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....
The Department of Energy (DOE) is pushing for revisions in the guidelines that must be followed by power plant owners and operators so they can prospectively limit the testing and commissioning of their facilities within a two-month span – a phase that the electric generating units would have to...
Bad luck may have come in threes as the privatization of the 650-megawatt Malaya thermal power plant failed anew on Wednesday (September 23) on its third bid round, therefore, it is prompting asset-seller Power Sector Assets and Liabilities Management Corporation (PSALM) to re-evaluate the...
Proceeds from the sale of National Power Corporation (NPC) assets have already reached P915 billion as of end-March this year but revenue collections only hit P612.41 billion, according to the Department of Energy. Collections of asset-seller Power...
Gotianun-led FDC Misamis Power Corporation has remitted P9.5 million as financial benefit to the local government unit (LGU) host of its power facility in Misamis Oriental in Mindanao to help in its pandemic response. The turnover of the funds is in compliance with the mandate of the Department of...
State-run Power Sector Assets and Liabilities Management Corporation (PSALM) is scheduling the sale of five more real estate assets via an auction on September 30 this year. The properties due for divestments are located in...
By half P2.188 billion State-run Power Sector Assets and Liabilities Management Corporation (PSALM) has trimmed by half the reserve price of the 650-megawatt Malaya thermal power facility to P2.188 billion, which will be applied in its scheduled privatization next week. In a bidding last...
