State-run Power Sector Assets and Liabilities Management Corp. (PSALM) is demanding the Olongapo City government to pay its long overdue unpaid electricity bills incurred for over a decade, the Department of Finance (DOF) said. In a statement released by the DOF, it said that PSALM sent a final...
Filipino-led firm SPC Power Corporation has declared P598.620 million worth of cash dividends to its shareholders that shall be payable before the end of this year. In a disclosure to the Philippine Stock Exchange (PSE), the company indicated that the cash dividend was equivalent to P0.40 per...
As Christmas shopping rush escalates, Filipino motorists will also need to shore up their expenses for fuel as diesel prices will go up by P0.40 per liter this week; and gasoline prices will increase by P0.25 per liter. Kerosene, which is the other commodity in the triumvirate of weekly cost...
The 17-year wait is finally over for the dismissed employees of state-run National Power Corporation (NPC), as the Power Sector Assets and Liabilities Management Corporation (PSALM) already allocated P3.702 billion for their payment-claims. According to PSALM President Irene B. Garcia, the company...
While renewable energy (RE) developers are brandishing that their technologies are already the cheapest in the market, the National Renewable Energy Board (NREB) ironically dropped the bomb that the programmed RE projects in the country will increase the power bills of Filipino consumers by P0.23...
State-run Power Sector Assets and Liabilities Management Corporation (PSALM) is gaining traction on its divestment of real estate assets, with it successfully clinching buyers for the Loboc property in Bohol province; and another one in Camalaniugan, Cagayan province through a negotiated deal. The...
Consumers will still need to allot more for their fuel budgets next week as pump prices will rise again, although at a leaner magnitude, based on the calculation of the oil companies. As estimated, the price of gasoline will go up by P0.20 to P0.25 per liter while diesel will have an increase of...
To ensure that even people who are slow to understand and unwilling to listen will clearly hear it, Energy Secretary Alfonso G. Cusi twice stipulated that the Philippines “cannot really get rid of coal” even on its future energy mix onward to 2040. In an updated Philippine Energy Plan (PEP)...
Customers of Manila Electric Company (Meralco) will not need to be anxious on their December electricity bills, as initial forecast point to “flattish rate” or there could be very slight cost movement in the overall tariff. “Initial data suggests that generation costs for December will be...
As the Duterte administration inches closer to its tail end stretch, the Department of Energy (DOE) will knock anew on investors’ doors for prospective fresh capital flow to various projects being offered across segments in the energy sector. Coinciding with the celebration of the National Energy...
Japanese firm Mitsubishi Power, a subsidiary of Mitsubishi Heavy Industries (MHI) Group, has cornered the contract for the upgrade of the 458-megawatt Makiling-Banahaw geothermal power facility that is owned and operated by AP Renewables Inc. (APRI) of the Aboitiz group. Under the deal, Mitsubishi...
Uy-led Phoenix Petroleum Philippines Inc. has approved and crossed at the Philippine Stock Exchange (PSE) on Tuesday (December 1) the sale of 31 million of its treasury common shares. The oil firm said the treasury shares had been traded at the local bourse at the market price of P12.50 per share....
