The regulator-approved pass on of the deferred charges of First Gen Corporation on its gas use for power generation and capital recovery on liquefied natural gas (LNG) import facility investment will hike Meralco rates by P0.32 to P0.33 per kilowatt hour (kWh) starting in its October billing to...
Lopez-led First Gen Corporation is stepping up competition in retail market space of the power industry, as it is strategically gearing up to reign as ‘green solutions provider’ to commercial and industrial (C&I) end-users that are advancing their net zero and sustainability goals. At the...
There’s still no way out for many consumers on upturn in their electric bills, as the pass-on tariff of power utility giant Manila Electric Company (Meralco) will slightly go up by P0.0327 per kilowatt hour (kWh) in this August billing cycle. Following that upward adjustment, the overall rate to...
State-run Philippine National Oil Company (PNOC) is seeking the allocation of P6.02 billion supplemental budget so it can have ready financial capacity to cough up investment in case one of the consortium-members in the Malampaya gas field project would face snags in its capital contribution to the...
Financial reprieve on consumers’ pockets is expected to continue next week as another round of modest price rollback is projected by the oil companies – especially for diesel and kerosene products. Based on the calculation of the industry players, the price of diesel products will likely...
Meralco PowerGen Corporation, the power investment arm of Manila Electric Company, is eyeing to secure approval from the Philippine Competition Commission (PCC) on the triarchy deal that it sealed for the $3.3 billion integrated liquefied natural gas (LNG) project in Batangas province. MGen...
The newly collected data from the completed seismic surveys of Israeli firm Ratio Petroleum and state-run Philippine National Oil Company-Exploration Corporation (PNOC-EC) will enable a comprehensive assessment of the actual reserves’ potential for oil and gas at their service contracts in the...
The Department of Energy (DOE) is scheduling fresh round of green energy auction (GEA) by the fourth quarter this year to cover the unsubscribed capacity in the last competitive bidding - and the distinctive feature of the forthcoming tender will be on packaging it as integrated renewable energy...
The Energy Regulatory Commission (ERC) is scheduling next week the deliberations on the deferred cost recoveries of liquefied natural gas (LNG) that First Gen Corporation had utilized for electricity generation at its gas-fed power plants in Batangas. As full pass-on of LNG costs had not been...
The Department of Energy (DOE) is eyeing to issue an amended Circular that will simplify the award of petroleum service contracts (PSCs) to interested investors in the country’s upstream oil and gas industry. In a draft Circular that was furnished to the relevant industry stakeholders, the energy...
Ayala-led ACEN Corporation has inked a contract with subsidiary ENEX Energy Corporation (ENEX) for the agreed shares subscription covering 177,544,011 non-voting preferred shares of the latter to be issued at a par value of P1.00 per share. According to ACEN, the shares will be issued from ENEX’s...
Consumers are up for another financial pain at the pumps and in their kitchens as oil and liquefied petroleum gas (LPG) prices will track new round of upticks, based on the pricing advisories of the industry players. As culled from the price movement notices of the oil companies, the price of...
