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.
Basic Energy Corporation plans to spend as much as P1 billion in capital outlays for the remainder of 2026, marking a significant jump from the P100–P200 million recorded in 2025, when the firm only carried out pre-development work for its project pipeline. Chief executive officer Oscar de Venecia Jr. confirmed this during a recent event in Taguig City, noting that around P500 million has already been spent so far this year.
Security Bank announced today that it will provide free fund transfers to all of its customers starting July 10, 2026. This move expands a perk that was previously reserved exclusively for the bank's Gold, Wealth, Corporate, and Business Banking clients.
Electricity prices at the Wholesale Electricity Spot Market (WESM) surged by 22.7 percent in June, driven primarily by a dip in available power supply and frequent grid alerts.
The Philippines is strengthening its push to become a premier destination for Meetings, Incentives, Conferences, and Exhibitions (MICE) tourism, with the successful staging of the Tamiya Mini 4WD Asia Challenge (TMAC) 2026 highlighting the country's ability to host international niche events that generate both tourism and business opportunities.