JORDEENE SHEEX LAGARE

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THE effect of the higher excise tax on coal on power rates would have a “minimal” impact on consumers, especially in the provinces, the National Electrification Administration (NEA) assured on Wednesday. The NEA made the assurance, despite imminent adjustments in monthly electricity bills, for the reason that “not all distribution…

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Cheaper power supply deals and lower electricity spot market charges prompted Manila Electric Co. (Meralco) to slash its rates this month by P0.5260 per kilowatt hour (kWh), the second straight month of decline in power rates. The reduction means electricity rates in January will fall to P8.7227 per kWh from…

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Power consumers can expect a “staggered” impact of the new coal excise tax on their electricity rates in February, the Manila Electric Co. (Meralco) said on Tuesday. “We expect the coal tax’s implementation to be staggered,” Meralco Vice President and Head of Utility Economics Lawrence Fernandez told reporters. He admitted,…

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LISTED PetroEnergy Resources, Inc. (PERC) has set an offer price of P4.80 per share for its stock rights offering, which is expected to raise P758.3 million in fresh funds for the company which will be used to to finance its renewable energy (RE) projects and for general corporate purposes. In…

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MANILA Electric Co. (Meralco), the largest power distribution utility in the Philippines, expects to spend about $800 million to develop two wind projects with a total capacity of 300 megawatts (MW). Developing the wind projects would be tantamount to an investment of “$800 million, plus or minus,” Meralco President Oscar…

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The Philippines has retained the top spot in environmental sustainability in energy resources for the third straight year, the World Energy Council (WEC) said in a report. “While not in the Top 10 overall,” the country “is leading the way on the environmental sustainability dimension,” WEC said in its World…

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MEGAWIDE Construction Corp. said it and a unit of Toshiba Group had clinched a P2-billion contract to build a water treatment facility for Maynilad Water Services, Inc. In a disclosure to the local bourse on Monday, the listed engineering conglomerate said it would commence construction of the Las Piñas water reclamation…

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PETRON Corp., the largest oil refining and marketing company in the Philippines, said it would repurchase up to $350 million of its $750 million outstanding undated securities listed on the Stock Exchange of Hong Kong (HKEx). In a disclosure to the Philippine Stock Exchange (PSE), Petron said on Monday its Executive Committee…

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OIL companies again raised the pump prices of petroleum products, the second rate adjustment for the month. Flying V was the first to adjust its prices, raising the cost of diesel and kerosene by 55 centavos per liter and 30 centavos per liter, respectively, at 12:01 Tuesday. The price of…

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Despite difficulties, the Department of Energy (DoE) remains determined to distribute the 3,000 electric tricycles (e-trikes) still in its possession, one of its officials said. According to Energy Assistant Secretary Leonido Pulido 3rd, the department seeks to ease these difficulties—including the vehicle’s price and flawed deployment model, which he calls…

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