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ABOITIZ Equity Ventures, Inc. (AEV) reported on Tuesday a 1% dip in net income to P22 billion for 2019, as its top contributing power business recorded a double-digit profit decline after last year’s power outages.
THE president of diversified conglomerate San Miguel Corp. (SMC) has offered to pay in full the capacity charges for its 1,200-megawatt (MW) Ilijan power plant amounting to P22.68 billion, more than two years ahead of schedule.
PANAY Electric Co., Inc. (PECO) has asked the Energy Regulatory Commission (ERC) to permit the distribution utility’s continued operation in Iloilo City while the area transitions to a new franchise holder, after the regulator revoked PECO’s authority to do so.
FIRST GEN Corp. said its subsidiary had applied for regulatory permit to start constructing an offshore terminal for liquefied natural gas (LNG) within its energy complex in Batangas City.
SM INVESTMENTS Corp. posted a 20% rise in net income last year to P44.6 billion as its business segments performed strongly to boost revenues, the Sy-led company told the stock exchange on Friday.
STATE-LED Power Sector Assets and Liabilities Management Corp. (PSALM) has refuted the claim of San Miguel Corp. (SMC) that it has not been billed by the agency for a subsidiary’s supposed P23.94 billion payables, saying it has proof showing receipt of demand letters.
AC Energy Philippines, Inc. is subscribing to the shares of Giga Ace 1, Inc. to allow the subsidiary to fund its acquisition of the ownership interest of an equity fund in a wind farm in Ilocos Norte.
POWER generation companies must disclose their plant maintenance schedule for this year until 2022 to fully inform the public, a consumer advocacy group said after the Energy department warned of a possible electricity supply shortfall during the summer months.
SAN MIGUEL Corp. (SMC) told Power Sector Assets and Liabilities Management Corp. (PSALM) on Monday to stick to the facts and let the courts decide on the claim by the state-led agency that a unit of the conglomerate owes the government P23.94 billion.
THE Department of Energy (DoE) is looking at converting the property in Batangas being leased by the Philippine unit of Chevron Corp. into what its top official called an “energy city” which will house a liquefied natural gas (LNG) facility, among others.
THE National Grid Corp. of the Philippines (NGCP) and the Independent Electricity Market Operator of the Philippines, Inc. (IEMOP) separately raised concerns yesterday about power supply in May.
AC ENERGY Philippines, Inc. said on Wednesday that the Philippine Competition Commission (PCC) had approved the Ayala-led company’s acquisition of a solar farm in Negros Occidental from a group of investors that include a state-led insurer.
MAYNILAD Water Services, Inc. is setting aside P10 billion to build a third treatment plant for raw water sourced from Laguna Lake, the company said on Tuesday.
ACE Enexor, Inc. has acquired a 75% interest in an offshore exploration contract in Palawan after Energy department approved the assignment by one of the partners of its stake to the Ayala-led company.
STA. LUCIA LAND, Inc. said on Friday that its board of directors had approved three joint venture projects to develop areas in Luzon and the acquisition of 10 parcels of land, including two in Mindanao.
SIAM CEMENT Group Public Co. Ltd. (SCG) reported a 32% fall in fourth-quarter profit to $229 million or P11.95 billion after the decline in its chemical business amid trade war concerns and market volatility that resulted in lower margins.
MAYNILAD Water Services, Inc. has spent more than P41 billion to improve and expand its wastewater services since the government privatized the operation of Metro Manila’s water services in 1997, the west zone concessionaire said on Tuesday.
LOPEZ-LED First Gen Corp. said on Tuesday that its board of directors had approved the increase in its authorized capital stock to P13.2 billion from P11.6 billion by creating redeemable preferred shares.
THE Energy Regulatory Commission (ERC) is in no rush to set a new secondary price cap that limits the spike in energy prices at the wholesale electricity spot market (WESM), saying more pressing matters needed faster resolution.
THE Energy Regulatory Commission (ERC) has reminded power generation companies, including those that are required to invite competitive bidders for their output, to continue operating in the face of an expected tight supply around April and May.
AYALA-LED AC Energy Philippines, Inc. said on Wednesday that it had received the decision of the antitrust watchdog clearing its acquisition of the shares of a company with an energy project in Ilocos Norte.
DECLINING PRODUCTION from the Malampaya deepwater gas project has left the Philippines needing to import liquefied natural gas (LNG), but projects to allow the fuel to come in are facing delays, Fitch Solutions Macro Research said.
THE Power Sector Assets and Liabilities Management Corp. (PSALM) will cease collecting the P0.0543 per kilowatt-hour (kWh) universal charge for stranded contract costs (UC-SCC) starting this month, the government agency said.
THE energy unit of Vivant Corp. is setting aside at least P1 billion in capital expenditure this year as it plans to bid for power generation projects in off-grid areas, including those in Palawan.
Ayala-led Manila Water Co., Inc. is raising its authorized capital stock to P4.4 billion or an equivalent increase of 900 million common shares, which is the same number of shares it is carving out “for cash, properties, or assets” to carry out its business.
MAYNILAD Water Services, Inc. has chosen a consortium led by a unit of DMCI Holdings, Inc. to build a 150-million-liters-per-day (MLD) plant that will treat water from Laguna Lake, a company related to the water concessionaire said.
POWER DEMAND in 2020 is expected to peak in June at around 14,191 megawatts (MW), reflecting heavy usage towards the tail end of the dry season, the Independent Electricity Market Operator of the Philippines, Inc. (IEMOP) said.
ASIA PACIFIC Renewable Energy Solutions, Inc., a Makati-based company specializing in waste-to-energy projects using technology from Singapore, is looking at six areas in the Philippines to build facilities that will process garbage into electricity.
THE board of directors of Aboitiz Power Corp. (AboitizPower) has approved the issuance of up to P9.55 billion in fixed-rate retail bonds out of the P30-billion bonds registered in 2017 under the shelf registration program of the Securities and Exchange Commission, it told the stock exchange on Tuesday.
THE renewable energy subsidiary of Manila Electric Co. (Meralco) is targeting to double its installed capacity this year and reach a total of 40 megawatts (MW), as more residential customers turn to solar rooftop systems to power their homes.
PXP Energy Corp. said on Tuesday that drilling had started for an exploration well in Peru in which it has participating interest.
THE Energy Regulatory Commission (ERC) said Tuesday that it approved a feed-in tariff allowance (FiT-All) of P0.0495 per kilowatt-hour (kWh), or lower than what was applied for by the government corporation that handles the collected amount from consumers.