Energy
PXP Energy widens 1Q loss on weaker Galoc output
Oil and gas exploration company PXP Energy Corp. reported a wider net loss for the first quarter of 2025, with losses ballooning to ₱9.2 million, a significant increase from ₱2.6 million in the same period last year.
Sanyo Denki powers shift to full renewable energy with First Gen partnership
Sanyo Denki Philippines, Inc., the local manufacturing arm of Japan’s Sanyo Denki Co. Ltd., has signed a landmark deal with First Gen Corp. to source 100 percent of its electricity from renewable energy (RE), marking a major step in its global sustainability push.
ENEX eyes LNG power project in Batangas
Ayala-led ENEX Energy Corp. reaffirmed its commitment to developing a liquefied natural gas (LNG)-fired power plant in Batangas, but clarified that the project will only proceed upon securing a long-term offtake agreement through a Competitive Selection Process (CSP).
ACEN launches up to P30-B stock rights offer to fuel renewable expansion
ACEN Corp. has secured board approval for a stock rights offering (SRO) that aims to raise up to ₱30 billion, a strategic move to accelerate the company’s renewable energy expansion and manage debt, company executives said on Wednesday.
New Meralco franchise to start June 2028
Manila Electric Co., the country’s largest power distributor, said its new 25-year franchise will commence upon the expiration of its current license on June 28, 2028.
Better known as Meralco, the company said Republic Act 12146 that grants it a new franchise will take effect 15 days from its publication of at least two newspapers of general circulation. President Ferdinand Marcos Jr. signed the law on April 11.
