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.
President Ferdinand Marcos Jr. used his fifth State of the Nation Address on Monday to present an agenda centered on lowering household costs, strengthening energy security and accelerating infrastructure, signaling a renewed focus on economic resilience as global uncertainties persist.
President Ferdinand Marcos Jr. highlighted major energy reforms during his State of the Nation Address, focusing on adopting nuclear energy and removing system loss charges from electricity bills.
ACEN Corporation is developing Zambales into one of the country’s largest renewable energy hubs, with nearly one gigawatt of solar and battery storage capacity. Once fully operational, these projects will generate enough clean power for 340,000 households and cut fossil fuel dependence. Around 450 megawatts are already running, with the rest set to be finished by 2027, alongside new battery systems to ensure steady power supply and grid stability.
Members of the South Cotabato II Electric Cooperative (Socoteco II) have voiced strong support for a proposed partnership with IGNITE Power aimed at upgrading power services across the region, officials confirmed.