Energy & Mining
Gold rally powers OceanaGold, doubling profits
OceanaGold (Philippines) Inc. more than doubled second-quarter profit as soaring gold prices more than compensated for lower production, highlighting how a buoyant bullion market continues to shield miners from operational headwinds.
Philippine energy grid plan targets lower power costs
The Philippine Chamber of Commerce and Industry (PCCI) is urging the government to pursue a nationwide energy grid linking the country's major islands, saying the decades-long project could lower electricity costs, strengthen energy security, and unlock more balanced economic growth across the archipelago.
Semirara profit climbs as power offsets weaker coal business
Integrated energy company Semirara Mining and Power Corp. (SMPC) posted higher second-quarter earnings as a strong rebound in its power business more than compensated for weaker coal production, highlighting the benefits of its integrated business model amid volatile energy markets.
Meralco steps up smart metering upgrades to fortify distribution network
Manila Electric Company (Meralco), headed by Manuel V. Pangilinan, is pushing ahead with improvements to its Elevated Metering Transformation (EMX) as part of ongoing efforts to modernize its power distribution system.
Power theft crackdown seen key to lower electricity costs
The Federation of Philippine Industries (FPI) is calling for a tougher crackdown on electricity theft and illegal power connections, arguing that reforms to reduce consumers' electricity bills will have a greater impact if they also address long-standing inefficiencies that continue to drive up costs across the power sector.
