The Tiwi and Makiling-Bahanaw geothermal plants have started supplying the electricity requirements of American financial services company Wells Fargo through the retail electricity supplier (RES) agreement that the parties have entered into. Wells Fargo Philippines, McKinley Hill, Bonifacio Global...
A consortium led by Hong kong-based First Pacific Company Limited of businessman Manuel V. Pangilinan has submitted last week its “final non-binding offer” to acquire the 45-percent stake of Shell Philippines Exploration B.V. (SPEX) in the multi-billion dollar Malampaya deep water gas-to-power...
Owing mainly to the coronavirus pandemic-induced sales decline, the core net income of Manila Electric Company (Meralco) went down 9.0-percent to P21.711 billion last year from a robust bottom line outcome of P23.832 billion in 2019. The utility firm’s reported net income suffered an even deeper...
The Department of Energy (DOE) has laid down a policy allowing “one-year banking” of credits that an end-user may claim under the net metering program in the renewable energy (RE) sector. Under the proposed ‘banking of net metering credits’ as institutionalized under DOE Circular No....
The relentless rise in fuel prices will continue this week for all fuel products, including that of liquefied petroleum gas (LPG), which is the preferred commodity by most Filipino households for cooking. As advised by the oil companies, gasoline prices will increase by P1.00 per liter in this...
At least 13 new customers – mostly buildings and water pumping stations in Metro Manila that include Maynilad Water Services Inc. – have switched electricity suppliers following the threshold lowering of the Retail Competition and Open Access (RCOA) policy by February this year. In a briefing...
Expenses for fuel will take its pinch on consumers’ pockets again this week, with substantial increases calculated across products that are retailed at the pumps due to the continuously rising prices in the world market. Based on estimates of the industry players, gasoline prices will go up by...
Pangilinan-led PXP Energy Corporation has substantially trimmed its consolidated net loss last year to P76.3 million compared to a considerably enormous scale of P297.2 million in 2019. On a core net loss basis, the company was also able to bring that down to P45.7 million in 2020 versus the...
With cyclical temperature rise, the operator of the Wholesale Electricity Spot Market (WESM) is forecasting demand increases during the summer months, primarily around April to May this year. Nevertheless, according to Engineer John Paul Grayda, manager for pricing validation and analysis of...
Diversified conglomerate San Miguel Corporation (SMC) is inclined to resolve at the negotiating table the P23.94 billion billing dispute of its subsidiary South Premiere Power Corporation (SPPC) with state-run Power Sector Assets and Liabilities Management Corporation (PSALM) for the 1,200-megawatt...
Customers of Manila Electric Company (Meralco) can expect financial relief on their electric bills next month, as this is expected to be on downtrend, according to company Vice President and Spokesperson Joe Zaldarriaga. “Based on initial projections, there is a strong likelihood that power rates...
The country’s electric cooperatives (ECs) are prodded to undertake their competitive selection process (CSP) on power supply agreements (PSAs) to guarantee that they will not suffer supply shortages in the immediate term, especially with the portended economic recovery post-pandemic. To ensure...
