Energy
ERC cites market, peso strength in power rate cuts
The Energy Regulatory Commission (ERC) on Thursday reported a decline in average power generation rates across 15 of 17 regions in May this year, citing favorable conditions at the Wholesale Electricity Spot Market (WESM), a drop in imported coal prices, and a stronger peso.
Vivant commits P46B to reach 30% RE goal by 2030
Vivant Corp. has committed up to P46 billion in capital expenditures through 2030 to achieve its goal of having 30 percent of its portfolio sourced from renewable energy (RE), CEO Arlo Sarmiento said at the company’s annual stockholders meeting.
Meralco unit commissions 100 MW ancillary power plant in Singapore
Meralco PowerGen Corp. (MGen) subsidiary Pacific Light Power Pte Ltd. (PLP) based in Singapore has commissioned a 100-megawatt (MW) fast-start ancillary services facility on Jurong Island, boosting its commercial capabilities in the city-state's highly competitive energy market.
Flexible energy sourcing gains ground under RAP
Retail electricity supplier Evo Energi Inc. has been tapped by 22 companies to supply power under the Retail Aggregation Program (RAP), the Energy Regulatory Commission (ERC) said, marking the commercial move toward cost-efficient and flexible energy sourcing in the country.
Fuel prices seen surging on supply fears, not shortages
Fuel prices across the country are forecast sharply higher next week, with gasoline projected to rise by ₱2.30–₱2.50 per liter and diesel by as much as ₱3.40–₱3.60 per liter, according to Jetti Petroleum Inc. president Leo Bellas. This marks potentially the steepest hike this year, surpassing the ₱1.80 per liter adjustment in gasoline recorded on 17 June.
