MANILA, Philippines — A subsidiary of Global Business Power Corp. (GBP) has been cited for compliance to wholesale electricity spot market (WESM) rules. In a statement, GBP said subsidiary Panay Energy Development Corp. (PEDC) has been named by the Philippine Electricity Market Corp. (PEMC) as among the 10 generating companies with the least number of […]

MANILA Electric Co. (Meralco) is set to distribute electricity to two islands in Quezon and Batangas, within its franchise area less than a year after the Department of Energy (DoE) called out the country’s biggest distribution utility for failing to energize these areas. “The ceremonial switch-on [in Isla Verde] is scheduled for Friday [Feb. 15],” […]

MANILA, Philippines — Oil companies are raising pump prices today following the uptrend in the global oil market. Oil firms announced gasoline prices will be raised by P0.90 per liter, diesel by P0.55 per liter and kerosene by P0.85 per liter. The price hike comes a week after companies rolled back pump prices. In separate […]

International Finance Corporation (IFC), a member of the World Bank Group, committed an investment of $75 million in a green bond issued by AC Energy Finance International Limited and guaranteed by AC Energy, according to an official release. IFC’s investment anchored a five-year, $300-million green bond listed on the Singapore Exchange. It is the first […]

Imagine a place with no shopping malls, no movie houses, no air-conditioned buses, no five-star hotels, no fast-food chains, and no theme parks. We bet you’d have second thoughts about staying in such a place, especially for a long period of time. We’re talking about Romblon, a place so small, a tourist can easily complete the […]

LOS BAÑOS, Laguna, Feb. 10 — The Department of Energy (DOE) held the first leg of Information, Education and Communication (IEC) campaigns for the year on the implementation of Republic Act No. 9136 or the Electric Power Industry Reform Act (EPIRA) yesterday (7 February) at the University of the Philippines Los Baños (UPLB). The DOE-Electric […]

MANILA, Philippines — Ten power coops have waived the collection of bill deposits as the Energy Regulatory Commission (ERC) revisits its rules. They comprise five electric cooperatives (ECs) in Luzon, two in Visayas and three in Mindanao. The five Luzon-based ECs are Benguet Electric Cooperative Inc. (Beneco), Lubang Island Electric Cooperative, Nueva Vizcaya Electric Cooperative, […]

MANILA, Philippines — Customers of Manila Electric Co. (Meralco) will see an increase in electricity bills this month due to higher spot market prices and as capacity fees from power generators start to normalize. Meralco said there would be a P0.5682 per kilowatt-hour increase in overall electricity rates from P9.8385 to P10.4067 per kwh this […]

NEGROS Oriental is the first province in the Philippines to institutionalize unequivocal support and commitment to renewable energy sources through an annual commemorative local government event. Governor Roel Degamo recently signed Executive Order No. 22 to 18 declaring Renewable Energy Day in Negros Oriental every fifth day of March. This follows a similarly groundbreaking executive […]

AC Energy, Inc. has attracted two of the world’s biggest development lenders International Finance Corp. (IFC) and the Asian Development Bank (ADB) to the Ayala-led company’s multi-million dollar green bond offering that will fund regional renewable energy projects, company officials said. “In total now, we have $410 million from the green bond offer,” Eric T. […]