The proposed divestment of the 650-megawatt Malaya thermal power facility has enticed at least five firms to join the plant’s ‘negotiated sale arrangement’ giving hopes to state-run Power Sector Assets and Liabilities Management Corporation that it could finally sell the asset this time....
Consumers’ pockets will finally experience slight relief as prices at petroleum pumps are anticipated to be on moderate rollback next week. Oil companies have calculated prospective price reduction of P0.40 to P0.45 per liter for diesel products; and marginal downward adjustment of P0.10 to P0.20...
Listed firm Aboitiz Power Corporation is accelerating its investment pitch for battery energy storage system (BESS) as added solution in building up the reliability of electricity supply as well as in ensuring stability of power grids, via its 12 projects that will add up 248 megawatts to its...
The consolidated net income after tax (NIAT) of Consunji-led Semirara Mining and Power Corporation (SMPC) nosedived 66-percent to P3.3 billion last year from a robust bottom line outcome of P9.6 billion in 2019. The company attributed the significant income decline to lower energy sales as well as...
Lopez-led Energy Development Corporation (EDC) is scheduling P15 billion worth of bond issuance under its maiden “green bond framework”, of which proceeds will be used to bankroll new renewable energy (RE) projects as well as to refinance loans for existing RE facilities. The company said its...
Top tier incentives, primarily a six-year income tax holiday (ITH), is being sought for energy efficiency projects especially those that shall be undertaken by energy service companies (ESCOs). That has been the call put forward by the Philippine Energy Efficiency Alliance (PE2) in its meeting with...
Power utility giant Manila Electric Company (Meralco) has set P1.8 billion provision for ‘bad debts’ or ‘credit loss’ because of the extended ‘no disconnection’ policy being enforced by the government for consumers that have unpaid bills. “Given that there is an extension on the...
Meralco PowerGen Corporation, the power investment arm of Manila Electric Company (Meralco), is seriously weighing options to shift investment plans into setting up liquefied natural gas (LNG) facilities instead of the previously blueprinted coal-fired power investments. “We should get into the...
The Tiwi and Makiling-Bahanaw geothermal plants have started supplying the electricity requirements of American financial services company Wells Fargo through the retail electricity supplier (RES) agreement that the parties have entered into. Wells Fargo Philippines, McKinley Hill, Bonifacio Global...
A consortium led by Hong kong-based First Pacific Company Limited of businessman Manuel V. Pangilinan has submitted last week its “final non-binding offer” to acquire the 45-percent stake of Shell Philippines Exploration B.V. (SPEX) in the multi-billion dollar Malampaya deep water gas-to-power...
Owing mainly to the coronavirus pandemic-induced sales decline, the core net income of Manila Electric Company (Meralco) went down 9.0-percent to P21.711 billion last year from a robust bottom line outcome of P23.832 billion in 2019. The utility firm’s reported net income suffered an even deeper...
The Department of Energy (DOE) has laid down a policy allowing “one-year banking” of credits that an end-user may claim under the net metering program in the renewable energy (RE) sector. Under the proposed ‘banking of net metering credits’ as institutionalized under DOE Circular No....
