by the Power Barge (PB) 103 Oil Spill at the height of Supertyphoon Yolanda in November 2013.

Twenty-three out of the 26 beneficiaries, hailing mostly from Barangay Botongon and Poblacion Zone I, form part of the sixth and latest batch of claimants where PSALM paid a total of P340,428 worth of indemnities.

To date, a total of P7,798,175 has already been settled and released to the first to sixth batch of claimants.

PSALM’s settlement of third-party claims is based on the recommendation of the Government Service Insurance System (GSIS) adjuster, Claims Services International Adjusting Co. and endorsement of GSIS.

The 32-megawatt PB 103 was moored at Barangay Botongon in Estancia, Iloilo, when it was swept aground due to strong winds and storm surge by Yolanda.

Immediately after the incident, PSALM has provided financial aid amounting to P2 million to Iloilo families affected by the oil spill through the provincial and municipal government.