The National Power Corporation (NPC) and Power Sector Assets and Liabilities Management Corporation (PSALM) have finally sealed the renegotiated Operations and Maintenance Agreement (OMA) on March 10, 2015 through a signing of Memorandum of Agreement. 

Among the salient features of the new agreement is the Administrative Fee to be paid by PSALM to NPC for managing the power assets in the main grid, NPC’s ownership of the portion of the Major Repair and Maintenance Department (MRMD) building in Sucat, Parañaque and PSALM taking over the responsibility of auditing and paying the Independent Power Producers (IPPs).