Moody’s Analytics said Filipino consumers should still reel from skyrocketing prices in the first six months this year as demand continues to outpace supply in the domestic market.
The National Economic and Development Authority (NEDA) said the Regional Comprehensive Economic Partnership (RCEP) would further enhance the country’s access to global markets.
The Philippines is looking at various tax reforms including excise tax on single-use plastic bags as part of initiatives to address plastic pollution and mitigate the impact of climate change, according to a Department of Finance (DOF) official.
The Energy Regulatory Commission (ERC) has granted the National Transmission Corporation (TransCo) provisional authority to collect a higher Feed-in Tariff Allowance (FIT-All) rate starting this month. The rate will rise to P0.3359 per kilowatt-hour (kWh) from the existing P0.2011 per kWh, marking an increase of P0.1348 per kWh. This adjustment covers the approved working capital allowance (WCA) rate update.
Listed Manila Electric Co., the country’s largest power distributor and better known as Meralco, on Sunday said it will immediately comply with the Energy Regulatory Commission's (ERC) directive to refund about P9.5 billion to customers, backing the government's push to deliver quicker and more transparent electricity bill relief.
The Philippine Chamber of Commerce and Industry (PCCI) said the government's plan to scrap systems loss charges and the value-added tax (VAT) on electricity bills should serve as a springboard for broader reforms aimed at lowering power costs and improving the country's investment competitiveness.
Motorists may finally see relief at the pump as local fuel prices are projected to decrease this week, marking the first rollback following five straight weeks of price hikes.