Energy Secretary Alfonso G. Cusi defended the seemingly ‘negligible’ $50 million capital requirement for foreign firms entering the Philippine geothermal sector saying the figure was the scale determined by the government for prospective investment areas on offer....
The country’s biggest power generation companies are eyeing to join the competitive selection process (CSP) of Manila Electric Company (Meralco) so they can corner contracts on the utility firm’s future power...
The Malampaya deep water gas-to-power project had already turned in P311 billion worth of revenues to the Philippine government since the start of its commercial operations, according to Senate Committee on Energy Chairman Sherwin T. Gatchalian. Senator Sherwin Gatchalian (MANILA BULLETIN FILE...
Typhoon “Ulysses” showed its wrath not just with its blustering wind and the volume of rain it dumped on some areas, but also with brownouts while it pummeled Metro Manila and various parts of Luzon Thursday. A fisherman secures his wooden boat on a road in Santo Domingo, Albay province on...
Power utility giant Manila Electric Company (Meralco) said it will be monitoring the probable impact of higher power rates that will result from the scheduled maintenance at the Malampaya gas platform this month. (MB FILE, KJ ROSALES) The gas production facility, as advised to the Department of...
Lopez-led First Gen Corporation has posted 12-percent decline in earnings to P9.6 billion (US$190 million) in the three quarters of this year vis-à-vis heftier profitability of P11.3 billion (US$217 million) in the same period last year. Within the January-September period, the company noted that...
The Philippine government is dangling at least eight conditions that the consortium-members of Service Contract (SC) 38 led by Shell Philippines Exploration B.V. (SPEX) must comply with for the license extension of the $4.5 billion Malampaya deep-water-gas to power project. As fleshed out by Energy...
Consunji-led firm Semirara Mining and Power Corporation (SMPC) has terminated its joint venture agreement (JVA) with Meralco PowerGen Corporation (MGen) for the previously proposed 700-megawatt St. Raphael Power Generation Corporation (SRPGC) in Calaca, Batangas. The deal between SMPC and MGen was...
The $565 million sale of American energy giant Chevron Corporation for its 45-percent stake in Malampaya to businessman Dennis Uy’s Udenna Malampaya LLC is a “voidable contract,” the Department of Energy (DOE) has disclosed in a Senate hearing. Energy Assistant Secretary Leonido J. Pulido III...
Electricity service restoration in typhoon-ravaged provinces in the Bicol region is now on its accelerated pace, with power supply already back in Naga City and three towns in Camarines Sur; while several towns in Camarines Norte already gained back their power service. In an update report of the...
Motorists will be greeted by varied adjustments in pump prices this week – with the cost of gasoline getting trimmed by P0.20 per liter; while diesel will go up by P0.20 per liter. (MARK BALMORES / MANILA BULLETIN FILE PHOTO) The price hike will be heftier this week at P0.40 per liter for...
Customers of Manila Electric Company (Meralco) will experience slight financial relief on their pockets this month, as the electricity rate it will pass on will be lower by P0.0395 per kilowatt hour (kWh) in its November billing. (MANILA BULLETIN) The utility firm’s overall tariff to be reflected...
