Tag: LT Group Inc.

Maibarara Geothermal Inc. (MGI) has signed a deal with Lopez Group affiliate ThermaPrime Drilling Corp. to carry out exploratory drilling across Batangas and Laguna from 2026 to 2027. Led by the Yuchengco group, MGI said the work will check untapped areas for possible new geothermal power facilities. The project will involve up to four wells drilled to depths of up to 3,000 meters, with operations set to begin in October this year and finish by May 2027. MGI currently runs a 32-megawatt geothermal plant in Batangas.

Aboitiz Power Corporation reported a 41 percent increase in core net income for the first six months of 2026, reaching P18 billion compared to P12.8 billion recorded in the same period last year. The company shared these figures in a disclosure filed with the Philippine Stock Exchange on Wednesday.

The Manila Electric Company, or Meralco, reported a 3.8 percent increase in its consolidated core net income for the first six months of 2026, reaching P26.5 billion from the P25.5 billion recorded in the same period last year. The company shared these figures at a briefing held on Wednesday, noting the growth came even as overall energy sales saw a slight decline.

The Department of Energy is eyeing immediate measures to curb electricity pilferage as part of the government’s push to remove system loss charges from consumer bills, though major industry players warn the plan could carry a massive price tag.