Manila-headquartered Atlantic Gulf & Pacific Company (AG&P) is the fourth company that was issued by the Department of Energy (DOE) with a notice to proceed (NTP) for its proposed liquefied natural gas (LNG) import facility to be sited at the Batangas Bay. In a statement to the media,...
Ayala-led AC Energy Corporation has inked a subscription agreement with its subsidiary firm Giga Ace-4 Inc. for the purchase of common and preferred shares valued at aggregate P2.199 billion. The Ayala firm said it purchased from its subsidiary-firm 43,975,374 common A shares for P219.876 million;...
Motorists filling up their vehicles with diesel products will be able to cut their fuel budgets this week by P0.35 per liter; and for those using gasoline, there will be a marginal rollback of P0.10 per liter. The oil companies also announced price reduction of P0.55 per liter for kerosene products...
Power utility giant Manila Electric Company (Meralco) has spent its P20.8 billion worth of capital expenditure (capex) undertakings last year with the completion of electric and non-electric projects. According to Meralco, the firm’s capital spending last year was higher by 3.0-percent versus...
The proposed divestment of the 650-megawatt Malaya thermal power facility has enticed at least five firms to join the plant’s ‘negotiated sale arrangement’ giving hopes to state-run Power Sector Assets and Liabilities Management Corporation that it could finally sell the asset this time....
Consumers’ pockets will finally experience slight relief as prices at petroleum pumps are anticipated to be on moderate rollback next week. Oil companies have calculated prospective price reduction of P0.40 to P0.45 per liter for diesel products; and marginal downward adjustment of P0.10 to P0.20...
Listed firm Aboitiz Power Corporation is accelerating its investment pitch for battery energy storage system (BESS) as added solution in building up the reliability of electricity supply as well as in ensuring stability of power grids, via its 12 projects that will add up 248 megawatts to its...
The consolidated net income after tax (NIAT) of Consunji-led Semirara Mining and Power Corporation (SMPC) nosedived 66-percent to P3.3 billion last year from a robust bottom line outcome of P9.6 billion in 2019. The company attributed the significant income decline to lower energy sales as well as...
Lopez-led Energy Development Corporation (EDC) is scheduling P15 billion worth of bond issuance under its maiden “green bond framework”, of which proceeds will be used to bankroll new renewable energy (RE) projects as well as to refinance loans for existing RE facilities. The company said its...
Top tier incentives, primarily a six-year income tax holiday (ITH), is being sought for energy efficiency projects especially those that shall be undertaken by energy service companies (ESCOs). That has been the call put forward by the Philippine Energy Efficiency Alliance (PE2) in its meeting with...
Power utility giant Manila Electric Company (Meralco) has set P1.8 billion provision for ‘bad debts’ or ‘credit loss’ because of the extended ‘no disconnection’ policy being enforced by the government for consumers that have unpaid bills. “Given that there is an extension on the...
Meralco PowerGen Corporation, the power investment arm of Manila Electric Company (Meralco), is seriously weighing options to shift investment plans into setting up liquefied natural gas (LNG) facilities instead of the previously blueprinted coal-fired power investments. “We should get into the...
