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.
Inflation in the Philippines likely increased in March, driven mainly by rising global energy prices linked to tensions in the Middle East, according to Moody’s Analytics.
The Department of Trade and Industry on Monday launched a P4-billion MSME Business Fund to help small enterprises weather global uncertainties, including the ongoing Middle East crisis.
CIMB Bank Philippines has introduced CIMB Prime, a new premium banking segment offering higher interest rates, reduced fees, and priority customer service for qualified clients.