AC Energy Holdings Inc. is dipping its foot in the retail energy business, initially targeting a 50-megawatt (MW) supply in the next three years in line with the full implementation of retail competition and open access (RCOA). The Ayala power investment arm has established itself as a retail electricity supplier (RES) after getting the necessary…
Month: October 2016
RP Energy finalizing P30-B bank loans for Subic plant
Redondo Peninsula Energy Inc. (RP Energy) is looking to close a P30-billion loan from three local banks by December to put the construction of its 2×300 megawatt (MW) Subic coal-fired power plant in full swing, a company official said. “We’re in the thick of due diligence and loan agreement discussions with the lenders and our…
RP Energy inks contracts for Subic coal power plant
Redondo Peninsula Energy Inc. (RP Energy) has sealed construction and supply contracts with a local company and a Korean firm to build its 2×300-megawatt (MW) coal-fired power plant in Subic, Zambales. RP Energy signed a construction contract with Azul Torre Construction Inc. and a supply contract with Korean firm Doosan Heavy Industries & Construction Co….
Power spot market prices nearly halved in Sept
Ample supply and cooler temperatures drove Wholesale Electricity Spot Market (WESM) rates down by nearly half as of end-September. In a statement, the Philippine Electricity Market Corp. (PEMC) said there was a considerable dip in the final effective settlement spot prices (ESSPs) for the September 2016 billing period at P2.86 per kilowatt-hour from P4.17 per…
Bill filed to classify power projects of national significance
Sen. Sherwin Gatchalian is mulling a bill aimed to fast-track the processing of critical power projects – an issue raised by power developers for a long time – in order to meet the country’s growing power requirements. A bill will be refiled that will classify energy projects as projects of national significance, said Gatchalian, chairman…
Ayala energy unit doubles investment target to P80 B
AC Energy Holdings Inc. is preparing to double its commitment in the power sector to nearly P80 billion through expansion of existing assets, acquisitions or partnerships, and greenfield projects here and abroad to reach its target portfolio of 2,000 megawatts (MW) by 2020. By then, AC Energy hopes to become a major contributor to its…
ERC approves proposal to supply electricity to Palawan off-grid area
THE Energy Regulatory Commission (ERC) has approved the application of Sabang Renewable Energy Corp. (SREC) to provide electricity to an off-grid site in Puerto Princesa, Palawan. “The approval of [SREC’s] application will benefit the residents and establishments located in the Sabang-Cabayugan area by providing a long-term and strategic solution involving a private-public partnership and by…
New projects to deliver 6,000 MW of capacity
NEW power projects with a combined capacity of 6,161 megawatts (MW) are expected to come on-stream between this year and 2020, latest data from the Department of Energy (DoE) showed. Of the committed capacity, as tallied by the DoE as of Sept. 30, more than 60% or 4,001 MW will be in Luzon. Mindanao will…
AboitizPower sees oversupply in Mindanao
ABOITIZ Power Corp. has joined the chorus of generation companies that expect an oversupply of electricity in Mindanao starting this year and possibly extending into the next five years as new power plants come on-stream on the southern island. “The oversupply in Mindanao is actually serious, it’s huge. Mindanao has a peak requirement of about…
First Gen eyes foreign partners for LNG terminal
FIRST GEN Corp. is offering up to 40% of its proposed $1-billion liquefied natural gas (LNG) regasification terminal in Batangas City to prospective investors, the head of the Lopez-led company said on Thursday. “We are going through a partner selection process. We have very good names in the shortlist. We’re talking to Japanese and European…
CCPI backs use of nuclear power
The Chamber of Commerce of the Philippine Islands (CCPI), the country’s first and oldest business group, is batting for the use of nuclear power and of the mothballed Bataan Nuclear Power Plant (BNPP) to address issues in power supply and high cost of electricity as well as to support the country’s economic development. In a…
Gatchalian seeks lower pass-on power charges
Sen. Sherwin Gatchalian is seeking the immediate passage of a bill, which seeks to lower electricity rates by as much as 15.67 centavos per kilowatt hour through the reduction of charges passed on to consumers by power companies. Senate Bill 1188, or the proposed “Recoverable System Loss Act,” lowers the system loss cap – the…
Winnergy Holdings Corp. 