After suffering from slump on customer-payments at the height of the lockdown period in March to May, power utility giant Manila Electric Company (Meralco) logged all-time high collection of P27.6 billion on its dispatched bills in September. The company said it was the heftiest level of collection...
Greenfield power projects that will feed on imported liquefied natural gas (LNG) have been emerging as ‘hot investment contest’ in the restructured electricity sector, and Aboitiz Power Corporation announced that it is inclined to join the forthcoming wave of capital spending for the...
The moratorium on new coal-fired power projects will only cover yet-to-be-proposed investments, according to Energy Secretary Alfonso G. Cusi. In a virtual press briefing, he classified that even the indicative projects will still have to be processed by the Department of Energy (DOE) and these may...
The Philippine government has directed Pangilinan-led PXP Energy Corporation to go ahead with its programmed seismic survey and well drilling at the Recto Bank even without securing first the concurrence of China National Offshore Oil Corporation (CNOOC) or that of the Chinese government. Energy...
With depressed power demand because of the niggling impact of the coronavirus pandemic, the consolidated net income of Aboitiz Power Corporation had dipped 32-percent to P3.3 billion in this year’s third quarter versus P4.8 billion in the same period in 2019. In the nine-month duration, the...
In the spirit of ‘civic unity’ or bayanihan, the country’s electric cooperatives (EC) are deploying hundreds of their workers so electricity service restoration in the typhoon-crumbled provinces in the Bicol region could be stepped up. The Philippine Rural Electric Cooperatives Association...
State-run Power Sector Assets and Liabilities Management Corporation (PSALM) will need to borrow P38.4 billion this year to augment the funds needed for the power rate reduction subsidy mandated under Republic Act 11371 or the Murang Kuryente Act (MKA) that was signed by President Rodrigo Duterte...
From mammoth losses incurred in the first semester, leading oil firm Petron Corporation bounced back with P1.63 billion net income in the third quarter of this year and that was propelled mainly by stronger performance on the retail segment of its business. The oil firm classified that it was still...
Government policymakers are being urged to save Petron refinery from its shutdown plan, because it is the only remaining strategic asset that could ensure the country’s energy security goals. Photo credit: https://www.petron.com/ Senate Committee on Energy Chairman Sherwin T. Gatchalian advanced...
Registration with the operator of the Wholesale Electricity Spot Market (WESM) will no longer be mandated if retail competition and open access (RCOA) will already reach the level of household consumers, according to the Independent Electricity Market Operator of the Philippines (IEMOP)....
As many consumers are still reeling from the impact of super typhoon Rolly, the oil companies offer some bit of good news as the price of diesel will be on rollback by P0.85 per liter; while gasoline prices will be slashed by P0.80 per liter this week. For kerosene, which is a commodity that will...
A day after super typhoon Rolly pummeled the Bicol region, the Department of Energy (DOE) reported that consumers in the severely battered provinces of Albay, Camarines Norte, Camarines Sur, Sorsogon and Catanduanes are still agonizing from total blackouts. A tricycle speed past toppled electric...
