Greenfield power projects that will feed on imported liquefied natural gas (LNG) have been emerging as ‘hot investment contest’ in the restructured electricity sector, and Aboitiz Power Corporation announced that it is inclined to join the forthcoming wave of capital spending for the...
The moratorium on new coal-fired power projects will only cover yet-to-be-proposed investments, according to Energy Secretary Alfonso G. Cusi. In a virtual press briefing, he classified that even the indicative projects will still have to be processed by the Department of Energy (DOE) and these may...
With depressed power demand because of the niggling impact of the coronavirus pandemic, the consolidated net income of Aboitiz Power Corporation had dipped 32-percent to P3.3 billion in this year’s third quarter versus P4.8 billion in the same period in 2019. In the nine-month duration, the...
Power utility giant Manila Electric Company (Meralco) will inject P50 billion worth of capital expenditures (capex) for the expansion of its distribution network as well as power generation facilities to support the country’s track into economic recovery post-pandemic. Meralco Chairman Manuel V....
State-run National Power Corporation (NPC) is seeking P29.824 billion budget for next year, primarily to bankroll its targeted hybrid power system installations in various parts of the country as well as for fuel expenses. Of the proposed allocation, gigantic P23.197 billion will be funneled to the...
Clean energy sources will be ‘green with envy’ as coal fuel sustained its dominance in the country’s power generation mix last year with a share of 54.6 percent, according to Department of Energy (DOE) data presented in the Senate. Coal’s fraction in the power generation pie was followed by...
Ayala-owned AC Energy Philippines (ACEN) has executed a new subscription agreement with subsidiary Ingrid Power Holdings Inc. for the parent firm to purchase specified number of shares; then the proceeds of that transaction will bankroll the first phase of the latter’s 300-megawatt Pililla...
State-run Power Sector Assets and Liabilities Management Corporation (PSALM) has apprised the Senate Committee on Energy that its liabilities had been trimmed by P29 billion as of June this year to P393.3 billion from a heftier scale of P422 billion as of end-December 2019. During the budget...
The La Niña weather phenomenon has already started driving down electricity rates this October in the country’s Wholesale Electricity Spot Market (WESM), with it going down by more than P1.00 per kilowatt hour (kwh) as of October 12 to P2.19 per kwh from the September average market price of...
Aboitiz Power Corporation has renewed its power supply agreement (PSA) with First Bay Power Corporation (FBC), to fulfill the latter’s procurement of 10 megawatts of its power requirements as stipulated in the deal. The source of the power supply to be delivered to FBPC’s network will be from...
Panay Energy Development Corporation (PEDC), a subsidiary of Global Business Power Corporation (GBP), was bestowed highest compliance rating among coal-fired power plants in the country, on its adherence to the rules being enforced by the Wholesale Electricity Spot Market. The company, in a...
The Department of Energy (DOE) is currently reviewing and processing at least 39 new projects that have applied for certificates of energy projects of national significance (CEPNS) so they can be extended streamlined processes in their permitting and licensing requirements....
