Power News

May 8, 2021

SMPC income up 93% to P2.3-B in first quarter

By Myrna M. Velasco – May 8, 2021, 6:00 AM from Manila Bulletin The consolidated net income of Consunji-led Semirara Mining and Power Corporation (SMPC) significantly climbed by 93-percent to P2.3 billion within first quarter this year versus P1.2 billion […]
May 8, 2021

Meralco rate to increase in May billing

By Myrna M. Velasco – May 7, 2021, 3:01 PM from Manila Bulletin The customers of Manila Electric Company (Meralco) will need to earmark slightly higher budget for their electric bills this month, as the utility firm’s overall tariff had […]
May 7, 2021

Norwegian firms bat for easing of foreign ownership restriction in RE investments

By Myrna M. Velasco – May 7, 2021, 7:00 AM from Manila Bulletin Norwegian companies that are interested to inject fresh capital into the country’s renewable energy (RE) sector have been batting for the easing of legal restraints on foreign […]
May 7, 2021

PERC Net Income Up 21% In 2020

BY LENIE LECTURA – MAY 7, 2021 from Business Mirror Yuchengo-led PetroEnergy Resources Corp. (PERC) booked P646 million in net income last year, up 21 percent from P543 million posted in 2019, buoyed by the full-year operations of its solar […]
May 7, 2021

Regulatory conflicts flagged with creation of power agency

By Gillian M. Cortez – May 6, 2021 | 7:52 pm from Business World   GOVERNMENT agencies raised the possibility of regulatory overlap in the creation of a new office tasked with ensuring power rates for consumers. In a hearing […]
May 6, 2021

Malampaya license extension still hangs

By Myrna M. Velasco – May 5, 2021, 5:00 PM from Manila Bulletin The Duterte administration is now on its last year stretch, but the government still cannot give a definitive timeframe on when the decision on the propounded license […]
May 6, 2021

AC Energy scales down FOO proceeds target to P13.07 B

By Myrna M. Velasco – May 6, 2021, 6:30 AM from Manila Bulletin Ayala-led firm AC Energy Corporation has lowered the scale of proceeds it can fetch from its follow-on offering (FOO) to P13.07 billion from a higher end target […]
May 6, 2021

Semirara posted 93% growth in Q1 income

By Alena Mae S. Flores – May 05, 2021 at 07:10 pm from manilastandard.net Semirara Mining and Power Corp. on Wednesday reported a 93-percent increase in net income to P2.3 billion from P1.2 billion a year ago. SMPC said in […]
May 5, 2021

ERC: No Interest On Delayed FIT Payments For 6 Months

BY LENIE LECTURA – MAY 5, 2021 from Business Mirror The Energy Regulatory Commission (ERC) has imposed a moratorium on interest for delayed payment of FIT (Feed-in-Tariff) revenue owed by the government to renewable energy (RE) players. In a public […]
May 5, 2021

PH power consumption down in 2020

By Jordeene B. Lagare – May 3, 2021 from The Manila Times ELECTRICITY consumption across the Philippines dropped by 4.04 percent in the past year, data from the Department of Energy (DoE) showed. In its 2020 Power Statistics report released […]