Manila, April 25 -- Department of Energy (DOE) Secretary Raphael Lotilla on Friday welcomed the 10-year extension of the Power Sector Assets and Liabilities Management (PSALM) Corp. for the domestic power sector.

This was after the measure amending Section 50 of the Electric Power Industry Reform Act of 2001 (EPIRA) lapsed into law on April 18 sans the signature of President Ferdinand R. Marcos Jr.

"The extension of PSALM's corporate life would finally allow the rehabilitation of the Agus-Pulangi hydropower complex in Mindanao," Lotilla said in a statement..

He said rehabilitation would bring back at least 400 megawatts of renewable energy (RE) and address the safety and flooding risks to nearby communities.

"The Agus-Pulangi rehabili...