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Insurers evaluating pay-per-use, small payments as users tighten belts

INSURERS said they are adjusting to the economic damage sustained by their clients during the pandemic by evaluating products like pay-per-use auto coverage and offering schemes that feature smaller payments.

Energy dep’t approves formation of new WESM compliance committee

A NEW committee overseeing the electricity spot market will be formed soon to monitor its operations and adjudicate rules breaches, the Department of Energy (DoE) said.

Energy committee chairman flags P2.5B in unliquidated subsidies to rural utilities

THE National Electrification Administration (NEA) violated its own policy of halting subsidies to rural utilities with a backlog of unliquidated previous funding, the chairman of the Senate energy committee said.

Loss of domestic refining seen driving up PHL fuel costs; risks...

THE Philippines will have to spend more on imported petroleum products over the coming years should it be left with one domestic refinery or...

Rural utilities warn delayed bill payments to have serious impact on...

THE delayed payment of power bills during the entire quarantine period will have a serious impact on the entire power supply chain, electric cooperatives...

First Gen seeks ship bids

LOPEZ-LED First Gen Corp. has issued bid invitations to its three preferred providers of a natural gas transfer vessel to be used in its short-term import terminal in Batangas.

PNOC defers strategic oil reserve feasibility study to next year

PHILIPPINE National Oil Co. (PNOC) said it moved back the start of its feasibility study on establishing a strategic petroleum reserve next year due to delays caused by the coronavirus pandemic.

Phoenix, Autoworx Plus team up for sanitation services at stations

PHOENIX Petroleum Philippines, Inc. has placed sanitation hubs at select fuel stations, offering professional car cleaning and disinfection services.

Gov’t to borrow P38B to fund Murang Kuryente obligations next year

THE GOVERNMENT will need to borrow around P38 billion to cover the full cost of its obligations under the Murang Kuryente Act because the budgeted funds amount to only P8 billion, the Power Sector Assets and Liabilities Management (PSALM) Corp. said.

PHL won’t give up arbitral win over joint exploration

THE Philippines maintained it will not set aside its arbitral win against China over disputed areas in the West Philippine Sea just to proceed with joint oil and gas development, the country’s energy chief said on Monday.

AC Energy, partner to build $36-M solar farm in India

AYALA-LED AC Energy, Inc. and its partner are expanding their network in India with another solar farm in the pipeline.

Higher LPG sales lift Pryce’s third-quarter profit 

PRYCE CORP. on Monday reported a 1.24% rise in its net profit between July and September to P1.222 billion over a year ago as it saw growth in liquefied petroleum gas (LPG) sales.

Groups want MGen coal plant project’s ECC declared expired

VARIOUS anti-coal groups have asked the government to declare the expiration of the environmental compliance certificate (ECC) of Meralco Powergen Corp.’s (MGen) large coal power plant project in Quezon province as its construction was supposedly delayed for five years.

Regional Updates (10/18/20)

RESIDENTS from anywhere in Luzon can visit Baguio again starting October 22, the city government announced Sunday.

Lifting exploration ban won’t affect China deal — energy chief

A government decision to resume exploration activities in the South China Sea will not affect its non-binding deal with China to jointly explore gas...

Robinsons Retail acquires Rose Pharmacy

Gokongwei-led Robinsons Retail Holdings, Inc. is now the new owner of Cebu-based Rose Pharmacy. On Friday, the retailer said its wholly owned subsidiary South Star...

AC Energy infuses more funds into Bataan Solar

Ayala-led AC Energy Philippines, Inc. (ACEN) is investing more funds into the development of a solar facility in Bataan. The power company told the stock...

US firm seeks Philippine LNG projects

THE United States-listed New Fortress Energy LLC (NFE) will be screening for investment opportunities in the country for future liquified natural gas (LNG) projects.

Rural utilities post growth in sales, revenues in 2nd quarter

RURAL utilities posted a collective rise in energy sales and revenues between April and June on increased power usage of their residential consumers.

DoE may issue new subsidy policy for power supply to remote...

THE Department of Energy (DoE) is studying a new policy for subsidies on power supplied to remote areas, including the removal of missionary charges currently being paid by consumers.

Coal, hydro plants expected to mitigate Malampaya shutdown

THE possible uptick in power prices next month due to maintenance on the Malampaya field can be cushioned by dispatching more power from baseload coal and hydropower plants, the independent market operator said.

Regulator may extend freeze order vs power cuts to end of...

THE Energy Regulatory Commission (ERC) said it will require power distributors to extend the moratorium on power disconnections until the end of the year.

LNG imports still ‘best option’ for PHL energy security — DoE

LIQUIFIED NATURAL GAS (LNG) imports remain the best way to address the Philippines’ power needs in the next few years, the Secretary of Energy said.

MGen’s solar project in Bulacan set for grid impact study

THE Department of Energy (DoE) signed off the solar farm project of Meralco Powergen Corp. (MGen) for a grid impact study.

More power consumers seen joining RCOA by 2021

THE Energy Regulatory Commission (ERC) said it is targeting more participation next year in a scheme allowing consumers to select a preferred electricity provider.

State lacks cash to buy into SPEx stake in Malampaya –...

THE PHILIPPINE GOVERNMENT does not have the cash now to buy into Shell Philippines Exploration, B.V.’s (SPEx) stake in the country’s sole natural gas field as the ongoing pandemic drained its financial resources, according to a senator.

Phoenix emerges as third-largest oil player

PHOENIX Petroleum Philippines, Inc. cornered more fuel demand in the country, placing itself now among the three biggest Philippine oil industry players.

AboitizPower bags First Bay’s supply contract

ABOITIZ POWER Corp. has secured the supply contract of First Bay Power Corp., extending their partnership which spanned for more than a decade ago.

BPOs focusing investment on skills upgrade

THE technology and outsourcing industry said it needs to invest heavily in worker reskilling to come out stronger after the pandemic, which has accelerated the digital shift while also forcing companies to find effective ways to work under quarantine.

DoE to appeal CA ruling on oil price transparency order

THE Department of Energy (DoE) said Thursday that it will appeal a Court of Appeals (CA) ruling which blocked the implementation of its plan to make oil companies reveal the cost structures underlying their retail pricing strategies.

First Gen picks LNG terminal builder

LOPEZ-LED First Gen Corp. has chosen the local unit of an Australian contractor to build its interim liquefied natural gas (LNG) terminal in Batangas, while it steps up its partnership with Japan’s Tokyo Gas Co., Ltd.

Fuel demand drops 23% during pandemic

THE Department of Energy reported a 22.8% drop in total petroleum demand in the six months to June, with fuel imports declining by 35.4%.

Gov’t told to prepare for emergency before reviving nuclear plant

THE GOVERNMENT must lay out contingency measures and environmental safeguards before reopening the mothballed Bataan Nuclear Power Plant (BNPP), a senator said on Tuesday.

Consumers seek suspension of power disconnections

A CONSUMER group on Tuesday asked the government to halt power disconnections resulting from the non-payment of electric bills during the height of the lockdown. 

PSALM cuts bid price for Malaya plant anew

STATE-OWNED Power Sector Assets and Liabilities Management Corp. (PSALM) has reduced the floor price for the Malaya Thermal Power Plant to P2 billion, as it seeks a negotiated sale for the property after another failed bidding last month.

DoE wants renewable energy to power new or retrofitted buildings

NEW buildings and establishments that will undergo renovations will soon be required to source a portion of their power requirements from renewable sources.

Lawmaker hits bigger budget for mothballed nuclear plant

STATE-OWNED National Power Corp. (Napocor) has sought a bigger budget for next year to preserve the mothballed Bataan Nuclear Power Plant (BNPP).

DoE exploring energy efficiency initiatives in remote areas

THE Department of Energy (DoE) is seeking to promote energy efficiency investment in remote areas, specifically for agriculture and the so-called “last mile” of power service delivery to rural communities.

Uy says ‘all systems go’ for Cebu casino as PSE clears...

PH Resorts Group Holdings, Inc. (PHR) is set to list its follow-on offer of P1.125 billion shares after securing the approval of the bourse. In...

Oscar Lopez steps down from Lopez Holdings

Lopez Holdings Corp., the parent company of ABS-CBN Corp. and First Philippine Holdings Corp., announced on Friday a shakeup in its board composition after...

Filinvest launches collaboration program with startups

Gotianun-led Filinvest Group has launched a program that connects its companies to various startups for their digital transformation. The conglomerate through f(dev), its latest corporate...

SM Investments issues P10-B bonds

SM Investments Corp. on Friday issued P10-billion fixed-rate bonds, the first tranche of its three-year debt program. The conglomerate told the stock exchange that it...

Consumer group seeks refund of excess missionary power charge

A consumer group is seeking a refund of possible over-collections in the missionary electrification charge, citing the declining fuel costs of beneficiary power generators. The...

Ayala group picks Spanish firm for Australia solar farm

AYALA-LED AC Energy, Inc. and its partner in Australia have tapped a Spanish-listed contractor to build their large-scale renewables project.

PHL power sector risk increasing amid weak consumption, construction halts

RISKS in the Philippine power sector are increasing as the pandemic pressures both demand and new-build plant construction, Fitch Solutions Group said in a research note.