28 more for contestable power scheme — PEMC

TWENTY-eight electricity consumers using at least 750 kilowatts (kW) have been added to the list of contestable customers, or those who are required to source power from licensed retail electricity suppliers (RES), the Philippine Electricity Market Corp. (PEMC) said on Thursday. As of June 25, 2016, PEMC said 400 customers have participated as contestable customers,…

Rains delay P13-B hydro projects in Bukidnon

Construction of the P13-billion twin hydroelectric projects of Hedcor, Inc. is being delayed due to geological conditions and continuous rains, company officials said on Tuesday. Gregorio Jabonilla, Hedcor vice-president for business development, told reporters that the two run-of-river hydro projects have already been delayed for 110 days when their workers encountered problems at their work…

Aboitiz keen on plant auctions

THE ABOITIZ power group is keen on participating in auctions for the remaining power generation assets that the government is planning to privatize within the next three years, its top official said on Wednesday. This comes as the Power Sector Assets and Liabilities Corp. (PSALM) announced that it was targeting to privatize next year the…

Greenergy fined nearly P1M by SEC

THE SECURITIES and Exchange Commission (SEC) slapped businessman Antonio L. Tiu’s Greenergy Holdings, Inc. with fines total around P1 million for its failure to submit annual and quarterly reports. In a disclosure to the Philippine Stock Exchange on Wednesday, Greenergy said SEC imposed a partial, aggregate penalty of P922,000 on the company for failing to…

SMC in talks to sell stake in Limay plant

DIVERSIFIED San Miguel Corp. (SMC) is discussing with cooperatives the possible sale of a portion of its stake in its clean coal-fired power plant in Limay, Bataan. The country’s most diversified conglomerate has offered as much as 49% of the power plant’s ownership to cooperatives and other customers, its President and Chief Operating Officer Ramon…

PSALM seeks to recover P27.7 B

The Power Sector Assets and Liabilities Management Corp. (PSALM) is seeking regulatory approval for power rate adjustments to cover the stranded debt of the National Power Corp. (Napocor) as well as the fuel and foreign exchange costs incurred last year. In its first filing, PSALM wants to recover P27.67 billion worth of stranded debt of…

Investors swamp P15-B bonds of SMC power arm

Investors swamped the P15-billion bond offer of SMC Global Power Holdings Corp. “It’s at least three times oversubscribed,” said Ed Francisco, president of BDO Capital and Investment Corp. SMC will list the bonds today at the Philippine Dealing System. Read more here.

Government pushes solar power in buildings

The National Economic and Development Authority (NEDA) is in discussions with the Department of Energy (DOE) on the possibility of making it attractive for building owners in business districts to use solar power. Socioeconomic Planning Secretary Ernesto Pernia said increased use of solar power in business centers would help reduce the country’s power requirements. “Solar…

AboitizPower blacklisted by Norwegian central bank from pension fund

Due to its heavy usage of coal, Aboitiz Power Corp. has become the only Philippine-based power firm among the companies initially blacklisted by the Norwegian central bank from the Government Pension Fund Global (GPFG). Norges Bank, the Norwegian central bank, excluded 52 companies worldwide, including 22 firms from the United States, seven each from China…

Government drawing up new energy mix

The government will not touch most of the coal-fired power projects in the pipeline as it plans to determine the appropriate energy mix policy, a ranking government official said yesterday. The government recognizes the need to consult with power industry players over a clear fuel mix policy and the country’s need for a reliable power…

Gotianun firm readies start of Mindanao’s biggest power plant

Mindanao’s largest power plant, built by FDC Utilities Inc. (FDCUI) of the Gotianun family, is ready to supply the much-needed capacity to boost investments in the region. FDCUI subsidiary FDC Misamis Power Corp. announced it synchronized the first unit of its 405-megawatt (MW) flagship coal-fired project in Misamis Oriental. The power plant is expected to…

Thai firm hikes stake in Masinloc power plant

Thai power firm Electricity Generating Public Co. Ltd. (EGCO) has deepened its hold on Masinloc Power Partners Co. Ltd. (MPPCL), the operator of the 630-megawatt (MW) coal-fired power plant in Zambales. EGCO said in a statement it expanded its investment in the Philippines with the successful acquisition of an additional 8.05 percent stake in the…