West zone concessionaire Maynilad Water Services, Inc. invested nearly ₱26 billion in capital expenditure (capex) last year to improve water and wastewater services in its service area. In a statement on Tuesday, March 11, Maynilad reported spending ₱25.75 billion on capex projects...
Owing primarily to favorable outcome of its better inventory holdings, major oil firm Shell Pilipinas Corporation posted significant hike of 1,320 percent in its first half net income to P1.7 billion from relatively lean profit of P123 million in the same period last year. The company indicated...
By MYRNA M. VELASCO The magnitude of loans extended to the country’s electric cooperatives (ECs) had already surpassed P870 million mark within the first six months of the year, according to the National Electrification Administration. The government-run electrification agency specified that at...
System operator National Grid Corporation of the Philippines (NGCP) forthrightly stated that it can deliver more transmission projects to commercial completion if approvals of the Energy Regulatory Commission (ERC) on its cost recoveries for invested capital could be granted promptly. “With...
Anchoring it on a ‘refreshed strategy’, listed firm Shell Pilipinas Corporation will be tightening its belt with leaner capital expenditures (capex) rollout of just P2.0 billion to P3.0 billion this year, roughly half from last year’s P5.0 to P6.0 billion of programmed capital spending....
With its power generation assets as income driver, this year’s first quarter earnings of Aboitiz Power Corporation jumped by 4.0% to P7.9 billion from year-ago level of P7.5 billion within comparative period in 2023. Without the non-recurring items, the company qualified that its profits would...
Ayala-led ACEN Corporation will be rolling out $1.6 billion worth of capital for 1,600 megawatts (1.6 gigawatts) of greenfield renewable energy (RE) projects that it will be advancing at its home base in the Philippines, as well as in India and Australia. In a media briefing, ACEN President and CEO...
The Philippine Statistics Authority (PSA) has reported a reduction in government spending on disaster risk reduction last year. Data from the PSA showed that the public expenditure on disaster risk reduction activities amounted to just over P315.89 billion in 2022, a 52 percent decrease from the...
The Energy Regulatory Commission (ERC) will start enforcing guidelines on the capital expenditures (capex) as well as procurements of regulated power utilities, as these cost items are being factored into the calculation of the overall tariff being passed on to consumers. The regulatory body noted...
Total loans extended by the National Electrification Administration (NEA) to at least 18 electric cooperatives (ECs) topped P560 million in the first half of the year. Based on data released by NEA’s Accounting Management and Guarantee Department (AMGD), the power utilities serving consumers in...
Transmission firm National Grid Corporation of the Philippines (NGCP) is advancing its plea for regulatory support -- primarily on the removal of caps and for the timely approval of its capital expenditure (capex) program, so it can inject much-needed investments for the massive-scale integration of...
The Commission on Audit (COA) issued a notice of disallowance (ND) against the Overseas Workers Welfare Administration (OWWA) for irregularities pertaining to their acquisition of P1,272,457 worth of Covid-19 supplies. The seal of the Commission on Audit In an audit released Tuesday, July 5, COA...
