The customers of Manila Electric Company (Meralco) will need to earmark slightly higher budget for their electric bills this month, as the utility firm’s overall tariff had gone up by P0.1853 per kilowatt hour (kWh) to P8.5920 per kWh from the last billing cycle’s P8.4067 per kWh. For...
Norwegian companies that are interested to inject fresh capital into the country’s renewable energy (RE) sector have been batting for the easing of legal restraints on foreign ownership, primarily on solar and wind installations. In a virtual launch of the Report on RE Opportunities in the...
Ayala-led firm AC Energy Corporation has lowered the scale of proceeds it can fetch from its follow-on offering (FOO) to P13.07 billion from a higher end target of P16.4 billion that it first penciled in early this year. The targeted stream of revenues from the FOO though is still very much within...
The Duterte administration is now on its last year stretch, but the government still cannot give a definitive timeframe on when the decision on the propounded license extension of the Malampaya project will be laid down. “We don’t have final decision yet of the DOE (Department of Energy) and...
Renewable energy (RE) companies had been enforced with a moratorium, so they will not demand for penalty or interest payments on any delayed settlements of the feed-in-tariff (FIT) incentives that fund administrator National Transmission Corporation (TransCo) will be paying them. In an advisory,...
Leading oil firm Petron Corporation has bounced back with P1.73 billion net income in first quarter this year, wiping out massive net loss of P4.9 billion posted in the same period in 2020. With improved operational performance, Petron announced that it earmarked P11 billion capital expenditures...
Filipino motorists will need to cough up additional amounts in their fuel budgets as the price of diesel and kerosene products will increase by P0.35 per liter this week, based on the pricing advisories of the oil companies. The price of gasoline, which is the other commodity in the weekly price...
The revenues yielded by the country’s Malampaya gas production facility already topped $11.9 billion (equivalent to P573 billion at prevailing peso-dollar exchange rate) with the national government getting the bulk with a share of P325 billion as of end-December 2020, according to the Department...
Pangilinan-led PXP Energy Corporation has significantly slashed its losses in the first quarter to P5.6 million from a relatively heftier P16.9 million within the same three-month stretch last year. The company’s net loss attributable to equity holders of its parent firm had been at P4.3 million,...
Households can breathe easy on their cooking fuel budgets this month as the price of liquefied petroleum gas (LPG) will be on a rollback of P3.20 per kilogram or an aggregate P35.20 for the standard 11-kg cylinder patronized by most residential users. As of press time, the LPG industry players that...
The prospective bidders in the 650-megawatt Malaya thermal power plant had been trimmed to two companies, from originally 4 to 5 companies, but state-run Power Sector Assets and Liabilities Management Corporation (PSALM) said it is still keen on divesting the facility via a negotiated deal by May 7...
The Department of Energy (DOE) is solidifying partnership with the United States government on policy formulation that the Philippines would be needing for the rebirth of its gas industry that shall be ushered in by liquefied natural gas (LNG) importations. The tie-up of the two governments is...
