Ayala-led ACEN Corporation income dipped 68 percent to P405 million in the first quarter this year versus P829.32 million in the same period last year, owing to higher cost in securing replacement power for its customers. The Ayala firm attributed the earnings drop to “short term headwinds” as...
Telecom giant Globe is batting for an accelerated lowering of the Retail Competition and Open Access (RCOA) consumption threshold in the electricity sector from the current 500 kilowatts to 10 to 99 kw so small businesses and enterprises can directly choose their electricity suppliers. RCOA is a...
The Wholesale Electricity Spot Market (WESM), which serves as the central registration body for the Green Energy Option Program (GEOP), has been registering massive shift of qualified businesses to renewable energy (RE) when it comes to their power supply sourcing. In just a span of one month,...
A definitive regulation is being sought from the Securities and Exchange Commission (SEC) for the proposed "forward market’" to be instituted in the country’s Wholesale Electricity Spot Market (WESM). The Independent Electricity Market Operator of the Philippines (IEMOP), which is the operating...
The Wholesale Electricity Spot Market (WESM) in Mindanao is being pushed for commercial operation in June this year, ahead of the energization of the Mindanao-Visayas Interconnection Project (MVIP), which is subsequently targeted by the fourth quarter. According to Edward I. Olmedo, senior manager...
With higher capacity availability from power plants, the settlement prices at the Wholesale Electricity Spot Market (WESM) had softened to P6.26 per kilowatt hour (kWh) this April versus the previous month’s P6.97 per kWh. According to WESM operating entity Independent Electricity Market Operator...
With rising fuel prices in the world market, customers of Manila Electric Company (Meralco) are being apprised this early to expect uptick in their electric bills this month. The utility firm primarily indicated that “the impact of the higher international coal prices and peso depreciation is...
Electricity demand in Luzon, the country's main economic center, peaked in March and surpassed the pre-pandemic demand levels for the same month, largely due to the start of dry season and the wider re-opening of the economy, the Independent Electricity Market Operator of the Philippines (IEMOP)...
As weather temperatures rise, so as the electric bills of consumers with power utility giant Manila Electric Company (Meralco) announcing P0.0625 per kilowatt hour (kWh) increase on its March billing cycle to P9.6467 per kWh from the previous month’s P9.5842 per kWh. For residential end-users in...
Rate hike in March Meralco billing seen By MYRNA M. VELASCO Apart from financial pain at petroleum pumps, the customers of Manila Electric Company (Meralco) will need to expect further squeeze on their household budgets as their electric bills are also anticipated to rise this month. According to...
A “special settlement arrangement” is being firmed up for the trading of capacity in the Wholesale Electricity Spot Market (WESM) for the scheduled energization of the P52-billion Mindanao-Visayas Interconnection Project (MVIP), or the link-up of power grids in the two islands as concretized by...
The Energy Regulatory Commission (ERC) has ordered the Philippine Electricity Market Corporation (PEMC), the governance body of the Wholesale Electricity Spot Market (WESM), to finally lift the spot trading suspension for the Bohol segment enforced roughly two months ago. The regulatory body...
