Energy & Mining
CREC solar project aims to lower Pampanga power bills
Citicore Renewable Energy Corp. (CREC) and Pampanga I Electric Cooperative (PELCO I) have begun construction of a 41-megawatt-peak embedded solar facility with battery storage, a project that could help reduce electricity costs and system losses while strengthening energy security in Pampanga.
DMCI profit jumps as mining, power offset Maynilad drag
DMCI Holdings Inc. posted stronger second-quarter earnings as record contributions from its nickel mining business and resilient results from its power, real estate and construction units more than offset a weaker contribution from Maynilad Water Services following the utility's initial public offering.
NPC activates P154-M power projects in Marinduque for better supply
The National Power Corporation (NPC) has energized a new 69-kilovolt transmission line and a 5-megavolt amperes substation linking Mogpog and Buenavista in Marinduque, aiming to improve power reliability across the island province.
Spot power prices drop 13% in July, lower utility bills expected
Electricity prices at the Wholesale Electricity Spot Market (WESM) fell by 13.1 percent nationwide in July, driven by lower overall demand across the country. According to data released by the Independent Electricity Market Operator of the Philippines (IEMOP) during an online briefing, the national spot price dropped to an averaged P8.31 per kilowatt-hour (kWh) as of July 25, down from P9.56 per kWh in June.
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.
