FGEN LNG Corporation, the corporate vehicle of First Gen Corporation for its interim liquefied natural gas (LNG) import facility, has shortlisted two bidders for its targeted chartering of floating storage regasification unit (FSRU) for the project. The shortlisted firms are BW Gas Limited and...
The Department of Energy (DOE) is currently enticing investors to funnel capital in at least 69 areas that are classified as “underserved” and “unserved” domains when it comes to energization initiatives. The entry of the targeted investors shall be via the qualified third party (QTP)...
Consumers’ pockets will be slightly off from financial pressure next week as prices are anticipated to be on rollback at petroleum pumps, based on the calculation of the oil companies. Gauging from the outcome of trading in the international market last week, the price of diesel and kerosene...
Lopez-led First Gen Corporation was considerably in auspicious state last year on its financial performance, as its earnings had just declined by marginal 7.0-percent to P13.7 billion (US$276 million) from P15.4 billion (US$296 million) in 2019. “The company managed the challenges that arose...
Through collaboration with law enforcement agencies, Delgado-owned firm Isla LPG Corporation has stepped up its crackdown versus illegally sold liquefied petroleum gas (LPG) products, primarily those involving its Solane LPG brand. In recent entrapment operations in Southern Luzon, the company...
Several legislative measures being advanced in the House of Representatives are seeking the creation of training academy to professionalize industry practices for linemen; and for them to be provided with insurance benefits given the risk that they face in their line of work as well as remuneration...
Aboitiz Power Corporation has secured the approval of the Philippine Dealing and Exchange Corporation (PDEx) for the listing of its P8.0 billion Series ‘A’ bond issuance, which has an allotment for oversubscription. “The PDEx approval paves the way for the secondary market trading of the...
Department of Energy (DOE) Secretary Alfonso Cusi said Tuesday, March 16 that he has no intention of "fighting" Senator Manny Pacquiao amid the current brouhaha surrounding the ruling Partido Demokratiko Pilipino–Lakas ng Bayan (PDP-Laban) party. "Hindi naman ako lalaban, mahirap naman yun. Kayo...
Transmission firm National Grid Corporation of the Philippines (NGCP) is reinforcing its smart grid journey with its newly launched Central Control and Monitoring System (CCMS), that will enable it to remotely monitor incidents as well as the operational functions of the country’s power grid...
Despite the dominance of coal plants in the country’s energy mix, Energy Secretary Alfonso G. Cusi forthrightly stated that the Philippines is not ready for ‘carbon tax enforcement’ because such policy could worsen the travails of consumers on high cost of power that they are already...
Owing it to the overall downtrend in demand last year, the core net income of listed firm Aboitiz Power Corporation dropped 27-percent last year to P12.6 billion from a relatively flourishing bottom line of P17.3 billion in 2019. The company stated that it booked leaner non-recurring net gains of...
The 7.1 million customers of Manila Electric Company (Meralco) will experience cost relief in their pockets this month -- with the calculated tariff reduction of P0.3598 per kilowatt hour (kWh), primarily for residential consumers in the utility firm’s March billings. According to the company,...
