Consumers being served by the Bantayan Island Electric Cooperative (BANELCO) could expect full electrification of the entire area by year 2022, based on the energization program being cast by the power utility. As noted by BANELCO General Manager Lee Rivera, “our main objective is total...
The board of directors of Aboitiz Power Corporation has approved the company’s P30 billion peso-denominated fixed rate retail bonds to be issued in tranches. The company said it will file registration for the planned bond issuance under the shelf registration program of the Securities and...
The government is currently studying if it can establish “technical justification” that will allow higher percentage of foreign investors’ shareholdings in renewable energy (RE) projects, primarily for wind and solar ventures. That policy option is currently being studied by the Department of...
Motorists using diesel in their vehicles will be shelling out additional P0.60 per liter; and P0.50 per liter for gasoline, based on the upward adjustments implemented by the oil companies this week. For kerosene, the industry players also sent pricing advisory notices that this fuel commodity will...
The shift of state-run National Power Corporation (NPC) to renewable energy (RE) technologies in powering the off-grid areas could yield savings of up to P13.5 billion annually with consumers enjoy cheaper electricity cost....
The Department of Energy (DOE) has suspended the issuance of “certificates of energy projects of national significance” (CEPNS) to various projects being proposed by industry players....
The employees of Petron Corporation are pleading for support from the local government of Limay, Bataan so they can save their jobs; and they are likewise pushing for the re-classification of the 180,000 barrels-per-day refinery to become part of the Freeport Area of Bataan (FAB). The latest plan...
It will be another period of added expenses for Filipino motorists next week as pump prices are anticipated to rise by P0.50 to P0.65 per liter across products. Based on the calculation of the oil industry players, gasoline prices will inch up by P0.50 to P0.60 per liter; while diesel will be...
Ayala-led AC Energy Philippines Inc. (ACEN) has secured the approval and confirmation of the Securities and Exchange Commission (SEC) on its stock rights offering (SRO) which is targeted next year. The Ayala energy firm is eyeing to float 2,267,580,434 common shares on its first round SRO and it...
Yuchengco-led Rizal Commercial Banking Corporation (RCBC) has forthrightly declared that it will no longer extend financing to new coal-fired power projects in the Philippines. That came as a daring statement from RCBC President and CEO Eugene S. Acevedo, the first bank chief executive to do so...
The Department of Energy (DOE) is stepping up on the conduct of a feasibility study that will line up hydrogen as “fuel of the future” for the Philippines. Energy Secretary Alfonso G. Cusi “I have recently formed a team to study its potential for the local industry given that hydrogen is seen...
The ‘investigative powers’ being exercised by the Department of Energy-Department of Justice (DOE-DOJ) task force over abuses in the downstream oil sector was proposed to be transferred to the Philippine Competition Commission (PCC) to ensure non-discriminatory handling of cases. The...
