Tag: Victor Saulon

ALSONS Consolidated Resources, Inc (ACR) listed on Friday P100 million worth of commercial paper, the first portion of its P2.5-billion debt program, to cover the initial funding for its venture into renewable energy.

LOPEZ-LED First Gen Corp. said its offer to buy the government’s banked gas at $3.48 per gigajoules could result in savings for electricity users of close to P0.60 per kilowatt-hour (kWh)or a total of around P10 billion for the period starting next month and early 2024, the year when the Malampaya gas-to-power contract ends.

GASOLINE PRICES will increase by P0.50 per liter (/L) this week, oil companies said, marking the sixth straight week that the cost of the petroleum product has risen.

MAYNILAD Water Services, Inc. has obtained an increase of P5.73 per cubic meter (cu. m.) in water tariffs for Metro Manila’s west zone, which the company is offering to impose on a staggered basis.

SN Aboitiz Power (SNAP) expects to complete by early next year its pilot floating solar project on Magat dam in partnership with state-led National Irrigation Administration (NIA), its top official said.

A RESOLUTION seeking to block a bill granting a franchise to Solar Para sa Bayan Corp. has been filed at the House of Representatives, with the resolution’s backers claiming that the franchise conflicts with the Electric Power Industry Reform Act (EPIRA).

THE ALCANTARA’S 105-megawatt (MW) coal-fired power plant in Zamboanga City has attracted proposals from five global companies, including three from China, that are keen to handle the engineering, procurement and construction (EPC) component of the project.

FOREIGN BUSINESS chambers said the Philippines needs to designate a “water czar” with sufficient powers to bring stakeholders together in resolving the impending water crisis.

PHILIPPINE National Oil Co. (PNOC) will be negotiating the sale of its banked gas amounting to 97.67 petajoules at a lower price than what it was willing to sell before.

PHILIPPINE National Oil Co. (PNOC) has scaled down its proposal to build a liquefied natural gas (LNG) facility in Batangas under a “solicited” process that allows the government corporation to set specifications for the $600-million project.

OIL COMPANIES are raising the prices of petroleum products this week by P0.65 per liter (/L) for gasoline, diesel and kerosene.

NEGROS ISLAND Biomass Holdings, Inc. has lined up three biomass projects on Negros island for inclusion in the government’s feed-in-tariff (FiT) program as the company aims for completion dates no later than end-2019, the extended deadline for developers to avail of the guaranteed rate for the energy they produce for 20 years.

STATE-LED National Electrification Administration (NEA) has backed the investor-manager contract (IMC) forged by Zamboanga City Electric Cooperative (Zamcelco) as it advised the board of the distribution utility to proceed with a meeting this week for its members to approve the P2.5-billion deal.

HENRY SY, Sr. remains the country’s wealthiest man for the 11^th straight year in Forbes Asia’s “Philippines’ 50 Richest” list, which reflected the economy’s overall volatility as many registered shifts in wealth from 2017.

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.

THE National Power Corp. (Napocor) expects funding for the rehabilitation of the Agus-Pulangi hydroelectric power complex in Mindanao to come from multilateral lending agencies as well as China, its top official said.

FIRST GEN Corp. is still on buying the Philippine National Oil Co.’s (PNOC) banked gas after the latter did not respond to its earlier offer.

THE Energy Regulatory Commission (ERC) said it will amend its draft rules on microgrids to include provisions that will clarify whether the private sector can enter areas within the franchises held by electric cooperatives.

SHELL Philippines Exploration BV (SPEx) and its consortium partners that developed the country’s only natural gas discovery, along with the Department of Energy (DoE), have asked the Supreme Court to review the state auditor’s finding that they owe the government billions of pesos in unpaid income tax.

THE Department of Energy (DoE) said hybridization and optimization of power generation sets would save state-led National Power Corp. (Napocor) up to P2.25 billion yearly.

TWO of the country’s biggest associations for electric cooperatives have called on the franchise committee of the House of Representatives to think twice before allowing an entity led by Solar Philippines Power Project Holdings, Inc. to build minigrids in popular tourist destinations.

OIL COMPANIES will implement a hefty price increase for all petroleum products this week, with diesel registering the biggest hike at P1.20/L.

THE National Irrigation Administration (NIA) on Monday signed a contract with a South Korean builder for the construction of a dam in Iloilo province worth P11.212 billion.

THE JOINT VENTURE between Crown Investment Holdings, Inc. and Desco, Inc. won the right to manage and operate the ailing Zamboanga City Electric Cooperative, Inc. (Zamcelco) in a P2.5-billion bid to take over the city’s debt-ridden distribution utility.

THE Energy department and the Senate energy committee will draft a law covering the natural gas industry in preparation for a “critical” period next year when an integrated liquefied natural gas (LNG) facility should have started construction in preparation for the depletion of the country’s sole domestic source of the fossil fuel.

THE Department of Energy (DoE) is seeking a third-party “data package” service provider ahead of its plan to bid out 14 pre-determined areas in the Philippines under what it calls a more transparent energy contracting program.

THE Metropolitan Waterworks and Sewerage System (MWSS) has downplayed fears of a water shortage expressed by a water concession holder, saying that no shortage is imminent.

STATE-LED PHILIPPINE National Oil Co. (PNOC) is seeking partners to build an integrated liquefied natural gas (LNG) hub under new terms that defines the project under a “solicited” scheme, after the government agency failed to attract acceptable proponents.

MANILA WATER Co., Inc. has raised the alarm over a possible water shortage starting in 2021 if it fails to get approval for the construction of a new water source from Laguna Lake ahead of the target completion of the Kaliwa dam in Quezon province by 2023.

NATIONAL GRID Corporation of the Philippines (NGCP) said on Wednesday it is close to completing the Ormoc-Babatngon 138-kilovolt (kV) line that is aimed at strengthening the transmission of electricity in the Visayas.

TWELVE remote towns in the Philippines, including four municipalities in popular tourist destination Palawan, are the possible sites for mini grids to be developed by Solar Philippines Power Project Holdings, Inc.

OIL COMPANIES are raising the prices of major petroleum products this week, with gasoline going on its third week of hike.

ABSOLUT Distillers, Inc. (ADI) announced a P1.3-billion expansion plan for the next two to three years covering investments in at least 10 megawatts (MW) of renewable energy and a capacity increase for bioethanol production.

PILIPINAS Shell Petroleum Corp. has offered an additional discount on diesel fuel for public utility jeepneys (PUJs) in lieu of the re-introduction of the Euro 2 diesel, making the company the first of the three big oil firms to offer an alternative to the Energy department’s directive.

PNOC EXPLORATION Corp. (PNOC-EC) plans to buy Euro 4 gas oil or diesel fuel from the seller’s point of origin in a move that has seen the state-led company setting a new deadline in its bid to import competitively priced petroleum products.

THE Department of Energy (DoE) is soliciting comment on draft amendments to the implementing rules and regulations (IRR) of the law that restructured the energy sector, which privatized power generation, transmission and distribution.

THE Department of Energy (DoE) has drafted a circular covering embedded power generators and self-generating facilities, or entities that augment the supply of electricity in the power system.

THE Department of Energy (DoE) has authorized five power projects to conduct separate studies on their impact on the transmission grid, with the projects potentially adding 1,233 megawatts (MW) to the country’s capacity.

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.

THE DEPARTMENT of Energy (DoE) has ordered oil companies to submit their implementation programs on its earlier call for them to sell the cheaper but dirtier Euro 2 diesel to ease the rising cost of fuel.

STATE-LED POWER SECTOR Assets and Liabilities Management Corp. (PSALM) will rebid a parcel of land in Manila where a thermal power plant used to stand after the agency failed to attract bidders.

A UNIT OF APC Group, Inc. has secured the government’s certification for its geothermal development in Kalinga province as a project of national significance, giving it perks including speedy regulatory permitting, the holding firm said on Monday.

ROOFTOP solar systems have the potential to lower electricity costs to P2.50 per kilowatt-hour (kWh) by displacing imported energy sources and bringing new investment of around P1.5 trillion by 2030, a research firm said.

THE MOVEMENT of oil prices will be mixed this week, with gasoline registering the only increase at P0.30 per liter (/L), oil companies advised on Monday.

LENDING TO ENERGY generation companies has slowed down this year and is likely to remain that way for three to five years when power demand has expanded to take up the existing excess supply, a private banking official said.