The Energy Regulatory Commission (ERC) indicated that it will be studying the probable rate hikes or cost impact that consumers will have to brace for; once all the gas sale and purchase agreements (GSPAs) for the Malampaya gas field project will expire by next year. ERC Chairperson Monalisa C....
Power utility giant Manila Electric Company (Meralco) said the proposed "fuel swap" arrangement’ aimed at bringing back the 1,200-megawatt Ilijan generating facility to operation cannot be concluded because there was no definitive gas supply commitment from Prime Energy, the new operator of the...
Settlement prices at the Wholesale Electricity Spot Market (WESM) climbed by roughly P1.36 per kilowatt hour (kWh) on average on the two-week duration of the Malampaya gas production facility shutdown, according to a monitoring report by power utility giant Manila Electric Company. The power...
The two-week maintenance shutdown of the Malampaya gas production facility has been completed, without any untoward accidents at the work site, according to the Department of Energy (DOE). “The works were completed with zero incidents recorded. This was achieved through diligent planning and...
The 15-year license extension of the Malampaya gas field project being sought by Prime Energy of the Razon group is now under review by the Office of President Ferdinand Marcos, Jr, according to the Department of Energy (DOE). In a statement to the media, Tuesday, Feb. 14, the DOE stated that it...
As the Malampaya gas field is inching closer to its run-out phase and the country transitions into renewables, President Ferdinand Marcos Jr. has cited the critical role that the liquefied natural (LNG) investment deal of Lopez-led First Gen Corporation and Tokyo Gas Co. Ltd., will bring in...
Malampaya gasfield operator Prime Energy, a subsidiary of Razon-led Prime Infrastructure Capital Inc., is eyeing to extract fresh volume of additional gas by 2026 if the government will approve the firm’s application for 15-year license extension. At the PowerTrends forum, Wednesday, Feb. 8,...
The scheduled repricing of the Malampaya gas on contracted power capacity being delivered to Manila Electric Company (Meralco) is seen tempering the utility firm’s projected upward adjustment in electric bills for February billing cycle. According to Meralco Vice President and Spokesperson Joe...
The Department of Energy (DOE) is aiming for a "no rate hike" scenario that will result from the two-week shutdown of the Malampaya gas production facility this February. If the agency’s calculations will turn out accurate, that will be a "historic first" in such activity in the power system’s...
The roughly 7.5 million customers being served by power utility giant Manila Electric Company (Meralco) will have to brace for P0.7897 per kilowatt hour (kWh) hike in electricity rates as a result of the two-week scheduled shutdown of the Malampaya gas production platform next month. The increase...
Razon-led Prime Infrastructure Capital Inc. has named Martin O’Neil as a new addition into the company’s board of directors. O’Neil was a former executive vice president and chief financial officer (CFO) of International Container Terminal Services Inc. (ICTSI), a flagship company of the...
The Department of Energy (DOE) indicated it is winding up its discussion with the consortium-members of Service Contract (SC) 38 for the targeted license extension of the Malampaya deep water gas-to-power project that will lapse February next year. “At the moment, we are still finalizing the...
