Energy & Mining

The Department of Energy (DOE) and the Land Bank of the Philippines have signed a memorandum of agreement to operationalize the Philippine Geothermal Resource De-Risking Facility (PGRDF), a $170-million program aimed at reducing the financial risks of early-stage geothermal exploration.

Energy Development Corp. (EDC) plans to allocate about P19 billion as capital expenditures in 2026, lower than present spending levels, as it scales down drilling activities.

The various fuel retailers will raise gasoline prices by P0.20 per liter starting Tuesday morning, while prices of diesel and kerosene will be cut by P0.20 per liter.

The Manila Electric Co., the country largest power distributor better known as Meralco, has launched a Competitive Selection Process (CSP) to secure 200 megaWatts of baseload renewable energy capacity, strengthening compliance with its Renewable Portfolio Standards obligations and signaling fresh momentum for green power procurement.

Listed energy firm Aboitiz Power Corp. said it has moved to fully acquire Ubay Solar Corp., strengthening its push to expand its renewable energy footprint in the Visayas.