ELECTRICITY sales in June eased because of cooler weather, tempering power sales growth for the first half to around 6.5%, Manila Electric Co. (Meralco) said. “For the first five months year-to-date, (we had) growth of 7.5% per annum, but June is trending a little softer because, number one, the rains have started. It’s been cool…
Tag: power prices
Manila Electric Co. (Meralco) likely achieved its core net income guidance of P19 billion last year as overall demand bill volume went up. Meralco chairman Manuel V. Pangilinan told reporters the power distributor is expected to have met its P19 billion core net profit guidance for 2016. “Overall demand bill volume was slightly above eight…
Malampaya funds eyed to lower rates
The government is considering the use of a portion of the P228-billion Malampaya fund to reduce power costs in the Philippines, an energy official said over the weekend. “The DoE was informed that about P228 billion was deposited to the special account of the fund three months ago. This can be verified with the Department…
ERC forms 2 divisions to speed up price collusion probe
The ERC has formed two divisions for a speedy decision-making on the cases of 12 power players that withheld power supply in December 2013 which resulted in record high increase in electricity rates. Currently pending is the decision on the 13 complaints from the ERC-Investigating Unit in violation of Section 45 of Republic Act No. 9136 pertaining…
Winnergy Holdings Corp. 