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Meralco core net income up 2% to P5.7B in first quarter

THE Manila Electric Co. (Meralco) on Monday reported a 2.1% growth in core net income in the first quarter to P5.72 billion as energy sales proved strong amid the global coronavirus disease 2019 (COVID-19) pandemic.

COVID-19 hospital to rise in Clark, treatment centers to open in...

THE government on Friday said it will set up a coronavirus disease 2019 (COVID-19) hospital in New Clark City (NCC) and will continue to convert more facilities in Metro Manila to accommodate COVID-19 patients in partnership with the private sector.

Meralco says electricity supply steady during Luzon lockdown

MANILA ELECTRIC CO. (Meralco) said it is working around the clock to ensure a steady supply of electricity and services amid the Luzon-wide enhanced community quarantine.

Meralco suspends meter reading, bill delivery

MANILA ELECTRIC Co. (Meralco) told its electricity customers on Friday that it deferred physical meter reading and bill delivery as Luzon is currently under an enhanced community quarantine to contain the spread of COVID-19 (novel coronavirus disease 2019).

Meralco core income up 6.3%

MANILA Electric Co. (Meralco) reported a 6.3% growth in 2019 core net income to P23.83 billion as the power distribution utility recorded strong energy sales with the steady electricity usage by customers in online casinos and business outsourcing firms.

DoE asks Meralco how it will address rising demand

THE Department of Energy (DoE) has asked Manila Electric Co. (Meralco) on how the country’s largest electricity distribution company plans to cope the rise in power demand within its franchise area, the secretary said.

Meralco plans more automated substations

MANILA Electric Co. (Meralco) targets to build more fully automated substations next year ahead of the expected increase in the demand for power, adding to the distribution utility’s investments in technologically advanced facilities within its franchise area.

Meralco rejects condition set by Cusi for new CSP

MANILA Electric Co. (Meralco) will call for bidders to supply 1,200 megawatts (MW) of energy capacity by using one set of terms for new power plants and a different one for existing facilities, going against the suggestion of the Department of Energy (DoE) to open the competitive selection process (CSP) without such distinction, its president said.

Meralco on track to hit P23-billion core income target for this...

MANILA Electric Co. (Meralco) expects to post a core net income of at least P23 billion for 2019 as the country’s largest distribution utility has managed to sustain its performance so far this year, company officials said.

Ghana gov’t terminates concession for ECG

MANILA ELECTRIC Co. (Meralco) said on Tuesday that the concession for the operation and maintenance of the assets of the Electricity Company of Ghana (ECG) has been terminated by the Ghanian government.

Meralco group’s market share shrinks after RCOA

THE RETAIL electricity supply business of Manila Electric Co. (Meralco) has significantly lost market share since rules on retail competition and open access (RCOA) were implemented, although the distribution utility has gained some ground in recent months, the latest report from the Philippine Electricity Market Corp. (PEMC) showed.

SC: Meralco’s unbundled rates for review

THE SUPREME Court (SC) has ordered the Energy Regulatory Commission (ERC) to review the unbundled rates of Manila Electric Co. (Meralco) to ensure that consumers pay “in the least cost manner.”

Meralco to invest P424 million in MGreen’s solar power projects

MANILA Electric Co. (Meralco) said on Tuesday that its board of directors had approved the request of a subsidiary’s unit for a P424.2-million equity funding for its solar projects under development with a combined capacity of 210-megawatt peak (MWp) and a total estimated project cost of P10.01 billion.

Quezon power plant gets ERC green light to operate

MANILA Electric Co. (Meralco) has secured provisional authority from the Energy Regulatory Commission (ERC) to start operating San Buenaventura Power Ltd.’s (SBPL) 500-megawatt (MW) coal-fired power plant and provide baseload capacity to the Luzon grid.

Ayala, SMC units bag Meralco supply contracts

MANILA Electric Co. (Meralco) has awarded power supply agreements (PSA) covering 1,200 megawatts (MW) to units of San Miguel Corp. (SMC) and Ayala’s AC Energy, Inc.

Meralco rates down for fifth month

HOUSEHOLDS in Metro Manila will see lower electricity bills for the fifth straight month in September, according to the Manila Electric Co. (Meralco).

ERC approves Meralco’s withdrawal of 3 PSAs

THE Energy Regulatory Commission (ERC) has approved Manila Electric Co.’s (Meralco) application to withdraw its power supply agreements (PSA) with three power generating companies after the Supreme Court ordered them to first go through competitive bidding before forging the deals.

Meralco prepares to showcase vehicle-to-grid project

MANILA Electric Co. (Meralco) expects to complete “soon” a study that will prove whether electric vehicles (EVs) can help power the grid and help ease energy demand during times when supply is deficient.

Meralco Q2 core profit up 13%

MANILA Electric Co. (Meralco) grew its core net income by 13.2% to P6.72 billion in the second quarter, in part brought about by the minimal weather disturbance and lower inflation, company officials said on Monday.

Meralco plans more microgrids

MANILA Electric Co. (Meralco) is looking outside its franchise area to build microgrids similar to its hybrid system on Cagbalete Island, company officials said.

Meralco seeking ERC nod for emergency capex

MANILA Electric Co. (Meralco), the country’s largest power distribution utility, is seeking approval from the energy regulator for an emergency capital expenditure (capex) of up to P15.19 billion to cover its 2020 projects, nearly a third of which are to fund “very urgent major projects.”

Leading the future of energy in the Philippines

Manny V. Pangilinan has ever been the face of energy in recent Philippine memory. With good reason, with him chairing the most important energy...

The makings of a leader

Passion and Philosophy: Atty. Ray C. Espinosa As the newly-appointed president and chief executive officer of a company as prominent as the Manila Electric Co. (Meralco),...

A growth enabler

Passion and Philosophy: Atty. Ray C. Espinosa Before Ray C. Espinosa assumed the position of president and chief executive officer (CEO) of the country’s biggest power...

A fruitful year

Passion and Philosophy: Atty. Ray C. Espinosa The year 2018 was an especially good year for the Philippines’ largest electric distribution company, the Manila Electric Company...

Meralco willing to undergo competitive selection process to allow Atimonan construction...

MANILA Electric Company (Meralco) is willing to undertake the competitive selection process (CSP) in order to allow the construction of the Atimonan coal-fired power plant to start.

Meralco core net income rises 14% in Q1

LISTED distribution utility Manila Electric Co. (Meralco) said its core net income rose 14% to P5.6 billion in the first quarter, despite a “modest” 2% growth in energy sales volume.

Meralco-led consortium inks deal with BCDA for New Clark City

MANILA Electric Co. (Meralco), the country’s largest power utility, and its consortium partners have signed a joint venture agreement with the Bases Conversion and Development Authority (BCDA) to manage the distribution of electricity in New Clark City.

Meralco-led consortium takes over Ghana power distribution utility

MANILA ELECTRIC Co. (Meralco) on Monday said the assets and operations of the Electricity Company of Ghana (ECG) had been handed over to the consortium participated in by the distribution utility.

Meralco in talks with ALI to put up microgrids in resort...

MANILA ELECTRIC Co. (Meralco) is studying the viability of putting up microgrid systems in popular tourist destinations outside its franchise area and replicate the hybrid energy system it is installing on Cagbalete Island in Quezon province.

Meralco core income jumps 18% in 4th quarter

MANILA Electric Co. (Meralco) posted a core net income of P5.72 billion in the fourth quarter of 2018, higher by 18.2% compared with the P4.84 billion a year earlier largely because of the higher power consumption during the last three months of 2018.

Power rates to go up in February

THE Manila Electric Company (Meralco) on Friday announced power rates in February will rise by P0.5682 per kilowatt-hour (kWh), mainly due to higher generation charges.

Meralco-led consortium to supply power to New Clark City

MANILA Electric Co. (Meralco) has received the notice of award from the Bases Conversion and Development Authority (BCDA) for power distribution in New Clark City, an official of the company said.

Power plant outages to push Meralco rates higher in February

MANILA ELECTRIC Co. (Meralco) expects electricity rates to rise in February in part because of the power plant outages in the latter part of January, which resulted in an increase in the power prices at the spot market, an official of the company said.

Meralco sales performance improved in 2018, says MVP

MANILA Electric Co. (Meralco) is likely to have performed better in 2018 than in the previous year, with 2019 further improving because of expectations of a stronger economic growth, its chairman said.

ERC orders Meralco, GNPower to stop charging Batangas firm

THE Energy Regulatory Commission (ERC) has ordered Manila Electric Co. (Meralco) and GNPower Ltd. Co. to cease and desist from “assessing, billing and collecting” from Batangas Paper Corp. (BPC) any distribution wheeling charges until their dispute is resolved.

Meralco consortium is low bidder for New Clark City power deal

A MANILA Electric Co.-led consortium offered the lowest power distribution rate for New Clark City, according to the Bases Conversion and Development Authority.

Setting the bar high in powering Filipino communities

It has only been over a year since former Department of Public Works and Highways (DPWH) Secretary Rogelio L. Singson took up the role...

Power rates to rise in Nov.

AFTER two straight months of decrease, power rates in November will rise by P0.1135 per kilowatt-hour (kWh) largely because of the higher charges from the wholesale electricity spot market, Manila Electric Co. (Meralco) said on Wednesday.

Meralco core profit up 11% in Q3

MANILA Electric Co. (Meralco) reported a core net income of P5.84 billion in the third quarter, up 11.2% year-on-year, but lower than the second quarter as revenues slowed in part because of the cooler temperature.

Meralco seeks 50 more years of corporate life

MANILA Electric Co. (Meralco) said on Thursday that it was set to file with the Securities and Exchange Commission (SEC) the amendments to the company’s articles of incorporation seeking to extend its corporate life by another 50 years.

Electricity rates drop this month

MANILA ELECTRIC Co. (Meralco) announced on Thursday a decrease in electricity rates for September by P0.1458 per kilowatt-hour (kWh) in what the distribution utility described as a relief amid rising fuel and food prices.

Meralco to lower power rates this month

Manila Electric Co. (Meralco) announced on Thursday, Sept. 6, a decrease in electricity rates for September by P0.1458 per kilowatt-hour (kWh) to P10.0732 per...

Meralco seeks to raise power generation cost

MANILA ELECTRIC CO. (Meralco) is asking the Energy Regulatory Commission (ERC) for provisional authority to adjust the price of electricity in its power supply agreement (PSA) with a plant in Pagbilao after the tax reform law raised the excise tax on coal.

Meralco seeks rate hike amid higher excise tax on coal

Manila Electric Co. (Meralco) is asking the Energy Regulatory Commission (ERC) for provisional authority to adjust the price of electricity in its power supply...