JCRA affirms Philippines A- rating, stable outlook
The Japan Credit Rating Agency, Ltd. (JCRA) has kept the country's investment-grade credit rating of A minus (A-) with a stable outlook.
Power, franchise operations push MPIC 2023 net income 90% higher to P19.9 billion
Conglomerate Metro Pacific Investments Corp., now a private company, on Wednesday reported net income in 2023 rising 90 percent to P19.91 billion from P10.49 billion the year before, mainly as a result of better contributions from its power and water franchise operations.
Meralco rates seen cooling as March mercury levels heat up
Meralco rates seen cooling as March mercury levels heat up
Energy
The cost of electricity across the Manila Electric Co. (Meralco) franchise area is seen lower at the March billing cycle due to a confluence of events helping boost optimism among consumers.
According to Meralco, the resumption of operations of power plants undergoing maintenance and more favorable prices at the Wholesale Electricity Spot Market (WESM) support the optimistic view that Meralco customers were to receive reduced charges at the March billing cycle.
“We are hoping that this reduction in the generation charge will be able to temper the anticipated increase in transmission charge due to higher ancillary service charges,” said Joe Zaldarriaga, Meralco vice president and head of corporate communications.
Meralco acknowledged that a refund recently authorized by the Energy Regulatory Commission due to adjustments in gas sale and purchase agreements should also help cut the cost of electricity in March.
In February, Meralco implemented a P0.5738 per kilowatt hour (kWh) increase in rates due to generation charges pushed higher by increased charges from power supply agreements and from independent power producers.
That adjustment amounted to an increase of P115 for residential customers consuming 200 kWh a month that raised the power rate to P11.9168 per kWh from only P11.3430 per kWh.
In the Philippines, the coolest months typically fall in January at 25.5 Celsius but this steadily rises to its warmest point of 28.3 Celsius around May, according to the weather agency Pag-asa.
Globe builds over 1,200 new cell sites, upgrades 7,000 more to LTE broadcast standard
Globe Telecom has made significant strides in expanding its network infrastructure throughout 2023 to provide greater access and reliable connectivity for Filipinos nationwide.
Initial 6.2-km LRT-1 extension line only months away from completion
The Light Rail Manila Corp. (LRMC) on Wednesday said the LRT-1 Cavite Extension Phase 1 is 97 percent complete, boosting optimism of a fourth-quarter opening this year as scheduled.
