East zone concessionaire Manila Water Co. will raise its water bills starting in October due to the recently approved Foreign Currency Differential Adjustment (FCDA). In a disclosure to the Philippine Stock Exchange on Monday, Sept. 16, Manila Water said consumers will experience a rate increase of...
The Securities and Exchange Commission (SEC) is warning the public against dealing with a fake entity posing as the legitimate Philippine Investment Funds Association (PIFA) on Facebook and CT Loan Cash Loan and Credit Company. The SEC said the public should not buy into the investment scheme...
East Zone concessionaire Manila Water Co. Inc. has reported a surge in the number of water meter thefts and tampering incidents in Quezon City and Makati. Jeric Sevilla, Manila Water corporate communication affairs director, warned that delinquent consumers caught engaging in these illegal...
Several Chinese companies have been shortlisted by SP New Energy Corporation (SPNEC) of the Manila Electric Company (Meralco) Group for soon-to-be awarded contracts on the supply of photovoltaic (PV) modules and energy storage systems (ESS) for the $4.0 billion Terra solar project, an expansive...
London-headquartered private equity firm Actis is injecting colossal investment of $600 million (approximately P34 billion) for its 40 percent equity acquisition in the $4 billion Terra Solar project being advanced to commercial fruition by SP New Energy Corporation (SPNEC) of the Manila Electric...
State-run Philippine National Oil Company (PNOC) will reinforce its initiative for solar rooftop installations at the buildings of the National Economic and Development Authority (NEDA) in Region IV-A areas. The planned deployment of solar photovoltaics (PVs) in the NEDA facilities was cemented...
Pangilinan-led Manila Electric Company is gaining a firmer control over SP New Energy Corporation (SPNEC) by raising its interest to 50.5 percent with the acquisition of an additional stake worth P7.5 billion from its founder Leandro Leviste. Meralco PowerGen Corporation (MGen) is buying another...
The Department of Energy (DOE) is currently studying a policy for the repurposing of diesel-fired power plants by integrating biofuel blend of as much as 55% (or B55) by volume, according to Energy Undersecretary Felix William B. Fuentebella. “We’re developing a strategy for B55 to enable the...
Razon-led Manila Water Co. Inc. reported that it has kept non-revenue water (NRW) below 15 percent for the first half of the year. In a statement on Friday, Aug. 30, the East Zone concessionaire said that system losses—water lost due to leaks and illegal connections—averaged at 13.57 percent as...
The Energy Regulatory Commission (ERC) has firmly laid down that longstop date provision in power supply agreements (PSAs) will no longer be accepted downright as ground for unilateral contract pre-termination; and the allowable timeframe for regulatory approval shall also be within 270 days or at...
East Zone concessionaire Manila Water Co. Inc. said it has added over 14,000 new water service connections in the first half of the year to expand its water services in its franchise area. In a statement, Manila Water reported that it installed 14,125 new water connections from January to June of...
Razon-led firm Primelectric Holdings, Inc (PHI) has acquired the 70 percent majority stake in Bohol Light Company Inc. (BLCI), a power utility servicing Tagbiliran City that was divested by SPC Power Corporation, a company chaired by businessman Alfredo Henares. Following the shares unloading of...
