Manila, April 25 -- The corporate life of Power Sector Assets and Liabilities Management (PSALM) Corporation has been extended for another 10 years.

PSALM's corporate life was extended through Republic Act (RA) 12179 which lapsed into law on April 18 without President Ferdinand R. Marcos Jr.'s signature.

A measure lapses into law if the President does not act on it, either by signing or vetoing, after 30 days.

RA 12179 amends Section 50 of RA 9136 or the Electric Power Industry Reform Act (EPIRA) of 2001 to continue PSALM Corporation's operation, which is set to expire on June 26, 2026 under its original charter.

PSALM, which was established through the EPIRA, has the principal mandate of managing the orderly sale, disposition, and pr...