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MANILA Electric Co. (Meralco) is asking provisional approval from the Energy Regulatory Commission (ERC) for its P21-billion capital expenditure program for 2019, the biggest component of which is the spending for the expansion of its advanced metering infrastructure.
PHINMA Energy Corp. on Wednesday reported a net loss attributable to equity holders of the parent firm of P91.57 million in the second quarter, reversing last year’s income of P221.87 million in the same quarter last year as revenues slipped while cost and expenses rose.
MALACAÑANG is preparing an executive order (EO) on how best to bring electricity to remote areas by the end of the Duterte administration’s term in 2022, an Department of Energy (DoE) official said.
LOPEZ Holdings Corp. reported a net income of P1.03 billion in the second quarter, higher by 43% compared with year ago’s P721-million profit attributable to the equity holders of the parent firm, with the stable showing of its energy unit boosting the quarterly results.
AC ENERGY, Inc. and its Vietnamese partner have signed construction and financing deals to expand the capacity of their solar farm in Vietnam’s Ninh Thuan province to make it the biggest in Southeast Asia, its parent firm told the stock exchange on Monday.
PILIPINAS Shell Petroleum Corp. reported a net income of P3.12 billion in the second quarter, more than twice the P1.3 billion it recorded in the same period last year as the company posted a double-digit sales growth.
ENERGY Development Corp. (EDC) recorded P4.1 billion in recurring net income attributable to equity holders of the parent firm in the first half, down 21% from year ago’s P5.2 billion.
MERALCO PowerGen Corp. (MGen) is not keen on acquiring the coal-fired power plants being offered by Ayala-led AC Energy, Inc., saying the company’s thrust is towards developing renewable energy.
POWER Sector Assets and Liabilities Management Corp. (PSALM) will continue billing San Miguel Corp. (SMC) based on their independent power producer administrator (IPPA) contract, until a court strikes down its billing method.
MERALCO PowerGen Corp. (MGen) is in talks with multilateral lending agencies for a possible partnership in building merchant power plants to test the financing market that has been used to extend funding only to projects with approved power supply agreements.
STATE-LED Power Sector Assets and Liabilities Management Corp. (PSALM) is preparing a master plan for two properties, including the lot on which the National Power Corp. (Napocor) holds office, to maximize the gains on the assets.
PHOENIX Petroleum Philippines, Inc. reported a 62% increase in net income to P531.11 million in the second quarter, as revenues more than doubled with the surge in sales volume.
THE Department of Energy (DoE) has identified six regions with electrification levels falling below 80% where private ventures will be encouraged to help bring power to barangays, sitios and households.
BUSINESS OPTIMISM in the Philippines slipped last quarter as against the year-ago level, although the country was still second-best in Southeast Asia, according to new research from Grant Thornton.
PETRON CORP. reported a 16% increase in net income to P9.5 billion in the first six months of 2018, as sales volumes in the Philippines and Malaysia were sustained while prices of petroleum products rose.
THE Power Sector Assets and Liabilities Management Corp. (PSALM) has scheduled for next week an auction for the 20,975 square-meter former site of a thermal power plant in Manila.
A NONPROFIT has asked legislators to modify certain provisions of a pending bill promoting energy efficiency to align it with the second phase of Republic Act 10963 or Tax Reform for Acceleration and Inclusion (TRAIN 2), which will repeal incentive provisions of an existing law.
POWER Sector Assets and Liabilities Management Corp. (PSALM) said it is not blaming the Energy Regulatory Commission (ERC) for the interest cost it incurred in securing funding to pay maturing debt.
ALTERNERGY Sembrano Wind Corp. (ASWC) is seeking regulatory approval for its plan to build a point-to-point transmission facility to connect its 81-megawatt (MW) wind power plant to the power line of the Manila Electric Co. (Meralco).
METRO MANILA’S two private water concessionaires plan to spend a combined P183.531 billion starting this year through 2022 for projects that will allow them to meet the requirements of their concession agreement, including service continuity and water security.
THE National Electrification Administration (NEA) will be receiving from the national government a budget of P1.163 billion for next year, significantly lower than this year’s funding.
THE ENERGY Regulatory Commission (ERC) has directed distribution utilities to submit within 15 days documents relating to electricity consumers’ bill deposits, including the total amount collected, refunded and the balance remaining with them.
ABOITIZ EQUITY Ventures, Inc. (AEV) reported a first-half net income of P10.1 billion, lower by 2% compared with the P10.3 billion it recorded a year ago as the holding firm continued to suffer non-recurring foreign exchange losses on its dollar-denominated debt.
SOLAR PHILIPPINES Tarlac Corp. has offered to sell electricity to Manila Electric Co. (Meralco) at P2.34 per kilowatt-hour (kWh), challenging a previous offer from a competitor at P2.98 per kWh in a move that could become the latest benchmark in pricing solar energy.
WATER RATES in Boracay will not be adjusted after the decision of the island’s water regulator to discontinue the 14.34% decrease in the company’s foreign currency differential adjustment (FCDA), Manila Water Co., Inc. told the stock exchange on Wednesday.
METRO PACIFIC Investments Corp. (MPIC) has joined local and foreign companies that have signified their intention to build a liquefied natural gas (LNG) import terminal ahead of the depletion of the country’s lone source of the fossil fuel — the Malampaya offshore gas field.
AYALA-LED AC Energy, Inc. expects 70% of its target 1,000-megawatt (MW) installed renewable energy capacity by 2020 to come from its foreign projects, including its investments in Vietnam, Indonesia and Australia, its top official said.
THE Department of Energy (DoE) on Tuesday formally relinquished the chairmanship of the Philippine Electricity Market (PEM) board, paving the way for the assumption by an independent market operator (IMO) of the functions previously led by the Energy secretary over the country’s wholesale electricity spot market (WESM).
HOUSEHOLDS are set to save up to P2,033.76 a year on electricity payments if a plan to use the P204-billion Malampaya fund to reduce the universal charge materializes.
ABOITIZ POWER Corp. said its board of directors had approved the issuance of fixed-rate retail bonds amounting to P27 billion out of the P30-billion bonds it had registered in 2017 under the shelf registration program of the Securities and Exchange Commission (SEC).