Pangilinan-led PXP Energy Corporation has significantly slashed its losses in the first quarter to P5.6 million from a relatively heftier P16.9 million within the same three-month stretch last year. The company’s net loss attributable to equity holders of its parent firm had been at P4.3 million,...
Households can breathe easy on their cooking fuel budgets this month as the price of liquefied petroleum gas (LPG) will be on a rollback of P3.20 per kilogram or an aggregate P35.20 for the standard 11-kg cylinder patronized by most residential users. As of press time, the LPG industry players that...
The prospective bidders in the 650-megawatt Malaya thermal power plant had been trimmed to two companies, from originally 4 to 5 companies, but state-run Power Sector Assets and Liabilities Management Corporation (PSALM) said it is still keen on divesting the facility via a negotiated deal by May 7...
The Department of Energy (DOE) is solidifying partnership with the United States government on policy formulation that the Philippines would be needing for the rebirth of its gas industry that shall be ushered in by liquefied natural gas (LNG) importations. The tie-up of the two governments is...
System operator National Grid Corporation of the Philippines (NGCP) carried out its ‘blackout simulation drill’ as part of its emergency preparation measures in case any of the power grids would descend into unwanted power interruptions or brownouts. Similar to last year, the company noted the...
Project sponsor-firm Vires Energy Corporation (VEC), a subsidiary of listed firm A. Brown Company Inc., has formally admitted to the Department of Energy (DOE) the information lapse on its targeted deployment of floating storage and regasification unit (FSRU) that is tied to its planned liquefied...
The consolidated net income of Aboitiz Power Corporation had climbed by a very significant 200-percent in the first quarter to P6.2 billion from a relatively trimmed bottom line of P2.1 billion in the same period last year. The company said it logged non-recurring losses of P29 million within the...
The 63-megawatt greenfield Gigasol Palauig solar farm development of Ayala-led AC Energy Philippines Corporation has reached commercial operation phase and is now feeding capacity into Luzon grid. The company injected P2.39 billion into that newly completed project; and its scale of electricity...
Power utility giant Manila Electric Company (Meralco) is seeking the approval of the Department of Energy (DOE) for its “emergency procurement” of 220 to 260 megawatts of power capacity to augment electricity supply during the summer months. The company said for its proposed interim power...
Listed firm Aboitiz Power Corporation has earmarked P23 billion capital expenditures (capex) this year that shall be funneled mainly to the completion of its 1,336-megawatt Dinginin coal-fired power facility and the concretization of pipelined battery energy storage system (BESS) projects. The...
Reopening the Philippine economy from all the coronavirus disease (COVID-19)-triggered lockdowns presents a "challenge" to the local power industry. Department of Energy (DOE) Secretary Alfonso Cusi (Photo from DOE Facebook) Thus, said Department of Energy (DOE) Secretary Alfonso Cusi on Tuesday,...
Meralco PowerGen Corporation (MGen), the power generation investment subsidiary of Manila Electric Company (Meralco) has completed the acquisition of the shareholdings of affiliate firm Global Business Power Corporation (GBP) on March 31 this year, according to Meralco executives. To partly fund...
