Aboitiz Power Corp., the power generation and distribution unit of the Aboitiz Group, posted a net income of P10.6 billion in the third quarter, a 5 percent gain from the year-earlier period, driven mainly by improved margins from its generation segment.
Aboitiz Power Corp. said its wholly-owned subsidiary, Aboitiz Renewables, Inc., has received confirmation from the Power Sector Assets and Liabilities Management Corp. (PSALM) that the Thunder Consortium has been awarded the sale and privatization of the Caliraya-Botocan-Kalayaan (CBK) Hydroelectric Power Plant Complex.
The power distributor Manila Electric Co. (Meralco) is now compelled to temporarily procure supply from the Wholesale Electricity Spot Market (WESM) as the contracted emergency power supply agreement (EPSA) with Aboitiz Power Corp. worth 300 megawatts (MW) ended on Wednesday.
Metro Pacific Tollways Corp. (MPTC) is widening its KaBiyahe Rebate Program to more Luzon expressways, aiming to cushion transport operators from rising fuel costs and steady the movement of essential goods.
The Philippines is seeking closer cooperation with the Food and Agriculture Organization of the United Nations (FAO) following the first official visit of its Director-General, Qu Dongyu, to the Department of Agriculture (DA).
The Department of Agriculture’s Bureau of Fisheries and Aquatic Resources (DA-BFAR) said it will continue providing fuel assistance to fisherfolk nationwide as global oil prices rise.