SP New Energy Corporation (SPNEC), a member of the Meralco Group of companies, has turned profitable in the first quarter of 2024 with a net income of P156 million and an attributable net income of P47.5 million from a loss of P24.57 million in the same period last year. Based on its disclosure to...
A subsidiary of Yuchengco-led PetroGreen Energy Corporation (PGEC) has inked a 10-year power supply agreement (PSA) with SN Aboitiz Power Group (SNAP) for the supply of 15.6 megawatts (MWac) from the former’s solar facility in Nueva Ecija. The corporate entity of the Yuchengco group which...
The tides are turning in the deregulated downstream oil industry, as French multinational TotalEnergies is reportedly taking its exit from the Philippine downstream oil industry, with its planned asset sale to the Villavicencio group. TotalEnergies Philippines counts more than two decades of...
As supply in the Luzon grid remains wobbly, the Energy Regulatory Commission (ERC) indicated that it will finally act on the deferred pass-on of cost recoveries for the new gas sale and purchase agreement (GSPA) on fuel for power generation lifted from the Malampaya gas field. “On the GSPA,...
Consumers who are filling up their vehicles with gasoline products will be the happiest in their drive to the petroleum pumps next week, as the price of this commodity is projected to have a rollback of more than P2.00 per liter. Based on the result of four-day trading in the regional market, the...
A substantial financial breather may finally come at the pumps next week for consumers who are filling up their vehicles with gasoline products, as the price of this commodity is anticipated having a rollback in the vicinity of P2.00 per liter. Based on the outcome of three-day trading in the...
The electric bills to be dispatched by power utility giant Manila Electric Company (Meralco) and other power utilities will practically be knocking on forbidden doors this May – but consumers will have no choice but to finally face the ‘fear factor’ of soaring expenses for electricity...
As surging temperatures had unsparingly beaten down energy facilities in this year’s El Niño stricken summer months, the Energy Regulatory Commission (ERC) indicated that ‘heat wave’ will be added as metrics in determining the reliability indices for power facilities, primarily the electric...
Probabilities of rotational brownouts could wreck some parts in the Visayas, as system operator National Grid Corporation of the Philippines (NGCP) raised alarm on the critical state of overloading at the 69-kilovolt (kV) Amlan-Siaton transmission line in the grid. Prompted by that dilemma, NGCP...
Renewable power pioneer Alternergy Holdings Corp. has secured a green corporate loan to continue constructing its renewable power projects for 2024. Alternergy announced on Wednesday, May 8, that it will have a P4 billion green corporate loan to be utilized for projects like the Tanay and Alabat...
Pangilinan-led SP New Energy Corp (SPNEC) is targeting to conclude sell-down of up to 40% of its shareholdings to foreign firms that will be willing to infuse capital into its 3,500-megawatt Terra Solar power project to be integrated with 4,500-megawatt hours (MWh) of energy storage system....
(Unsplash) Sta. Rosa City lone district Rep. Dan Fernandez is prodding the Energy Regulatory Commission (ERC) to withhold action on power supply agreements (PSA) between the Manila Electric Co. (Meralco) and two generating firms pending final...
