Energy & Mining
WESM prices drop 3.9% in June, easing power costs
The average electricity price at the Wholesale Electricity Spot Market (WESM) declined by 3.9 percent in June, bringing the national rate down to ₱3.86 per kilowatt hour (kWh) from ₱4.01/kWh in May, according to data from the Independent Electricity Market Operator of the Philippines (IEMOP).
RCBC renewable energy loans surpass coal for first time
Rizal Commercial Banking Corp. (RCBC) said Wednesday that its renewable energy (RE) loan portfolio has surpassed its coal financing for the first time, marking a major milestone in its shift toward sustainable finance.
Fuel price rollbacks expected next week, bringing relief to motorists
Motorists may see another round of fuel price rollbacks next week, with Jetti Petroleum Inc. projecting reductions of ₱1.00 to ₱1.20 per liter for gasoline and ₱0.40 to ₱0.60 for diesel, based on the three-day Mean of Platts Singapore (MOPS) indicators.
DOE commissions 41.9-MW solar project in Bataan
The Department of Energy (DOE), in partnership with local firm Samal Solar Renewable Energy Corp., has commissioned a 41.920-megawatt (MW) solar power project in Bataan, marking a significant step toward boosting the country’s renewable energy capacity.
Think tank slams proposed CSP exemption of nuclear proponent
Sustainability group Center for Energy, Ecology, and Development (CEED) has raised strong objections to the Department of Energy’s (DOE) draft circular proposing the integration of nuclear energy into the national power mix, particularly the exemption of the country’s first nuclear power plant from the Competitive Selection Process (CSP).
