Power utility giant Manila Electric Company (Meralco) is anticipating probable increase in power rates to be passed on to its customers in the January bills. The power firm said there had been lower demand in Luzon grid within December supply month, hence, the fixed cost component in the...
PCC rules The Philippine Competition Commission (PCC) has indicated that ‘gas transmission pipelines’ shall not be considered as “public utility’, hence, these investments will not be needing franchise from Congress. This was stated by Atty Christina Faye Condez-De Sangon, legislative and...
The Energy Regulatory Commission (ERC) has junked the bid for feed-in-tariff (FIT) incentive of energy technologies that shall be harnessed from ocean resources, primarily those leaning on ocean thermal energy conversion (OTEC) applications. Instead, the regulatory boy had directed the National...
Arran Investment Pte. Ltd., an affiliate of Singapore’s sovereign wealth fund GIC Private Limited, has formalized its 17.5-percent equity acquisition in AC Energy Philippines Inc. (ACEN), a deal which primarily covered P20 billion private placement as part of the ownership take. GIC’s entry...
For consumers still travelling back from their holiday break, they will need to cough up additional cash on their fuel budgets because the price of gasoline will rise by P0.45 per liter this week. The oil companies similarly advised that diesel prices will increase by P0.30 per liter; while...
“Power rate reduction” tops the 2021 to-do list of the Department of Energy (DOE) to improve the attractiveness of the Philippines as an investment destination for manufacturers, who have been discouraged by the prohibitive power cost in the country. Energy Secretary Alfonso G. Cusi told...
State-run subsidiary Philippine National Oil Company-Renewables Corporation (PNOC-RC) is not winding down operations and is not ceasing corporate existence, according to Energy Secretary Alfonso G. Cusi. That was his pronouncement despite earlier calls of some lawmakers for the government-owned...
The Department of Energy (DOE) has suspended its issuances of certificate of energy projects of national significance (CEPNS) blaming the very slow pace in securing permits and project implementations. The CEPNS was mandated under Executive Order No. 30 that was issued by President Duterte in 2017....
A new price determination methodology (PDM) has been instituted for the Wholesale Electricity Spot Market (WESM) in its shift to shorter five-minute trading interval that is targeted for enforcement middle of this year. The Energy Regulatory Commission (ERC) approved the new pricing methodology...
Publicly listed firm Phoenix Petroleum Philippines Inc. has completed around P4.0 billion refinancing activity before the end of this year as part of its financial management program. The firm disclosed to the Philippine Stock Exchange (PSE) that it first settled P3.0 billion in short term...
Students from the University of the Philippines (UP) scored prestigious victory in the global competition on tracking and reducing carbon dioxide (CO2) emissions from vehicles, a contest for the youth that has multinational energy giant Royal Dutch Shell as its sponsor and prime mover. As formally...
Following a very marginal financial breather last week, consumers will be welcoming the New Year with fresh round of fuel hikes. Industry players estimated that gasoline prices will go up by P0.35 to P0.45 per liter and diesel products by P0.25 to P0.30 per liter. (Mark Balmores / FILE PHOTO /...
