-
2 weeks ago | 
mb.com.ph | Gabriell Christel Galang
Renewable energy (RE) developer Citicore Renewable Energy Corp. (CREC) has earmarked an even higher capital expenditures (capex) allocation for this year to support the goal to achieve its capacity-building projects for 2025. During the company’s annual stockholders’ meeting (ASM) on Monday, June 9, Oliver Tan, president and chief executive officer (CEO), disclosed that their capex budget for this year has increased compared to figures in 2024.
-
2 weeks ago | 
mb.com.ph | Gabriell Christel Galang
Fuel prices are set to increase ahead of the celebration of Philippine Independence Day on June 12. Effective Tuesday, June 10, gasoline prices will inch up by ₱0.60 per liter, while diesel will go up by ₱0.95 per liter. Kerosene is also set to climb by ₱0.30 per liter. Shell Pilipinas, Cleanfuel, PetroGazz, Seaoil, and Caltex are among the few oil companies that have announced these price movements.
-
2 weeks ago | 
mb.com.ph | Gabriell Christel Galang
The Asian Development Bank (ADB) reported that the de-risking strategy for geothermal technologies in the Philippines is attracting investor interest. In a briefing, Pavit Ramachandran, ADB Country Director for the Philippines, noted that despite potential challenges, stakeholders are already considering studies related to the de-risking initiative.
-
3 weeks ago | 
mb.com.ph | Gabriell Christel Galang
The Independent Electricity Market Operator of the Philippines (IEMOP) is seeking an additional budget for its market management system (MMS) for the Wholesale Electricity Spot Market (WESM). In a document posted by the Energy Regulatory Commission (ERC), IEMOP is requesting around ₱1.1 billion in additional market fees to fund the MMS project, which is critical infrastructure supporting spot market operations. IEMOP states that the current system is aged and requires hardware upgrades.
-
3 weeks ago | 
mb.com.ph | Gabriell Christel Galang
Motorists may need to tighten their belts as fuel prices are set to increase next week. Based on the four-day trading Mean of Platts Singapore (MOPS), gasoline is expected to rise somewhere between ₱0.15 and ₱0.60 per liter, while diesel is expected to jump to around ₱0.50 to ₱0.90 per liter. Kerosene is also expected to jump somewhere around ₱0.25 and ₱0.40 per liter.
-
3 weeks ago | 
mb.com.ph | Gabriell Christel Galang
The Energy Regulatory Commission (ERC) has ordered 22 generation companies (GenCos) to justify the reason behind their derating power plants so far this year. According to the ERC on Thursday, June 5, these GenCos must submit within seven days from the receipt of the letters to explain why their plants frequently derate or have been operating in a derated state.
-
3 weeks ago | 
mb.com.ph | Gabriell Christel Galang
AirAsia MOVE (MOVE) vowed to collaborate with the government to establish industry-wide safeguards ensuring customer protection, following a Civil Aeronautics Board (CAB) inquiry regarding an alleged overpricing incident involving a domestic flight carrier in Tacloban. In a statement, Nadia Omer, AirAsia MOVE chief executive officer, said their pricing mechanism is automated, with no manual intervention or manipulation of fares on the platform.
-
3 weeks ago | 
mb.com.ph | Gabriell Christel Galang
Consumers may see mixed movements in their electricity bills this June, according to the Manuel V. Pangilinan-led Manila Electric Co. (Meralco). In a statement sent by Meralco on Thursday, June 5, the distribution utility (DU) attributed this month’s upcoming power rates to a potential increase in the reserve market prices. “We are still waiting for all the final billings from our suppliers for the computation of power rates for the June billing period,” it stated.
-
3 weeks ago | 
mb.com.ph | Gabriell Christel Galang
State-run think tank Philippine Institute for Development Studies (PIDS) believes that skepticism surrounding the feasibility of the Association of Southeast Asian Nations (ASEAN) Power Grid is likely to diminish over time, citing investments that could help address this years-long concern. In an exclusive interview with Adoracion Navarro, senior fellow at PIDS, she shared that it is too early to doubt the feasibility of ASEAN energy integration.
-
3 weeks ago | 
mb.com.ph | Gabriell Christel Galang
Meralco PowerGen Corp. (MGen), the power generation unit of Manila Electric Co., announced that it has signed a partnership with Saudi Arabia’s water desalination firm ACWA Power. In a statement on Wednesday, June 4, MGen said it signed an agreement with ACWA to explore renewable energy (RE) projects, specifically in solar energy, and accelerate the country’s energy transition and the Association of Southeast Asian Nations’ (ASEAN) sustainable development.
