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.
Investment approvals by the Board of Investments (BOI) climbed sharply in February, fueled by strong activity in energy and a surge in foreign capital.
The Government Service Insurance System (GSIS) will distribute more than ₱19 billion to around 1.37 million members and pensioners under its Balik Ginhawa refund program.
Fuel prices in the country are expected to increase again this week, driven by global oil market pressures linked to ongoing conflict in the Middle East.
The Bureau of Customs (BOC) is rolling out reforms aimed at helping Philippine exporters navigate current challenges while positioning them for sustained long-term growth, the Export Development Council (EDC) said Sunday, April 5.