Manila Electric Co., the country’s largest power distributor by sales, announced on Tuesday a significant reduction in electricity rates for May, lowering the overall rate to P2.2628 per kiloWatt-hour from P13.0127 in April.
Manila Electric Co. (Meralco), the country's largest power distribution company, posted a 9 percent increase in net income for the first quarter, reaching P10.45 billion, driven by a rise in electricity sales between January and March.
Manila Electric Co., the country’s largest power distributor, said its new 25-year franchise will commence upon the expiration of its current license on June 28, 2028.
Better known as Meralco, the company said Republic Act 12146 that grants it a new franchise will take effect 15 days from its publication of at least two newspapers of general circulation. President Ferdinand Marcos Jr. signed the law on April 11.
The Manila Electric Co. (Meralco), the country’s largest power distributor, pushed back against claims by the Department of Energy (DOE) that its delayed power supply agreement (PSA) is contributing to high electricity prices, calling the accusations “false and misleading.”
President Ferdinand Marcos Jr. has signed into law a measure extending the franchise of Manila Electric Co. (Meralco), the country’s largest power distributor by sales and footprint, for another 25 years through 2050, Malacañan announced Tuesday.
The Department of Agriculture (DA) on Thursday reported that agricultural losses due to the southwest monsoon (habagat) and tropical cyclones Crising, Dante, and Emong have reached ₱454.12 million, based on the latest update from its Disaster Risk Reduction and Management Operations Center.
The budget deficit widened to P241.6 billion in June, up 15.6 percent from P209.1 billion last year as spending outpaced revenue growth, the Bureau of the Treasury said on Thursday.
Basic Energy Corp. is preparing to invest up to P300 million over the next two to three years to fund pre-development activities for its solar and wind energy projects, according to company president and CEO Oscar De Venecia Jr.
Ayala Corp. and key subsidiaries ACEN Corp., Ayala Land Inc., Bank of the Philippine Islands (BPI), and Globe Telecom Inc. have maintained their inclusion in the FTSE4Good Index Series, reaffirming their commitment to robust environmental, social, and governance (ESG) standards.