PSALM appoints former AboitizPower official as new president

September 28, 2022

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STATE-LED Power Sector Assets and Liabilities Management Corp. (PSALM) announced on Wednesday that its board elected Dennis Edward A. Dela Serna as its president and chief executive officer.

“The governing board of PSALM has elected Dela Serna as its president and chief executive officer following the release by Malacañang of his appointment as acting president and CEO of the corporation and member,” PSALM said in a statement posted on its website.

Following his appointment, Mr. Dela Serna resigned as first vice-president at Aboitiz Power Corp.’s regulatory affairs office.

In a separate media release, AboitizPower said that Mr. Dela Serna’s resignation is effective on Sept. 28.

“We believe President [Ferdinand R.] Marcos Jr., and his administration have chosen wisely as Dennis is very well suited for the role,” AboitizPower said.

From 2002 to 2008, Mr. Dela Serna supervised PSALM’s universal levy, tariff, and financial evaluation department, under then PSALM president and CEO Raphael P.M. Lotilla.

Mr. Lotilla, now the Secretary of the Department of Energy, previously served as an independent director at AboitizPower.

On Sept. 5, consumer group National Association of Electricity Consumers for Reforms (Nasecore) asked Mr. Marcos to reconsider the appointment of Mr. Lotilla and Monalisa C. Dimalanta, who is the chairperson and chief executive officer of the Energy Regulatory Commission (ERC).

“The Secretary of Energy’s record in public service speaks for itself. He is also aware that [ERC Chair Ms.] Dimalanta’s stint as head of the National Renewable Energy Board in the previous administration was characterized by fairness and integrity,” Andria Frago, the DoE’s media office chief, said in an earlier Viber statement.

Ms. Dimalanta has also served as a compliance officer at AboitizPower, a post she relinquished after joining the ERC.

Meanwhile, Sabin M. Aboitiz, AboitizPower’s chairman was appointed as lead for Private Sector Advisory Council. — Ashley Erika O. Jose