Energy & Mining

ASEAN foreign ministers have warned that escalating tensions in the Middle East could disrupt trade, push up energy costs and strain regional supply chains, raising fresh concerns for businesses already navigating an uncertain global economy.

Former legislator Carlos Isagani Zarate of Bayan Muna on Tuesday criticized the Marcos administration's continued reliance on energy privatization and market liberalization, pointing to recent government data showing that the Philippines now has the highest power rates in Southeast Asia. Zarate argued that the country's staggering electricity costs are the direct result of neoliberal policies, particularly the Electric Power Industry Reform Act, which he said dismantled state control and handed public energy resources over to private corporations.

Renergy firm NKS Solar One Inc. has received official approval from the Energy Regulatory Commission (ERC) to develop and own dedicated transmission infrastructure worth P1.38 billion, which will connect its 250-megawatt floating solar power project on Laguna Lake to the main Luzon power grid.

Gov’t manages impact of major fuel price hikes Energy The Department of Energy announced that local fuel companies will implement significant across-the-board price hikes this week, driven by rising global tensions. Expected per-liter increases could reach as high as ₱3.65 for gasoline, ₱10.68 for diesel, and ₱11.77 for kerosene. This sharp upward adjustment follows a week of mixed price changes and stems directly from the breakdown of the US-Iran truce and recent tanker attacks in the Strait of Hormuz, both of which have disrupted global supply chains and renewed concerns over Middle East petroleum shipments. Despite the steep increases, Energy Secretary Sharon Garin assured the public that the government remains on top of the situation and is taking all legally permissible steps to cushion the impact. Garin emphasized that while the Philippines cannot control international market forces, local fuel inventories remain sufficient and adequate for normal operations. Furthermore, because the country remains under a National Energy Emergency, the energy department is actively coordinating with local government units to prevent illegal activities like hoarding, ensuring that Filipinos can continue their daily routines with confidence.

The Aurora Pacific Economic Zone and Freeport Authority (APECO) is intensifying talks with local and foreign energy firms as it races to secure the reliable, clean electricity needed to unlock billions of pesos in investments in data centers, advanced manufacturing and logistics.