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 Manila Electric Company (Meralco) on Monday moved to correct misleading claims circulating on social media about electricity bill charges, saying all fees are legal, transparent, and approved by regulators.
Serious lapses in corporate governance, not a lingering family feud as some would have it, drove the decision to remove Federico “Piki” Lopez as president and chief executive officer of Lopez Inc., according to controlling shareholders.
The SM Group is increasing scholarship support for uniformed personnel and their families to improve access to quality education and promote inclusive growth.
TikTok Shop is sharpening its offensive against counterfeit goods in the Philippines, stepping up local enforcement and education as part of a sweeping global purge of IP-violating listings.