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Regulator calls Maynilad to account

THE METROPOLITAN WATERWORKS and Sewerage System’s Regulatory Office (MWSS-RO) has issued a notice of service obligation failure to Maynilad Water Services, Inc. for not meeting requirements under its concession agreement, the chief regulator said on Tuesday.

San Miguel to submit proposal for P35-B water source project

SAN MIGUEL Corp. (SMC) is planning to submit an unsolicited proposal to build a new water source that will deliver up to 3,800 million liters per day (MLD) at a much cheaper cost for consumers than the company’s bulk water project in Bulacan, its top official said.

Alsons swings to profit in Q1

ALSONS Consolidated Resources, Inc. (ACR) posted a first-quarter net income attributable to the parent firm of P6.11 million, reversing losses of P19.74 million in the same period last year despite a decline in its revenues during the period.

DoE may issue circular to enforce SC ruling on competitive selection

THE Department of Energy (DoE) is meeting with Manila Electric Co. (Meralco) and other stakeholders that are expected to be affected by the Supreme Court (SC) decision requiring all power supply agreements (PSAs) forged after June 30, 2015 to undergo a competitive selection process (CSP).

Gov’t on road show to draw interest to energy auction

THE DEPARTMENT of Energy (DoE) is taking to the United States and other parts of the globe its road show to drum up interest in the Philippine Conventional Energy Contracting Program (PCECP) after it extended the deadline for investors to submit their application to explore pre-determined oil and gas reserves in the country.

DoE circular on smart grids due by 3rd quarter

THE DEPARTMENT of Energy (DoE) is scheduled to issue in the third quarter a circular covering the operation of smart grids in the Philippines as distribution utilities embark on projects to upgrade power systems in line with advances in the technology.

Fuel prices higher again this week

AFTER THE past two weeks of decline, gasoline prices this week will rise by P0.90 per liter (/L), while the prices of diesel products will increase by P0.80/L, the same amount that was cut two weeks ago.

San Miguel power unit disputes gov’t claim of unpaid fees

SOUTH PREMIERE Power Corp. (SPPC) said it had paid the government P289.1 billion since 2010 in various fees as administrator of the Ilijan power plant in Batangas, as it disputed the P19.75 billion in supposed unpaid dues being claimed by the state energy privatization agency.

Energy department extends deadline for service contract bids

THE DEPARTMENT of Energy (DoE) has extended the deadline for interested entities to submit their bids to secure service contracts for the 14 areas in the Philippines offered by the government for oil and gas exploration.

Iloilo’s MORE to source power supply from KEPCO’s Cebu plant

MORE Electric and Power Corp. (MORE Power) has signed an interim power supply agreement for 5 megawatts (MW) with KEPCO SPC Power Corp. (KSPC), helping ensure stable electricity in Iloilo City for the one-year term of the contract.

Nestlé Philippines, Republic Cement to co-process post-consumer waste

NESTLÉ Philippines, Inc. and Republic Cement and Building Materials, Inc. have entered into an agreement to co-process post-consumer plastic waste in the latter’s cement kilns.

Phinma Energy hikes stake in unit ahead of AC Energy takeover

PHINMA Energy Corp. has signed on Thursday an agreement to acquire the stake of two affiliate firms in the former’s subsidiary Phinma Petroleum and Geothermal, Inc. (PPG), the listed companies told the stock exchange yesterday.

Dennis Uy denies buying Smartmatic’s partner

THE listed companies led by Dennis A. Uy refuted reports circulating in social media that the Davao City businessman allegedly had a stake in a company with ties to Smartmatic, the group behind the electronic voting system used in the May 13 midterm elections.

EDC signs geothermal power supply deal with garment exporter Hamlin

ENERGY Development Corp. (EDC) said it signed an agreement to supply power from its geothermal plant to Hamlin Industrial Corp.’s facility in Cavite.

Lopez Holdings more than doubles Q1 earnings

LOPEZ Holdings Corp. reported a first-quarter net income of P2.291 billion, or more than double its profit attributable to equity holders of the parent firm a year ago of P1.104 billion, with its energy group contributing to its performance during the period.

DoE may limit power contracts to 70% of plant capacity

THE Department of Energy (DoE) is drafting rules that will cap the energy contracted by power plants to just 70% of their installed capacity, leaving a sufficient buffer for use as replacement power to replace the supply lost during unscheduled or unplanned facility outages.

DoF: IPPAs, electricity co-ops owe PSALM P59.23B in unpaid bills

SOUTH PREMIERE Power Corp. (SPPC), a unit of listed conglomerate San Miguel Corp. (SMC), topped the list of entities with the biggest unpaid loans to the government agency tasked to privatize state energy assets, the Finance department said on Tuesday.

Semirara Mining income falls 49% in 1st quarter

SEMIRARA Mining and Power Corp. (SMPC) reported a 49% drop in first-quarter net income to P2.33 billion from P4.57 billion as the selling prices of coal and power, the company’s sources of revenues, decreased during the period.

ERC studying way forward with licenses expiring amid Supreme Court TRO

THE Energy Regulatory Commission (ERC) is set to deliberate on how to move forward in promoting greater competition in the retail electricity business as the licenses of those authorized to engage in it are about to expire by 2021 to 2022 while a court-issued temporary restraining order (TRO) remains unresolved.

DoE says rules in place for competitive selection after high court...

THE Department of Energy (DoE) is not keen on issuing directives to power generation companies (gencos) and distribution utilities (DUs) that were affected by the Supreme Court decision requiring all power supply contracts forged after June 30, 2015 to undergo a competitive selection process (CSP).

Gasoline, kerosene prices drop for 2nd week

FOR THE second straight week, oil companies are cutting the prices of their gasoline products to reflect the movement of prices in the international market.

Grid firm says supply of power so far sufficient

The NATIONAL GRID Corporation of the Philippines (NGCP) expects May 13’s available power generating capacity in Luzon to be at 11,740 megawatts (MW) as against a peak system demand of 9,047 MW, giving the grid operator a margin of 2,693 MW sufficiently covering the midterm elections.

ERC reviewing norms for allowable levels of power plant outages

THE Energy Regulatory Commission (ERC) said it is reviewing the number of unscheduled outages that power plants are permitted over a year, which will seek to benchmark against the outage rate allowed in other jurisdictions have adopted.

ERC prepares legal strategies after SC ruling on power supply deals

The Energy Regulatory Commission (ERC) is preparing “legal strategies” in response to the Supreme Court decision requiring all power supply agreements (PSAs) forged after June 30, 2015 to undergo a competitive selection process (CSP) to arrive at the least-cost power for consumers, its chairman said.

ERC moves to ease power demand amid thin reserves

THE ENERGY REGULATORY COMMISSION (ERC) has issued a resolution that adds other circumstances that will prompt distribution utilities, including the country’s biggest -- Manila Electric Co. (Meralco), to activate their interruptible load program (ILP) and ease energy demand in the system.

PTT Philippines to open 30 fuel retail stations this year; new...

PTT Philippines Corp. targets to open at least 30 new fuel retail stations this year, bringing its year-end total to around 192, as the company maps its expansion plans under its new president.

Manila Water 1st quarter earnings slide 27%

MANILA WATER Co., Inc reported a 27% fall in first-quarter net income to P1.23 billion, in part as the water concessionaire factored in the impact of the water supply shortage within its service area starting in March.

First Gen wants to get more partners for LNG terminal project

FIRST GEN Corp. is looking to bring in more partners for its liquefied natural gas (LNG) terminal project as it schedules to break ground by month’s end and targets to make a final investment decision by early 2020 in time for a 2024 completion date.

Meralco: May bills to slip on lower generation charge

AFTER RISING for three straight months, electricity rates will go down by P0.2728 per kilowatt-hour (/kWh) in May, resulting in a P55 reduction for the monthly bill of a typical household consuming 200 kWh, Manila Electric Co. (Meralco) announced on Tuesday.

Chelsea Logistics, PNOC look to jointly develop LNG logistics hub in...

CHELSEA Logistics Holdings Corp. said on Tuesday that it was exploring a possible joint development of a fuel and liquefied natural gas (LNG) storage and terminal with Philippine National Oil Co. (PNOC) in the state-run company’s site in Mabini, Batangas.

Petron Q1 profit plunges 78%

PETRON CORP. reported a 78% fall in consolidated first-quarter net income to P1.3 billion from P5.8 billion in the same period last year after a decline in revenues brought about largely by the tax reform, it told the stock exchange on Tuesday.

Shell hydrogen plant in Batangas seen raising processing flexibility

PILIPINAS Shell Petroleum Corp. (PSPC) will build a hydrogen manufacturing facility within its Tabangao, Batangas oil refinery, allowing the company to produce more grades of crude and increase its output by early 2021, its top official said.

SC requires bidding for all power supply agreements

THE SUPREME COURT (SC) has ordered all power supply agreements (PSA) submitted by distribution utilities (DU) to the Energy Regulatory Commission (ERC) on or after June 30, 2015 to undergo competitive selection process (CSP).

AC Energy, partner to start building Vietnam wind farm

AC Energy, Inc. has signed a shareholders’ agreement with its Vietnamese partner in wind energy development, initially committing to build 40 megawatts (MW) at a cost of around $92 million for completion in the first half of 2020 its parent firm said on Monday.

CoA rules in favor of SMPC on dispute with PSALM

SEMIRARA Mining and Power Corp. (SMPC) expects to sit down with the Power Sector Assets and Liabilities Management Corp. (PSALM) to settle its money claim against the agency, after the Commission on Audit (CoA) ruled in favor of the Consunji-led company, company officials said.

Oil prices break uptrend this week

OIL COMPANIES are rolling back the prices of gasoline, diesel and kerosene this week after four straight weeks of price increases the previous month.

ERC’s competitive selection rules expected in 30 days

THE Energy Regulatory Commission (ERC) expects to issue within 30 days its final rules on competitive selection process (CSP), a scheme that chooses the lowest-cost power for consumers, including a provision on replacement power that will require the generation companies to shoulder the cost of unscheduled plant outages.

Construction of Davao City bulk water supply project now under way

ABOITIZ-LED Apo Agua Infrastructura, Inc. is preparing the construction of a weir, or a water impounding facility, along with the excavation works for the treated water tank at the water treatment plant, which it has started to build as part of the Davao City bulk water supply project.

Metro Retail Stores 2018 results dampened by fire; sees 2020 growth

METRO Retail Stores Group, Inc. (MRSGI) said it is well-positioned for growth in 2020, citing the strong economy and domestic retail demand, after a fire at a Cebu store brought down its 2018 results.

AEV profit drops 27% in Q1

ABOITIZ Equity Ventures, Inc. (AEV) posted a 27% decline in first-quarter consolidated net income to P3.5 billion from P4.8 billion a year ago, due in part to non-recurring losses, the company told the stock exchange on Thursday.

Maynilad boosts production at Putatan

MAYNILAD Water Services, Inc. said on Thursday that it was able to increase the production of its two Putatan water treatment facilities to 125 million liters per day (MLD) from 80 MLD, despite the continued algae proliferation in Laguna Lake.

SMPC unit inks contract with Japanese firms

SEMIRARA Mining and Power Corp. (SMPC) said on Thursday that its subsidiary Sem-Calaca Power Corp. (SCPC) had signed a technical consultancy contract with two Japanese firms.

PSALM in new round of compensation payouts

THE Power Sector Assets and Liabilities Management Corp. (PSALM) resumed its distribution of compensation checks to individuals, families, and enterprises that were affected by the power barge 103 oil spill at the height of Super Typhoon Yolanda.

Invitation still open for Chinese merchant power plant builders — Energy...

THE Department of Energy (DoE) said it will continue to pursue a program inviting China to put up merchant power plants in the Philippines to help augment the supply deficiency.

AC Energy targeting to launch Phinma tender offer within Q2

AC ENERGY, Inc. targets to launch in the next two months the mandatory tender offer to the minority shareholders of Phinma Energy Corp. to complete its acquisition of the company, its top official said.