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.
Australia is launching a P2-billion economic program in the Philippines to attract investment, advance business reforms and strengthen fiscal management over the next five years.
Tuesday at the Asian Games handed Gilas Pilipinas women two very different basketball lessons. The 3x3 side found its footing, while the 5x5 squad was reminded that the climb remains a steep one.
The Department of Agriculture is advancing millet as a corn alternative for animal feed — drawing lessons from India — to stabilize supplies, cut production costs, and boost domestic carabao and dairy output.
The Department of Energy is moving to stabilize the Visayas power supply after the grid returned to yellow and red alerts this week, just days after without any warnings.