Energy
Gov’t greenlights offshore wind projects, boosting PH renewable push
PetroEnergy Resources Corp. (PERC), through its affiliate Buhawind Energy Northern Luzon Corp. (BENLC), has secured government approval for its offshore wind initiatives, marking a significant step in the country's renewable energy development.
First Gen 1Q profits slip on lower generation, spot prices
First Gen Corp., one of the country's largest clean and renewable energy producers, reported a 4.9 percent year-on-year decline in net income for the first quarter of 2025 as lower electricity generation and soft spot market prices weighed on financial results.
Lower electricity prices expected to ease burden on households, businesses
Consumers may see relief in their electricity bills as the Independent Electricity Market Operator of the Philippines (IEMOP) projects continued low prices at the Wholesale Electricity Spot Market (WESM), driven by ample power supply and the expanding presence of renewable energy sources.
WESM prices drop 15.3% in April as supply outpaces demand surge
The average price of electricity sold at the Wholesale Electricity Spot Market (WESM) dropped by 15.3 percent in April, offering potential relief to consumers and commercial buyers facing rising summer demand. This was learned from data released Monday by the Independent Electricity Market Operator of the Philippines (IEMOP).
ERC greenlights ancillary services deals bolstering grid stability
The Energy Regulatory Commission (ERC) has approved nine ancillary services procurement agreements (ASPAs) between the National Grid Corporation of the Philippines (NGCP) and several major power producers— a move expected to enhance grid stability and spur investment confidence in the country’s energy sector.
