Sabin scores rare ‘grand slam’ in power: Third Aboitiz exec gets plum energy post as BBM appoints Dennis de la Serna new PSALM boss

Bilyonaryo Sabin Aboitiz is making the most of his connections to President Bongbong Marcos in just the first three months in office of his BFF.

ALSO READ: Aboitiz Power-ful: Dennis Dela Serna could be next AP exec to snag plum energy post after DOE’s Lotilla, ERC’s Dimalanta

The Power Sector Assets and Liabilities Management Corporation (PSALM) announced the election of Aboitiz Power (AP) first vice president for regulatory affairs Dennis de la Serna as its new president and CEO.

Malacanang had appointed de la Serna as acting PSALM boss on September 15.

De la Serna will be the third Aboitiz group executive to be appointed to a top post in the government’s energy portfolio after Department of Energy Secretary Raphael Lotilla (former independent director of AP and its parent Aboitiz Equity Ventures) and Energy Regulatory Commission Chair Monalisa Carneo Dimalanta ( former AP chief legal counsel).

Sabin, the Aboitiz Group CEO, is himself the Marcos’ top adviser in the newly-formed Private Sector Advisory Council (PSAC).

With three key allies in power, AP will have influence in formulating and implementing policy reforms, in the power sector; regulating rates and disciplining players; and overseeing the sale of power generation and real estate assets and and administering the universal chargecollected from the National Grid Corporation of the Philippines and the distribution utilities.

PSALM said de la Serna has over two decades of expertise in the Philippine energy sector. He supervised PSALM’s Universal Levy, Tariff, and Financial Valuation Department from 2002 to 2008.

He worked under then PSALM President and CEO Lotilla for a year during the initial implementation phase of the privatization program and the transfer of the National Power Corporation (NPC) tariff functions to PSALM and during his tenure as Secretary of the Department of Energy (DOE) from 2005-2007.