Energy

The Energy Regulatory Commission (ERC) has approved Mariveles Power Generation Corp.’s application to build and operate a ₱1.87-billion transmission line linking its 1,200-megawatt coal-fired power plant in Bataan to the Luzon Grid.

Crude oil prices surged to a two-week high on Thursday after the US slapped sanctions on Russian energy giants Rosneft and Lukoil, along with dozens of their subsidiaries—a move aimed at cutting off a key source of funding for the Kremlin’s war in Ukraine.

The Inter-Agency Energy Efficiency and Conservation Committee has ordered all government offices to purchase only energy-consuming products (ECPs) that meet the Department of Energy’s (DOE) minimum efficiency standards. This move aims to promote energy savings and reduce public spending.

Araneta City Inc. (ACI) has taken another major step in its sustainability push by becoming one of the first mixed-use developments in the Philippines to adopt retail power aggregation and directly connect to renewable hydroelectric energy. The move covers key properties such as Ali Mall, New Frontier Theater, and the Manhattan Gardens residential complex, in partnership with First Gen Corporation.

Renewable energy firm Raslag Corp. is set to raise up to P1.2 billion through the sale of preferred shares via a private placement, as it accelerates the development of its solar energy portfolio.