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.
The Philippines is calling for deeper integration within the Association of Southeast Asian Nations (ASEAN), warning that stronger regional coordination is now essential as global uncertainties intensify.
Prime Infrastructure Capital Inc. (Prime Infra) hosted a Japanese delegation during a visit to its liquefied natural gas (LNG) complex in Batangas last Friday, the company said Wednesday.
The Department of Energy (DOE) and the Energy Regulatory Commission (ERC) said steps are in place to help protect consumers from rising electricity costs.
San Miguel Food and Beverage Inc. (SMFB) reported a modest 2 percent increase in net income for the first quarter, reaching P11.8 billion from P11.58 billion a year earlier.