Year-ender Today, I give you pain. Tomorrow, who knows? For industry players in the energy sector, that’s their tale of woe this year given decimated top and bottom lines with demand crash on energy commodities. Onward, uncertainties hold sway. At the height of the lockdown period in March-May,...
Electricity consumers will be greeted with a “Happy New Year rate hike” as they will need to pay more as subsidy to renewable energy (RE) projects via the feed-in-tariff allowance (FIT-All) line item in the electric bills that had been jacked up to P0.0983 per kilowatt hour (kwh), almost double...
Ayala-led AC Energy Philippines Inc. (ACEN) has slated February next year as the offer period for its stock rights offering (SRO), in which 2,267,580, 434 common shares will be issued. The stock listing has been priced at P2.37 per share, based on approval that it had secured for its SRO from the...
Despite the perceived low capitalization of US$50 million dangled to foreign investors for integrated geothermal resource exploration and power plant development in the country, the Department of Energy (DOE) disclosed that there are no takers yet of the blocks being offered by the government....
Remittances to local government units (LGUs) hosting energy projects reached as much as P4.155 billion this year, according to a report from the Department of Energy. The fund share of the host communities is based on the prescription of Energy Regulations (ER) 1-94 wherein they are entitled to...
The energy investment arm of the Ayala group will be injecting additional investments of P10.81 billion for greenfield solar and wind power projects in the Luzon grid. AC Energy President and CEO Eric T. Francia The board of directors of AC Energy Philippines had green-lighted secured loan...
The Philippine Economic Zone Authority (PEZA) has given the Green, Healthy, Smart, and Sustainable Ecozone Award to Lopez-led First Philippine Industrial Park (FPIP) for its “notable commitment to promoting healthy industrialization and sustainably-designed, smart, and green economic zone.”...
The government is currently studying if it can establish “technical justification” that will allow higher percentage of foreign investors’ shareholdings in renewable energy (RE) projects, primarily for wind and solar ventures. That policy option is currently being studied by the Department of...
The board of directors of First Gen Corporation approved the declaration of cash dividends on array of its preferred shares that shall be paid to its shareholders by January next year. The company, in its disclosure to the Philippine Stock Exchange (PSE), stated that it will extend cash dividend 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)...
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...
The downstream oil subsidiary of Chevron Corporation has named Billy Liu as its new Country Chairman and General Manager, replacing Louie Zhang who recently retired following more than three decades of service in the American firm. In taking the top post at Chevron Philippines Inc. (CPI), Liu will...
