At least 20 distribution utilities (DUs), including electric cooperatives, in the Luzon grid had been ordered to refund over-collections to their customers; and their mandated paybacks range from P0.0014 to P0.6266 per kilowatt hour. (MANILA BULLETIN) According to the Energy Regulatory Commission...
The Ayala-owned ACE Enexor Inc., an upstream oil and gas investment subsidiary, has announced its formal withdrawal from Service Contract (SC) 6, which is a petroleum exploration block in Northwest Palawan. A disclosure to the...
Motorists can expect either a steady price for diesel next week or a measly rollback of P0.05 per liter, based on the initial calculation of the oil companies. Gasoline prices though will go up slightly by P0.20 to P0.25 per liter; while kerosene prices may go down by P0.20 to P0.25 per liter. This...
The aggregate 2,267,580, 434 common shares tendered by Ayala-led AC Energy Corporation (ACEN) via its stock rights offering (SRO) had been fully subscribed and had fetched proceeds of more than P5.37 billion. During the formal listing of ACEN’s stock rights offer at the local bourse, Philippine...
The gas output of the Malampaya field was significantly down last year to 107.902 billion standard cubic feet (bscf) from an all-time high of 155.495 bscf in 2019 - and that was mainly attributed to demand crash because of slowdown in economic activity triggered by the Covid-19 pandemic. According...
Given manifest uptick in power demand for January supply month, the electricity rates to be billed by Manila Electric Company (Meralco) is anticipated to be on downtrend for February billing. Meralco Vice President for Corporate Communications and Spokesperson Joe Zaldarriaga indicated that final...
The high cost of advanced metering infrastructure (AMI) technology has been hobbling targets of massive rollout of smart meters in the country, because many Filipino consumers would not be able to afford any abrupt technology shift. According to Jaime Jose Aboitiz, executive vice president and...
The number of proposed investments that were classified as “energy projects of national significance” (EPNS) climbed by P113.58 billion as of end-December last year to P795.52 billion compared to a leaner P681.94 in the first half of 2020. In documents released by the Department of Energy (DOE)...
Given the unremitting jolt on workplaces brought about by the Covid-19 pandemic, the Energy Regulatory Commission (ERC) announced that it has revised its Rules of Practice and Procedure (RPP) so this can keep pace with the ‘new normal setting’ in the regulation of the energy sector. As pointed...
The board of directors of Ayala-led AC Energy Corporation (ACEN) has greenlighted the joint venture deal that the conglomerate’s energy investment arm will be cementing with Solar Philippines Power Project Holdings Inc. (SP) of millennial-businessman Leandro L. Leviste. In a disclosure to the...
Filipino consumers will gain slight relief in their pockets this week as the price of gasoline will be rolled back by P0.15 per liter at the pumps; while diesel will have price reduction of P0.10 per liter. The price downtrend for kerosene product in this round of adjustment is also at P0.10 per...
The P65 billion worth of liquefied natural gas (LNG) import terminal projects cornered by the government had been proposed for pioneer incentives availment under the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Bill that is under continued deliberations in Congress....
