Former Power Sector Assets & Liabilities Management Corp. (PSALM) official Dennis Edward De la Serna has been named the state-run company’s new president and CEO.
De la Serna led PSALM’s universal levy, tariff, and financial valuation department from 2002 to 2008, under then company president and CEO and now Energy secretary Raphael Lotilla.
“He will lead PSALM in effecting the privatization of the remaining National Power Corporation (NPC) power generation and real estate assets, setting the outstanding financial obligations and liabilities of PSALM, and administering the Universal Charge,” the Department of Energy (DOE) said in a statement.
Prior to his PSALM appointment, De la Serna was the First Vice President for Regulatory Affairs at Aboitiz Power Corporation. He tendered his resignation from the power company on Wednesday, September 28.
De la Serna is the third energy official from AboitizPower, following Lotilla and Energy Regulatory Commission chairperson Monalisa Dimalanta.
In a statement, Aboitiz Power said that the Marcos Administration “have chosen wisely as Dennis is very well suited for the role. Upon returning to PSALM, Dennis brings back more than two decades of valuable, diverse, and relevant, experience in Philippine energy industry finance, regulation, and compliance.”
Meanwhile, former Science and Technology undersecretary Dr. Rowena Cristina Guevara has been named the new president of the National Transmission Corporation (Transco). Dr. Fernando Martin Roxas has also been appointed as NPC’s president.