The social media hive mind is as fast as it is vicious. Say or do something triggering and you could find yourself going viral and getting canceled.听

鈥淭he common definition of cancel culture is that it鈥檚 a form of public shaming. Sociologically, it鈥檚 society鈥檚 way of regulating itself. When we cancel somebody, you鈥檙e making a moral judgment,鈥� says Nicole C. Curato, a Professor of Political Sociology at Centre for Deliberative Democracy and Global Governance at the University of Canberra. 鈥淭he key to understanding cancel culture is that there鈥檚 an element of unmet expectation.鈥�

In this听B-Side听episode, Ms. Curato tells former听大象传媒听reporter Marielle C. Lucenio what it means to get canceled and whether businesses should risk taking a political stand knowing that they could face backlash.

Nina Ellaine Dizon-Cabrera, founder and chief executive officer of Colourette Cosmetics, also shares what it was like when Twitter tried to cancel her in November 2020, after she used the hashtag #NasaanAngPangulo.

Recorded remotely in February 2022. Produced by and Sam L. Marcelo.

In a media release, Meralco said that aside from providing 鈥渞esilient and flexible鈥� power to the telecommunications company鈥檚 11^th hyperscale data center, the substation will have the capacity to scale up and cater to the growing power demand through additional power banks.

This substation design will ensure service continuity that goes beyond the standard requirements of the TIA-942 Rated 3 coverage, Meralco said.

鈥淭he new Meralco substation is designed to support the distinct power requirements of this VITRO Sta. Rosa hyperscale data center through the delivery of safe, adequate, reliable, and high-quality electricity service, consistent with our commitment to our 7.4 million customers,鈥� Meralco Senior Vice-President and Head of Networks Ronnie L. Aperocho said in a statement.

Meanwhile, PLDT President and Chief Executive Officer Alfredo S. Panlilio said VITRO Sta. Rosa, the company鈥檚 hyperscale data center, is seen to 鈥渟et the benchmark in infrastructure resilience, operational excellence, global competitiveness, and world-class sustainability.鈥�

Meralco President and Chief Executive Officer Ray C. Atienza said the partnership is 鈥渢imely鈥� as the power provider has committed to source 1,500 megawatts from clean energy sources in the next five years.

VITRO Sta. Rosa is designed to be energy efficient utilizing the latest innovations in cooling and power redundancy. It is Tier-3 certified and Tier-4 ready, and has the highest level of network diversity and resilience with at least three fiber routes from PLDT, augmented by routes from other carriers, Meralco said.

Meralco鈥檚 controlling stakeholder, Beacon Electric Asset Holdings, Inc., is partly owned by PLDT. Hastings Holdings, Inc., a unit of PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc., has an interest in 大象传媒 through the Philippine Star Group, which it controls.

Meralco shares at the local bourse went up P5.40 or 1.47% on Thursday to close at P373.60 apiece. 鈥� Marielle C. Lucenio

In a disclosure to the exchange on Thursday, ACEN said it would shell out a $140.2 million as the subscription price to the shares of its Singapore-based unit. The listed energy platform is the controlling shareholder of ACEN International through AC Energy International, Inc.

The subscription payment will be used by ACEN International for its projects in various renewable energy and development companies in Indonesia, Vietnam, India, and Australia wherein it holds interests.

On March 15, ACEN through ACEN International took full control of its Australia joint venture company UPC-AC Renewables Australia after buying the 52% stake of its partner UPC Renewables Asia-Pacific Holdings Pte. Ltd. and Anton Rohner.

The acquisition was valued at $243.4 million, which will be paid in two tranches. It is expected to be completed by the first quarter of next year.

UPC-AC Renewables Australia is building a 520-megawatts (MW) solar farm in New England, Australia and has a development pipeline of more than 8,000 MW spanning New South Wales, Tasmania, Victoria, and South Australia.

ACEN is targeting to become the biggest listed energy platform in Southeast Asia as it aims to put up 5,000 MW of renewable energy capacity by 2025.

At home, the company is building around 484 MW of wind and solar capacity. Across the region, it has around 3,800 MW of attributable net capacity, of which, renewables account for a share of 87% or 3,300 MW.

At the stock exchange, ACEN shares on Thursday went up by 20 centavos or 2.34% to close at P8.73 apiece. 鈥� Marielle C. Lucenio

Rates rose to P6.97 per kilowatt-hour as of March 25, from P6.19 at the end of February, the Independent Electricity Market Operator of the Philippines (IEMOP) said at a virtual briefing on Thursday.

While the supply of power increased by 695 megawatts (MW).

鈥淒emand also increased in March by 820 MW or 8.38% higher than the usage in February,鈥� IEMOP Stakeholder Communications Specialist Danyella Santiago said.

The market operator said the rise in demand may be attributed to the easing of the quarantine setting to Alert Level 1 in Metro Manila starting March 1. Other provinces followed with more relaxed quarantine measures starting March 16.

鈥淪o far, the peak demand of the year was recorded on March 23 which amounted to around 13,749 MW; thereby surpassing the peak demand of the previous month which was 11,985 MW,鈥� it said in a statement issued after the briefing.

The March demand peak was higher than demand in the same month before the pandemic.

Demand typically rises about 40% in the dry season, peaking in May.

The National Grid Corp. of the Philippines had forecast a peak demand of 12,387 MW for Luzon this year for the last week of May. The actual 2021 peak was 11,640 MW on May 28 that year.

Meanwhile, demand in the Visayas grid is expected to peak at 2,528 MW, up from 2,252 MW recorded on Dec. 13, 2021. Demand in the Mindanao grid is expected to peak at 2,223 MW, against the 2,144-MW peak on Aug. 4, 2021.

Asked about the suspension of secondary price caps, IEMOP Chief Operating Officer Robinson P. Descanzo said the market is waiting for an order from the听Energy Regulatory Commission (ERC).

鈥淯ntil now, we don鈥檛 have an order for the market to suspend (the secondary price cap). Personally, I think there are other mechanisms that will allow the generators to at least recover their costs on the particular day or month,鈥� he said.

Due to soaring oil and coal prices, power generators have asked the government to raise the P6.245 secondary price cap, which was imposed by the ERC to 鈥減rotect the public and prevent the repetition of excessive and unreasonable high market prices.鈥�

Mr. Descanzo said a suspension of the cap must be studied to find a resolution that allows generators to recover their costs while protecting consumers from any abrupt increase in prices. 鈥� Marielle C. Lucenio

鈥淲e eagerly look forward to learning about how we can generate baseload power that is technically and financially feasible and also scalable,鈥� AboitizPower President and Chief Executive Officer Emmanuel V. Rubio said in a statement.

Aside from exploring the potential of RE for baseload power, the study will also evaluate hybrid photovoltaic and energy storage technology, and assess the technical and economic viability of combining different RE sources to generate power.

Mr. Rubio said AboitizPower expects the study to be 鈥渂espoke鈥� based on the country鈥檚 national resources, climate, and geography so it will fit the energy system.

Meanwhile, IFC Regional Vice-President for Asia and the Pacific Alfonso Garcia Mora said the company is 鈥渃onfident that renewables will offer a viable path鈥� for the country.

鈥淗arnessing cleaner and natural resources, including solar and wind, will enable the country to diversify its energy mix and improve energy security while also tackling climate change impacts,鈥� Mr. Garcia Mora added.

IFC, a member of the World Bank group, invests in the private sector specifically in projects that can boost sustainable economic growth such as renewable energy.

The Aboitiz group鈥檚 power generation, distribution, and retail electricity services company earmarked P190 billion for investment in clean energy. It aims to add 3,600 megawatt (MW) of capacity to reach its 2030 RE target of 4,600 MW, or more than half of its projected 9,200-MW total generation capacity.

鈥淭o grow RE above and beyond the 2030 ambition and to begin reducing carbon dioxide emissions from the Philippine power system, we must find ways to displace fossil fuel burning baseload power with zero-emissions power generation technologies,鈥� Mr. Rubio said.

At the stock exchange, shares in AboitizPower went up by 75 centavos or 2.15% to close at P35.70 apiece on Wednesday. 鈥� Marielle C. Lucenio

At a virtual briefing on Wednesday, ICSC听Energy Transition Advisor听Alberto听R.听Dalusung听III called on the government to start preparing the market for demand-side management measures as such a course of action is 鈥渢he quickest to implement鈥� among the realistic options, such as requiring solar rooftops and encouraging industrial firms with their own generating facilities from drawing power from the gird.

鈥淭he Department of Energy (DoE) has to make an assessment what else that needs to be done and I suppose things like triggering the interruptible load program where industries do not consume from the grid, but use their own generation,鈥� he said.

鈥淚t鈥檚 important that even the general public participate. If you can reduce your consumption particularly during 10 a.m. to 2 p.m., during the peak in Luzon鈥� the proper choices (can help ensure more power supply),鈥� he added.

On Wednesday, the think tank reiterated its earlier projection of a power shortage around the time of the elections on May 9 as well as the vote count. It expects rotating blackouts if some power plants have to shut down.

鈥淔rom the National Grid Corp. of the Philippines鈥� (NGCP) official power outlook, the thin operating reserves will start on the third week of April until the last week of May,鈥澨齀CSC Chief Data Scientist听Jephraim C. Manansala said during a virtual briefing.

Mr. Manansala said that if baseload coal plants remain shut down during these months, forced outages could deplete the operating reserve and could trigger rotating brownouts.

鈥淏lackouts will only occur if the operating reserves are depleted below the grid requirements,鈥� he added, noting that two coal-fired power plants with a total combined capacity of 423 megawatts (MW) are currently shut down.

Over the weekend, the grid operator placed the Luzon grid on yellow alert, signifying thinning power reserves, after seven power plants suffered forced outages.

Nazrin Camille D. Castro, manager of nonprofit organization The Climate Reality Project, said 鈥渦nreliable electricity supply will undermine the credibility of the elections.鈥�

鈥淲e will expect power outages on election day, like previous elections, which will cast doubt again on the whole electoral process due to the delay of the casting and counting of ballots. It happened several times before, so there should be no excuses (if it happens) again,鈥� Ms. Castro said.

Ms. Castro noted that household consumers have the highest share of total energy consumption at 31%.

鈥淚f all consumers would chip in and practice energy efficiency during these peak hours, I think it would be a big help during these seasons,鈥� she said.

Mr. Dalusung said that urging the consumers to manage their usage 鈥渃an鈥檛 be done unless there are cues from the government that it has to be done to ensure credibility in our elections.鈥�

Last week, the DoE issued听an advisory to government agencies to conserve energy as fuel prices rose, to ensure adequate supply during the May elections.

The DoE had called on the public to observe Earth Hour, noting that shutting off non-essentials resulted in a savings of 65.32 MW nationwide.

The savings included 35.26 MW in Luzon, 15.3 MW in Mindanao, and 14.76 MW in the Visayas, the DoE said.

鈥淲e hope to sustain this reduction听through consistent energy efficiency and conservation practices. The first step is to be mindful of our energy consumption habits, especially during periods of high听demand such as this summer,鈥� Energy Secretary Alfonso G. Cusi said previously in a statement. 鈥� Marielle C. Lucenio

MPTC said in a statement that it had signed a 鈥渄efinitive agreement鈥� on Monday to purchase the stake in Byahe, which is in line with its move into mobility solutions and its focus on sustainability.

鈥淎s part of this agreement, MPTC will infuse fresh equity in Byahe, which will be used to finance expansion of its current Euro-IV compliant fleet, procurement of new state-of-the-art electric jeepneys, and expansion of its route network as part of its larger mission to revolutionize Philippines鈥� jeepney transportation ecosystem,鈥� the company said.

Byahe manages a fleet of 30 modernized jeepneys, all of which are Euro-IV compliant. The jeepneys ply over eight routes across Metro Manila and other parts of Luzon.

The company plans to expand its fleet to 200 jeepneys in the near term and to 500 jeepneys across 20-30 routes over the next two to three years, fueled by MPTC鈥檚 capital infusion.

MPTC鈥檚 investment in Byahe comes after the launch of its mobile app, MPT DriveHub, which connects and compiles its expressway and mobility products and services in a digital platform.

鈥淲e believe there is immense value in what Byahe could create for the improvement of Filipino lives. They have started strong with a well-thought strategy, have been executing well even through the pandemic and we鈥檙e excited to support them on this clean, green journey鈥� MPTC President and Chief Executive Officer Rodrigo E. Franco said in a statement.

Byahe Chief Executive Laurence Bahia said the company is 鈥渉ere to modernize, not only the carriers, but also the operations with fleet management solutions that will standardize the service.鈥�

Byahe is a modernized jeepney operator that is set up in line with the government鈥檚 public utility vehicle modernization program. It serves as a platform linking jeepney operators, creditors, jeepney manufacturers, the government, and the commuters to offer affordable and sustainable public transportation services network. 鈥� Marielle C. Lucenio

鈥淥il price hikes and volatility will definitely add more pressure to increase renewable energy (RE) deployment especially for the Small Power Utilities Group (SPUG) which rely heavily on diesel. The ridiculously high price of oil for power 鈥� in some cases over P100 per kilowatt-hour 鈥� is subsidized by the average Filipino consumer as well, which does contribute to our high electricity prices,鈥澨齎erne Energy Solutions Chief Executive Johnny A. Altomonte said听via chat message.

SPUG is a unit of the National Power Corp. that oversees the provision of power to remote, off-grid communities.

The transition will be hastened by the imminent rise in power prices, with the impact of the Russia-Ukraine war on fuel prices expected to start showing up in power bills by May, Manila Electric Co. (Meralco) has said.

鈥淚n the past weeks, world crude oil prices have been increasing (and) this will eventually be reflected in the cost of Malampaya natural gas and thereafter, on the generation cost,鈥� Meralco Vice-President and Head of Utility Economics Larry S. Fernandez said during a March 10 briefing.

鈥淔or now, we won鈥檛 feel it as Malampaya prices are being updated quarterly, and will next be updated in April, to be reflected in the May generation charge.鈥�

Lawyer and energy and environmental policy expert Antonio M. La Vi帽a said the spike in fuel prices will accelerate clean-energy adoption as conventional fuel products and power generated from fossil fuels become unaffordable.

In 2020, the Philippines鈥� power generation mix was 57% from coal-fired facilities, 21% from renewable energy, 19% from natural gas, and 2% from oil.

ATN Holdings, Inc. said recently that it is developing a 1.4-megawatt (MW) solar power plant to supply its crusher plant and electric trucks used in its mining operations.

鈥淎TN Solar will accelerate its renewable energy adoption through its 鈥榓lignment with the low-carbon economy transformation blueprint鈥� for timely energy conservation and energy efficiency at a time when commodities are at an all-time high,鈥� the company said in a disclosure to the exchange last week.

Last week, MSpectrum, Inc.鈥檚 President and Chief Executive Ferdinand O. Geluz noted that hardware chain Wilcon Depot, Inc. has started switching to solar power at its branches.

So far, Wilcon has installed solar power at more than 30 of its stores, having tapped MSpectrum, a unit of Manila Electric Co., to install capacity of 1,306.46 MW across its network.

鈥淣ot only does (solar power) reduce (the company鈥檚) carbon footprint, it also reduces energy costs, which drives operational efficiencies,鈥� Mr. Geluz said on March 22.

Ayala Group鈥檚 listed energy unit AC Energy Corp. has said that it has registered its first batch of customers participating in the government鈥檚 Green Energy Option Program (GEOP).

鈥淩enewables are even more sensible at this time when fossil fuel prices are skyrocketing and to preserve our planet for the next generation,鈥� ACEN Executive Director and Head of Commercial Operations Roman Miguel G. De Jesus said in a statement.

GEOP is a Department of Energy (DoE) program for power users that consumes at least 100 kilowatts. GEOP allows these users to source their power from accredited renewable energy suppliers.

The government has set a target of a 35% renewable energy share in the power mix by 2030.

Center for Energy, Ecology, and Development Executive Director Gerry C. Arances said that the government needs to ensure the transition happens promptly, including providing financing.

鈥淭he听government needs to hasten the implementation of all RE mechanisms (which will) encourage the expansion and establishment of more financing (channels) such as the Development Bank of the Philippines鈥� merchant solar financing facility,鈥� Mr. Arances said in a Viber message on Monday.

听He also said that the government, including local government units, must also ensure the adoption of solar power in all its government buildings.

鈥淩idiculously high oil prices today can definitely be a turning point for renewables鈥� Dependence on dirty energy (highlights the vulnerability of) a country relying on fossil fuels鈥� to global shocks,鈥� he said.

鈥淎 swift transition to 100% renewable energy is the only viable way forward, but having sufficient policy and financial leadership and support to get there is an altogether different matter,鈥� he added.

Since the start of the year, fuel prices have risen P18.30 per liter for gasoline, P27.85 per liter for diesel and P25.75 per liter for kerosene.

DoE Oil Industry Management Bureau Director Rino E. Abad said on Monday that fuel prices 鈥渨ill continue to be volatile in the next weeks.鈥�

鈥淧rices are very unstable now as trade is easily affected by (events like the attack on the Saudi Aramco petroleum storage facility (in Jeddah) and the lockdowns in China,鈥� he said via Viber on Monday. 鈥� Marielle C. Lucenio

The joint venture company Natures Renewable Energy Development Corp. (Naredco) will develop, own, and operate the solar plant and transmission line in Lal-lo, Cagayan by the second quarter of this year.

Naredco will construct the solar farm and transmission line in a 115-hectare land in Brgy. Magapit and Brgy. Sta. Maria, which will connect to the 69-kilovolt Lal-lo substation through a 3-kilometer transmission line by the second quarter of this year.

鈥淲e are delighted to be working with CleanTech to help accelerate our country鈥檚 shift to a low carbon economy and add more renewables capacity to our existing 3,300 MW,鈥� said ACEN Chief Development Officer Jose Maria P. Zabaleta in a statement.

In December, ACEN and ACE Endevor bought the 60% stake in Naredco, leaving CleanTech with a 40% stake in the renewable energy development company.

鈥淭here is much work to be done, but step by step and together with our partners, we will lead the way towards a sustainable future,鈥� Salvador Antonio R. Castro, Jr., president and chief executive officer of CleanTech.

The projects are being eyed to be operational by early next year. Once completed, it is expected to produce 188 gigawatt-hours of renewable energy every year, enough to power 75,000 households while avoiding approximately 112,405 metric tons of carbon dioxide emissions annually.

ACEN aims to become the biggest listed energy platform in Southeast Asia as it plans to put up 5,000 MW of renewable energy capacity by 2025.

In 2021, along with the Ayala group, it also committed to achieve net zero 鈥� the balance between the greenhouse gas it produces and what it removes 鈥� by 2050.

Shares in ACEN at the local bourse went up by 8 centavos or 0.96% to close at P8.38 apiece on Monday. 鈥� Marielle C. Lucenio

In a disclosure to the exchange, the listed oil firm logged P2.3 billion in core earnings, or nearly eight times higher than the previous year鈥檚 P300 million.

It also maintained a P1.8-billion operational cash flow as it continues 鈥渢o sustain proactive management of costs, working capital and cash inflows.鈥�

鈥淥ur strategy of powering progress for the Philippines is working, despite the challenges brought by an unprecedented global health crisis and the lockdowns it triggered,鈥� Pilipinas Shell President and Chief Executive Officer Lorelie Quiambao-Osial said in a statement.

鈥淚t has enabled us to remain agile and resilient throughout the challenging period, placing us in a good position for today鈥檚 recovery. We remain firm in our commitment to serve the public who are rediscovering the joys of mobility,鈥� she added.

Pilipinas Shell said that its fuel marketing volumes began to go up when the government has lifted the coronavirus disease 2019 (COVID-19) lockdown and became more aggressive with its vaccination drives.

In a separate disclosure, the firm said it recorded a 12.9% increase in net sales to P17.72 billion from 2020鈥檚 P15.7 billion.

In terms of volume among its segments, its lubricant business remained to be its main growth driver with a 30% increase. Bitumen sales followed with a 12% growth. The company is the only bitumen or asphalt producer in the country.

Ms. Quiambao-Osial said she hopes that 鈥渕arketing volumes continue to improve as more people get fully vaccinated, feel safer and get back on the road.鈥�

In September 2021, Pilipinas Shell opened its first 鈥淪ite of the Future鈥� in Silang, Cavite, a mobile station that provides fuel and other products and services. It was followed by 42 other new stations.

The presence of some 70 popular Filipino restaurants and lifestyle brands in these stations provides Pilipinas Shell customers a wide variety of non-fuel-retail (NFR) products, the company said.

A double-digit growth across its NFR segment 鈥� including 187 Shell Select stores; 224 Select Express stores; 75 Deli2Go kiosks; 455 lube bays; and 370 Shell Helix centers 鈥� was recorded as its profitability reached pre-pandemic levels.

At the local bourse, shares in the oil company on Monday went up by 30 centavos or 1.69% to close P18 apiece. 鈥� Marielle C. Lucenio

Those facing fines, based on Nov. 2021 ERC decisions, are Davao del Norte Electric Cooperative, Inc. which has been renamed as Northern Davao Electric Cooperative (Nordeco), Busuanga Island Electric Cooperative, Inc. (BISELCO), Lubang Island Electric Cooperative, Inc. (LUBELCO), and Samar II Electric Cooperative, Inc. (SAMELCO II).听听

ERC ordered the payment of penalties after finding the four distribution utilities guilty of violating Resolution No. 24 Series of 2011, which mandates the submission of documents like electronic and scanned copies of power supplier鈥�s invoice, transmission invoice, consumer bills, and debit/credit memorandum monthly.听

ERC said that it has been considerate to the utilities by allowing them to consolidate their monthly reports into an annual submission by the end of every year.听听

However, the regulatory body said, such leniency cannot be extended to those 鈥�that have incomplete submissions or those that did not submit consolidated annual report for each year.鈥澨�听

Nordeco, BISECO and SAMELCO II were ordered to pay P700,000 each for seven counts of the violation from Jan. 2012 to 2018. LUBELCO was directed to pay P400,000 for four counts of violations.听

鈥�Continued failure to comply with the URR (uniform reportorial requirements) will merit the imposition of harsher penalties as provided under the commission鈥�s rules,鈥� the ERC said in its decisions. 鈥� Marielle C. Lucenio听

The National Grid Corp. of the Philippines (NGCP) said in a Viber message that the yellow alert was in force between 6 p.m. and 11 p.m.

It said that the operating requirement for Saturday was 9,998 MW, while available capacity on the grid was 10,487 MW.

Yellow alerts signify thinning power reserves and can worsen to red alerts if the supply-demand balance goes to the extent of requiring rotating brownouts.

The NGCP said the plants that experienced unplanned outages were Unit 1 of the GN Power Dinginin plant, Unit 2 of South Luzon Thermal Energy, Units 2, 3, 4 of Southwest Luzon Power, Unit 2 of Calaca power plant, and Kalayaan power plant.

On top of that, four plants were operating under reduced capacity, removing a combined 823 MW from the grid, bringing the total unplanned unavailable energy to 2,834 MW.

The yellow alert was eventually lifted 鈥渄ue to receding demand.鈥�

The dry season officially started last week, the period when power demand tends to rise due to the increased need for cooling.

According to the NGCP, the 2022 forecast peak for demand of 12,387 MW for Luzon will take place in the last week of May, higher by 747 MW than the actual 2021 peak of 11,640 MW, which occurred on May 28, 2021.

The yellow alert was in force during the observance of Earth Hour. The Energy department had called on the public to switch off non-essential lights between 8:30 p.m. and 9:30 p.m.

Energy Secretary Alfonso. G. Cusi said participation in Earth Hour was 鈥渁 significant contribution to our country鈥檚 energy efficiency and conservation eff辞谤迟蝉.鈥�

Last week, the Department of Energy called on all government agencies to fully implement energy efficiency and conservation projects to help ensure adequate energy supply in the run-up to the May elections. 鈥� Marielle C. Lucenio

鈥淭he option shares of 327,273,000 common shares will be fully exercised,鈥� CREIT鈥檚 stabilizing agent BDO Capital & Investment Corp. said in a Notice of Exercise of Overallotment Option filed to the exchange.

CREIT initially offered 2.18 billion common shares with the over-allotment option at offer price of P2.55 apiece.

鈥淭he reason behind CREIT鈥檚 usage of the overallotment option is due to strong demand from investors,鈥� CREIT President Oliver Y. Tan said a Viber message.

It can be recalled that the company has deferred its market debut earlier due to 鈥渧oluminous transactions.鈥� On its listing day on Feb. 22, CREIT ended 11.37% higher, closing at P2.84 apiece from its IPO price of P2.55.

The country鈥檚 first energy-focused REIT sold 2.509 billion shares for P2.55 apiece. It sold 1.05 billion primary common shares, while sponsor Citicore Renewable Energy Corp. (CREC) sold 1.13 billion secondary shares and an over-allotment of 327.27 million shares.

It was said that the net proceeds from the IPO will be used to purchase properties in Bulacan and South Cotabato.

On March 9, CREIT reported that its board of directors approved to purchase land parcels from Citicore Solar Bulacan, Inc. with an aggregated area of 253,880 square meters (sq.m.) in Bulacan for P1.75 billion and a 79,997 sq.m. of land worth P753.8 million from Citicore Solar South Cotabato, Inc.

CREIT targets to boost its power portfolio to 1,500 megawatts (MW) in the next five years, from the existing 145 MW, to meet growing demand for renewable energy.

The company鈥檚 shares at the exchange went down by five centavos or 1.88% on Thursday to close at P2.61 apiece. 鈥� Marielle C. Lucenio

鈥淲e did the math and we saw some savings but more importantly, it is the quality of life that we give to our students on campus. They see that we walk the talk, they see that our campus is green, and the savings from our en-ergy is also passed on to our students so economically, it has benefited the university as far as energy use is concerned,鈥� SU鈥檚 Vice President for Development Jane Annette L. Belarmino said in a statement sent on Wednesday.

From its initial two-year contract in 2020, the university in Dumaguete City, Negros Oriental was able to reduce 2,602 tons of carbon dioxide equivalent.

The geothermal power will be generated locally from EDC鈥檚 Nasulo geothermal facility in Valencia, Negros Oriental, the company said.

鈥淸The renewal of contract is] our institution鈥檚 commitment in institutionalizing our Environmental Principles, Policies, and Guidelines that serves as the blueprint for the university鈥檚 major component activities in which the re-newable energy utilization is one,鈥� SU President Betty Cernol McCann said.

Apart from the power supply agreement, EDC and SU are also partners in planting 10 million trees for 10 years to rehabilitate the forests on Negros Island.

鈥淚n 2020, SU and EDC inked a memorandum of agreement to establish the Silliman-EDC BINHI Arboretum inside the Center for Tropical Conservation Studies (CENTROP), the university鈥檚 field laboratory grounds in Palinpinon, Valencia, Negros Oriental, to provide a safe haven for the long-term survival of our Philippine native trees,鈥� the company said.

Last year, SU also committed to EDC鈥檚 net zero carbon alliance, which targets to forge collaboration with different entities in the county that have committed to becoming carbon neutral and helping decarbonization efforts na-tionwide.

EDC, a subsidiary of First Gen Corp., has over 1,480 megawatts (MW) in its portfolio, accounting for 20% of the country鈥檚 installed renewable energy capacity. Its 1,181-MW geothermal portfolio accounts for 62% of the country鈥檚 installed geothermal capacity. 鈥� Marielle C. Lucenio

鈥淓Vs do not spew CO₂ (carbon dioxide) and other pollutants into the atmosphere, and these vehicles鈥� increasing popularity now expands their role in reducing emissions from the transport sector. By utilizing a solar-powered charging station, even the power used to charge the EVs becomes clean. This further optimizes and enhances the role of EVs in cutting down CO₂ emissions and mitigating climate change,鈥� First Gen President Francis Giles B. Puno said in a media release.

The project will be used inside the company鈥檚 Clean Energy Complex in Batangas City, supporting its push for reduced carbon emissions.

First Gen said under the GreenWheels project, it developed a fast EV charging station, which can accommodate multiple EVs, inside the complex.

鈥淔or the test vehicle, First Gen has acquired a Nissan LEAF, one of the first passenger EVs to hit the Philippine market,鈥� it said.

After the pilot testing, the electric vehicle unit was calculated to be able to reduce 3 tons of carbon emissions after a 50-kilometer drive a day. A car that runs on fossil fuel can emit the same amount of carbon emission in a year.

The same calculations showed the acquired car can run up to 311 kilometers in one full charge.

Mr. Puno said the transport sector is a 鈥渃rucial鈥� factor in mitigating climate change.

鈥淎s part, therefore, of our mission to forge collaborative pathways for a decarbonized and regenerative future, we are pilot-testing the GreenWheels Project to understand its potential in reducing our carbon footprint and evaluate the feasibility later of developing it,鈥� he said.

On Monday, First Gen reported that it ended last year with 鈥渇lat earnings鈥� of P12.4 billion attributable to equity holders due to more expensive fuel prices offsetting higher electricity sales as power demand recovered to pre-pandemic levels.

First Gen shares at the local bourse went up 30 centavos or 1.24% to close at P24.55 apiece on Wednesday. 鈥� Marielle C. Lucenio

In a disclosure to the exchange, ACEN said the subscribers were UPC Philippines Partners Ltd. for 19,059,423 shares; Wind City, Inc. for 142,668,634 shares; Estanyol Holdings Ltd. for 153,493,200 shares; Tenggay Holdings Ltd. for 70,525,763 shares; and Alan Kerr or collectively known as the UPC Philippines group for 4,248,813 shares.

The Ayala-led company earlier said its board of directors had approved the issuance of up to 390 million ACEN common shares to the owners, affiliates, and/or partners of UPC Philippines priced at P11.32 apiece.

鈥淭he subscription price was determined taking into account the volume-weighted average price for the previous three trading days prior to the submission of the allocation notice on March 21,鈥� the company said, adding that the prevailing US dollar-Philippine peso exchange rate was also used.

Earlier, ACEN and it energy developer subsidiary ACE Endevor, Inc. signed an agreement to purchase the ownership interest and subscription rights of UPC Philippines Wind Investment Co. BV and a certain Stella Marie L. Sutton in 12 power companies.

The move to take over UPC Philippines will allow ACEN to have ownership of the former鈥檚 development projects consisting of more than 2,300
megawatts (MW) of pipeline projects currently under development.

ACEN aims to become the biggest listed energy platform in Southeast Asia as it plans to put up 5,000 MW of renewable energy (RE) capacity by 2025.

Shares in the company went up by six centavos or 0.75% to P8.03 apiece at the stock exchange on Wednesday. 鈥� Marielle C. Lucenio

鈥�(The solar power industry) can really take over (from) traditional energy sources,鈥� according to Todd Li, president of Trina Solar Asia Pacific, at a virtual briefing on Wednesday, citing the declining cost of generating electricity from solar.

鈥淲hen I joined this industry around 2009-2010, the modules cost more than $3 a watt, and if we look at the price today, it has dramatically decreased over the last 10 years. But raw supply issues may affect (the rate at which costs decline). But if supply can be sustained, the cost of not only the solar modules, but of (the power generated) will continuously decline,鈥� he said.

Mr. Li said that global installations of solar power last year amounted to 170-180 gigawatts (GW), with the supply chain capable of supporting around 250 GW-300 GW.

鈥淣ext year, we see (sufficient) supply,鈥� he said.

Trina Solar launched on Wednesday听its latest Vertex 670-watt module, which promises output enhancement of up to 34% compared with older systems, resulting in about 1.2% additional savings for residential solar users.

Mr. Li said over the next five years, it aims to focus on large-scale commercial and industrial projects, which it called the main driver of growth in the solar market.

Trina is also open to collaborating with more Philippine solar companies, following a current tieup with Solar Philippines Power Project Holdings, Inc.

Trina has a goal of installing 1.5 GW of solar power a year in the Philippines over the next 10-20 years.

In 2020, the Philippines鈥� power generation mix consisted of 57% coal-fired facilities, 21% renewable energy, 19% natural gas, and 2% oil. 鈥� Marielle C. Lucenio

In a disclosure submitted to the exchange, the oil and gas exploration company said that on March 21, its executive committee, by the authority of its board of directors, approved its plan to conduct a follow-on offering of 74 million shares priced at P10 to P11.84 apiece.

The Ayala-led firm is also set to resume its drilling activities in Service Contract (SC) 55 exploration block, which spreads across 9,880 square meters in the West Philippine Sea off the coast of Palawan.

In a separate disclosure filed earlier, the company said the Energy department cleared Palawan55 Exploration & Production Corp., its joint venture with Pryce Gases, Inc., to proceed with its updated Cinco-1 drilling proposal, oil spill contingency plan, and health, safety, and environment plan.

ACEX holds 75% of Palawan55, while Pryce Gases has 25%. The company said it would begin drilling the appraisal well around April 2023, one year before the expiration of the government agency鈥檚 force majeure period on SC 55.

In February, ACEX and parent company AC Energy Corp. (ACEN) amended their deal, changing ACEN鈥檚 ownership percentage to 89.78% from 89.96% of ACEX鈥檚 capital stock.

The transaction, which was executed on Jan. 31, transferred ACEN鈥檚 rights and interests in five energy assets including Palawan55 to the exploration company.

Shares in ACE Enexor at the local bourse slipped P1.95 or 8.5% to close at P21 apiece on Tuesday. 鈥� Marielle C. Lucenio

鈥淭he solar panels will have a combined annual generation capacity of 1.7 million kilowatt hours of clean energy and are expected to reduce Wilcon鈥檚 carbon footprint by 1,222 tons annually. This is equivalent to 2.5 million trees planted,鈥� the companies said in a joint media statement on Tuesday.

Manila Electric Co.鈥檚 (Meralco) solar company, also known as Spectrum, will install solar panels with a combined annual generation capacity of 1.7 million kilowatt-hours of clean energy. The panels are expected to cut Wilcon鈥檚 carbon footprint by 1,222 tons yearly, which is said to be equivalent to planting 2.5 million trees.

The branches that will soon have solar panels on their roof are in: Antipolo, Rizal; General Trias, Cavite; Tayabas, Quezon; Jaro, Iloilo; and Makato, Aklan.

Once fully installed, the project is expected to allow Wilcon to save P5.15 million in power costs every year. Wilcon has already solarized 39 out of its 74 stores nationwide before the partnership with Spectrum.

鈥淲ilcon Depot has partnered with Spectrum in support of our sustainability journey as they speak quality, character, and excellent service in each project. We are thankful to have such an outstanding organization in enabling Wilcon to achieve our sustainability goals,鈥� Wilcon President and Chief Executive Lorraine Belo-Cincochan said, as quoted by Meralco during the ceremonial launch of the solar project held on March 22 in Antipolo City.

Spectrum President and Chief Executive Ferdinand O. Geluz said Wilcon had the foresight in mitigating the impact of unstable fuel prices and low power supply.

鈥淣ot only does [solar power] reduce carbon footprint, it also lessens energy costs which drives operational efficiency,鈥� Mr. Geluz said.

Wilcon reported a 22.8% increase in net income to P692 million in the fourth quarter last year, as the retailer鈥檚 gross profit margin improved with the higher contribution from its in-house brands. For the whole 2021, the company posted a 76.8% income jump to P2.56 billion.

Meralco, on the other hand, posted a 9.5% increase in core net income in the fourth quarter last year to P6.55 billion as energy sales volume surged. For full-year 2021, the power distribution giant reported a consolidated core net income of P24.61 billion, 13.4% higher than in 2020.

Meralco shares at the stocks exchange climbed P10.80 or 3.01% to close at P369.80 each on Tuesday. 鈥� Marielle C. Lucenio

The advisory calls for the mandatory implementation of energy efficiency and conservation (EE&C) programs.

鈥淲e issued this advisory to highlight the role of (EE&C) in ensuring the sufficiency of petroleum products supply amid the Russia-Ukraine crisis,鈥� Energy Secretary Alfonso G. Cusi said.

The DoE also called on agencies to comply with the听guidelines of the Government Energy Management Program (GEMP). GEMP sets a 10% reduction target for government agencies鈥� power and fuel consumption.

The DoE said more efficient energy use will help ensure the smooth running of the May 9 elections.

In January, the DoE raised the possibility of possible rotating outages on the Luzon grid in the two weeks after the elections.

鈥淎ccording to projections of the DoE-Energy Utilization Management Bureau, the successful implementation of these measures (will help) reduce electricity demand on the Luzon grid by up to 24 megawatts,鈥� it said in a statement.

Meanwhile, an alliance of energy efficiency companies said the government must also accelerate deployment of energy efficiency projects from the private sector.

鈥淚t is good that the National Government through DoE believe that energy efficiency and conservation should help mitigate the impacts of rising fuel prices, which affect all end-use sectors directly consuming fuel products, and partially grid and self-use generation of electricity,鈥� Philippine Energy Efficiency Alliance (PE2) President Alexander D. Ablaza said in a Viber message.

He added that 鈥渨hat the country needs right now is to accelerate timelines for energy efficiency deployment.鈥�

鈥�(The government should) kick-start energy service company (ESCO) performance contracting and third-party project investments by reclassifying all EE projects, whether simple, complex or innovative/strategic, as Tier III domestic market activities under the (Strategic Investment Priority Plan) framework,鈥� he said.

In February, the Board of Investments classified strategic energy efficiency (EE) projects as 鈥渃ritical to the structural transformation of the economy,鈥� eligible for the longest income tax holidays on offer. PE2 is calling for the inclusion of non-strategic projects in this category.

PE2 also proposes that authorities听鈥渁ccelerate and aggressively grow GEMP by enabling ESCO performance contracting and third-party project investments in EE projects hosted by government-owned facilities, by removing policy barriers under the Government Procurement and Reform Act, the Build-Operate-Transfer law, and the National Economic and Development Authority鈥檚 joint venture guidelines.鈥� 鈥� Marielle C. Lucenio

FUEL RETAILERS on Tuesday implemented a rollback in the prices of gasoline, diesel and kerosene, ending 11 straight weeks of steadily rising pump prices.

The price of gasoline, diesel, and kerosene products were slashed by P5.45, P11.45, and P8.55 per liter, respectively, as Dubai crude oil prices dropped last week.

This is the first reduction in pump prices this year, but it was not enough to offset the accumulated increase of P20.35 per liter for gasoline, P30.65 for diesel, and P24.90 for kerosene as of last week.

Energy Secretary Alfonso G. Cusi said the rollback is due to the drop in average prices of petroleum products based on the Mean of Platts Singapore (MOPS), the pricing yardstick for many refined products in Southeast Asia, last week.

In a text message, Mr. Cusi said the average price of gasoline was $120 per barrel last week, down from $138 per barrel the previous week. The average price of diesel slipped to $125 per barrel from $157 per barrel previously.

During the Laging Handa press briefing on Monday, Energy Undersecretary Gerardo D. Erguiza, Jr. said crude oil prices fell due to concerns the lockdowns in China would lower demand and the progress in Russia-Ukraine talks.

Despite the decline in fuel prices, Mr. Cusi said the government will increase the P3-billion budget for fuel subsidies to P6.1 billion. 鈥� Marielle C. Lucenio

鈥淔irst Gen generated higher revenues in 2021 as we saw power demand recover to pre-pandemic levels. Unfortunately, revenue growth was also an effect of higher fuel prices experienced all over the world and the supply restrictions in the grid that reflected in high spot market prices,鈥� First Gen President and Chief Operating Officer Francis Giles B. Puno said in a statement.

鈥淥ur gas-fired plants necessarily ran on liquid fuel to ensure adequate supply for the grid. We are working to address gas supply uncertainty and are confident this will be addressed once our LNG (liquefied natural gas) import terminal operates this year,鈥� he added.

The company鈥檚 natural gas platform registered 8% more in recurring earnings last year to P9.7 billion from P9.2 billion in 2020.

鈥淭he older natural gas-fired plants, the 1,000-megawatt (MW) Santa Rita and the 500-MW San Lorenzo [power plants], reaped the benefits of lower income tax rates under the CREATE Law and lower interest expenses from regular debt service payments,鈥� the company said, referring to Republic Act No. 11534.

The benefits, however, were partially offset by lower operating income from the 420-MW San Gabriel power plant caused by outages and higher replacement power, the company said.

First Gen said that while its 97-megawatt Avion power plant 鈥渉ad its share of plant damage issues in 2021, it still benefitted from high electricity sales in the early part of the year as it supplied the grid with supplemental power during constraint periods.鈥�

Meanwhile, Avion plant鈥檚 Unit 2 鈥渨as discovered to have incurred a damage in its gas compressor last August after a routine inspection. The unit was quickly replaced and restored to full commercial operation by late October.鈥�

In December, Avion鈥檚 Unit 1 was found to have incurred damage. It was brought back to operations by February 2022.

鈥淔rom an attributable net income to parent of P9.3 billion in 2020, the natural gas platform increased to P9.8 billion (US$199 million) for 2021,鈥� it detailed.

Energy Development Corp. (EDC), meanwhile, shared a P4 billion recurring attributable earnings generated from its geothermal, wind, and solar assets. This is 8% lower than 2020鈥檚 recurring income of P4.5 billion.

Although EDC had generating higher revenues, it incurred higher power plant and steam field maintenance expenses last year as it made up for deferred activities from 2020.

鈥淭hese were partly offset by lower interest expenses and income taxes. The renewable energy company鈥檚 attributable net income to parent of P4.3 billion for 2021 was also 18% lower due to extraordinary income from the collection of insurance claims in 2020,鈥� it said.

First Gen鈥檚 hydro platform鈥檚 recurring earnings contribution climbed to P180 million in 2021 from P70 million in the previous year.

鈥淭he 132.8-MW Pantabangan-Masiway power plants generated higher revenues as the commencement of its contract with Meralco (Manila Electric Co.) were augmented by merchant sales. The increase was slightly offset by higher expenses due to replacement power costs,鈥� the company said.

The Lopez-led company recorded consolidated revenues of P106 billion from electricity sales, 18% higher than the P91 billion in the previous year. This consists of 60% natural gas revenues; 35% EDC鈥檚 geothermal, wind, and solar revenues; and 5% hydro plant revenues.

First Gen shares at the local bourse dropped a peso or 3.85% to close at P25 apiece on Monday. 鈥� Marielle C. Lucenio

In a disclosure to the exchange, the Ayala-led company said its subsidiary ACE Endevor, Inc. signed on March 18 the agreement for the sale and purchase of the shares in the target companies.

It will pay up to P4.5 billion for the acquisition. The price is still subject to adjustments and agreed conditions. ACE Endevor is intended to be ACEN鈥檚 project development, management, and operations platform.

The companies involved in the transaction are: North Luzon Renewable Energy Corp. (NLR); Bayog Wind Power Corp. (BWPC); Buduan Wind Energy Co, Inc.; Caraballo Mountains UPC Asia Corp.; Pangasinan UPC Asia Corp.; Sapat Highlands Wind Corp.; Mindanao Wind Power Corp.; Itbayat Island UPC Asia Corp.; Laguna Central Renewables, Inc.; Laguna West Renewables, Inc.; Suyo UPC Asia Corp.; and Solar Ace4 Energy Corp.

ACEN will buy out UPC Philippines鈥� 30% share in NLR consisting of 16,670 common shares with a par value of P100 per share and 740 preferred shares with a par value of P228,712.35 per share. It will also take over the 40% ownership interest of UPC Philippines in BWPC, consisting of 4,165 common shares priced at P100 apiece.

鈥淭he acquisition by the company of UPC Philippines鈥� ownership interest in NLR and BWPC will enable the company to have a controlling interest in the currently operating 81-megawatt (MW) wind farm and full ownership of the 160-MW Pagudpud Wind Farm, which is nearing completion, thereby increasing the company鈥檚 share in the revenues of NLR and future revenues of BWPC,鈥� ACEN said in its disclosure.

鈥淭he Company will further have ownership of UPC Philippines development projects consisting of more than 2,300 MW of pipeline projects currently under development,鈥� it added.

ACEN aims to become the biggest listed energy platform in Southeast Asia as plans to put up 5,000 MW of renewable energy (RE) capacity by 2025.

At home, the company is building around 484 MW of wind and solar capacity. Across the region, it has around 3,800 MW of attributable net capacity, of which, renewables account for 87% or 3,300 MW.

In the same disclosure, the renewable energy firm said its board of directors had also approved a separate transaction for the issuance of up to 390 million ACEN common shares to the owners, affiliates, and/or partners of UPC Philippines priced at P11.32 apiece.

ACEN shares at the local bourse slipped 30 centavos or 3.66% to close at P7.90 apiece on Monday. 鈥� Marielle C. Lucenio

Excluding a one-time gain, the listed firm with interest in the energy sector posted a 25% increase in its core income to P1.73 billion, it said in a media release.

鈥淲e鈥檙e proud of what we have accomplished amid the challenges brought by the pandemic. As we see businesses adapt to the changed landscape, we expect a demand for forward-looking, customizable solutions that will help them thrive in the new environment,鈥� said Vivant Chief Executive Officer Arlo Angelo G. Sarmiento said.

Mr. Sarmiento added that government policies during the pandemic helped the company to survive.

Vivant recorded a one-time gain of P44.96 million in 2021 on the back of unrealized foreign exchange gains and its share in the fair value re-measurement of investment properties.

The company鈥檚 power generation business was the major driver of its earnings with a 69% share in the company鈥檚 total income from its business segments after its contribution increased 11% to P1.70 billion.

鈥淭he favorable spot market prices and the fresh contributions of newly acquired generation companies in 2021 led to the enhanced profit performance of the group,鈥� the company said.

Meanwhile, its electricity distribution business contributed P745.57 million, 29% higher than its P579.02 million share in 2020.

鈥淎lthough electricity sales for the year only grew marginally, Vivant鈥檚 improved bottom line performance was driven by reduction in systems loss, reduced tax payments under the Republic Act 11534 or the Corporate Recovery and Tax Incentives for Enterprises, and effective management of doubtful accounts,鈥� the company said.

The retail electricity group鈥檚 share also soared to P64.40 million last year from the P3.93 million in 2020.

The firm said the increase in contribution was due to the expansion in the customer base of wholly owned subsidiary Corenergy, Inc., which now realized the importance of energy engineering solutions in its operations.

Vivant earlier invested in water solutions and saw the commissioning of a combined septage and sewage treatment plant in Puerto Princesa City in Palawan.

鈥淭he plant, a private-public partnership project with the City Government of Palawan, will help rehabilitate the Puerto Princesa Bay,鈥� it said.

Vivant shares at the stock exchange on Monday were unchanged at P14.02 apiece. 鈥� Marielle C. Lucenio

In a media release sent over the weekend, CREC said it would supply solar energy for two years to Toyota Motors Cebu through its retail electricity supplier arm Citicore Energy Solutions, Inc., which is listed under the government鈥檚 Green Energy Option Program (GEOP).

GEOP allows end-users with 100-kilowatt power demand to opt for renewable energy supply from sources accredited by the Energy department.

鈥淭he pace at which renewable energy (RE) becomes so relevant among industry leaders and big energy consumers provides an excellent growth opportunity for the entire Citicore organization. Being one of the highly-integrated RE players in the country, we are in a unique position to take advantage of this surge, which we believe we are making significant inroads into,鈥� said CREC President and Chief Executive Officer Oliver Y. Tan in a statement.

The company declined to disclose the contracted power supply, but said it sees the agreement as 鈥渁 start in the automotive market.鈥�

CREC earlier reported a 250% increase in its customer base from 2016 to 2021, bringing a total of 90 megawatts (MW) of contracted supply, including 5.1 MW of renewable energy supplied to partner facilities such as Tutuban Mall in Manila.

鈥淭his entry into the automotive industry is another testament to CREC鈥檚 capability to deliver reliable supply of energy to any areas and business, while being more always available and accessible to its potential customers,鈥� Mr. Tan said.

CREC has earmarked P70 billion for capital expenditure projects spread in the next five years to add 1,500 MW of renewable energy to its portfolio. This year, it has set aside P3 billion for existing projects. 鈥� Marielle C. Lucenio

鈥淲e will never revive it because it was not even continued in the first place due to several reasons, so we will not revive its operations ever,鈥� Ms. Robredo told the media after the first presidential debate hosted by the Commission on Elections (COMELEC) on Saturday night.

Discussions on the possibility of reopening the decommissioned $2.2-billion BNPP recently emerged after President Rodrigo R. Duterte signed on Feb. 28 an executive order allowing the inclusion of nuclear power into the country鈥檚 energy mix as the government moves to abandon coal.

Ms. Robredo said if she wins in the May 9 elections, she will allow the construction of nuclear power plants that are backed by a thorough safety study.

The vice president, however, stressed that she would push more for renewable energy sources in line with the country鈥檚 commitment to curb carbon emissions from fossil fuels.

鈥淎nd for me, we should be moving towards renewable energy sources already since we have committed to the COP26 that by 2050, we will be carbon neutral,鈥� she said.

COP26 is the 26^th United Nations Climate Change Conference held in Glasgow in October last year wherein the Philippines was one of the 40 countries that endorsed the move to veer away from coal, the dirtiest fossil fuel.

In 2020, the Philippines鈥� power mix consisted of 57% coal, 21% renewable energy, 19% natural gas, and 2% oil-based.

鈥淎dmittedly, nuclear power is cleaner compared with fossil fuel, it is contentious especially because a lot of people are scared for its safety. That鈥檚 our main concern,鈥� Ms. Robredo said.

Attempts to reopen the BNPP during previous administrations to address power supply issues were hampered by safety concerns, specifically its location which is said to be along an active fault line and flawed design on safe disposal of highly radioactive nuclear wastes.

Energy Undersecretary Gerardo D. Erguiza, Jr. earlier said if allowed by the succeeding administration, the country can build a traditional nuclear power plant as early as 2027. Other nuclear power plants with small modular reactors, which are being eyed for off-grid areas, can be built as soon as the regulatory framework is in place.

The late President Corazon C. Aquino ordered the shut down of the BNPP in 1986, two years after it was completed, due to safety and corruption issues during its construction under the administration of the late strongman Ferdinand E. Marcos, Sr.

Mr. Marcos鈥� only son and namesake Ferdinand R. Marcos Jr. is running for president in the coming elections. 鈥� Marielle C. Lucenio

Interested companies may express their intent until March 31, a week before the planned pre-bid conference. The bid submission is on May 4.

The company said it opened the bidding after the Energy department had approved the terms of reference for the procurement.

The contract period will be effective once the notice of award is issued and once approved by the Energy Regulatory Commission. It will run until July 25, 2022.

鈥淔orming part of the 350-MW power requirement that Meralco needs to augment available supply during the summer months, this 180-MW supply is meant to cover for the output of plants that are affected by Malampaya facility鈥檚 continued inability to supply adequate natural gas fuel,鈥� the company said.

In February, Meralco entered into a power supply agreement with San Miguel Corp.鈥檚 South Premiere Power Corp. for the initial 170-MW of peaking power supply, which is now pending approval from the energy regulator.

Earlier, the power distribution firm advised power users to conserve energy especially in dry months, which officially started on Wednesday as per the state weather bureau, wherein demand is higher by 40% historically.

According to grid operator National Grid Corp. of the Philippines, the 2022 forecast peak demand of 12,387 MW for Luzon will take place in the last week of May, higher by 747 MW than the actual 2021 peak of 11,640 MW, which occurred on May 28, 2021.

Meanwhile, demand in the Visayas grid is expected to peak at 2,528 MW, up from the 2,252-MW peak recorded on Dec. 13, 2021, while demand in the Mindanao grid is expected to peak at 2,223 MW, against the 2,144-MW peak on Aug. 4, 2021.

Meralco Vice-President and Head of Utility Economics Lawrence S. Fernandez warned that the impact of soaring pump prices caused by the Russia-Ukraine war will be felt by consumers in May.

鈥淭he past weeks, world crude oil prices are increasing [and] this will eventually be reflected on the cost of Malampaya natural gas and thereafter, on the generation cost,鈥� he said.

For now, he said consumers would not feel the impact as the Malampaya price is being updated quarterly and will next be updated in April, but will be reflected in the May generation charge.

Meralco鈥檚 controlling stakeholder, Beacon Electric Asset Holdings, Inc., is partly owned by PLDT, Inc. Hastings Holdings, Inc., a unit of PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc., has an interest in 大象传媒 through the Philippine Star Group, which it controls.

At the stock exchange, Meralco shares slipped P2 or 0.53% to close at P378 each. 鈥� Marielle C. Lucenio

In a media release posted by the exchange, the Leviste-led company said it was granted by its parent, Solar Philippines Power Project Holdings, Inc., the option to accelerate the development of the project sites and make it construction-ready by end of 2023 so it can increase its capacity.

鈥淲e note the feedback of our public shareholders who want us to accelerate our business plan, ahead of the consummation of the increase in authorized capital stock and share swap. As such, we are preparing SPNEC to accelerate the development of our largest projects, from the proceeds of an earlier filed SRO, given the importance of speed in developing projects to meet the growing demand for solar in the Philippines,鈥� said Solar Philippines founder Leandro Leviste.

Earlier, SPNEC said it targets to complete its asset-for-share deal with its parent company by the middle of this year.

Once executed, SPNEC will have 32,497,400,005 shares, from which, it will issue at least 5,124,832,502 shares to the public through a stock rights offering, private placement, or follow-on offering.

The solar firm earlier said it was planning to raise P10 billion from its SRO in the second quarter of this year.

The company said the move is among the steps it was looking at to reach its goal of creating P15 million per megawatt of value from its 10 GW of solar projects by 2025.

SPNEC shares at the local bourse surged 21 centavos or 13.55% to close P1.76 apiece on Thursday. 鈥� Marielle C. Lucenio

鈥淗ydro projects are challenging to build but despite the pandemic [the company] did it in record time of less than two years,鈥� Taft Hydro Energy President Benjie Q. Picardo said in a statement.

He cited the support of the Department of Energy, Development Bank of the Philippines, electric cooperatives, the local government of Eastern and Western Samar, local communities 鈥渁nd our workers on the ground who went the extra mile so we can complete this project on time and on budget.鈥�

The project uses of the running water in Taft-Tubig river to secure affordable power in the Samar-Leyte area. It consists of three units with 5.9 MW each.

The company earlier said the facility would provide power during the holiday season, as it was initially expected to be turned on by December last year.

The hydropower project is seen to boost the potential of the tuna industry in the area, which is part of the so-called 鈥渢una highway,鈥� as logistics and cold storages were hampered by the lack of power.

鈥淎t the same time, the completion of the project will create a major economic multiplier by the opening of investment opportunities in cold storage, processing plants, and even in tourism,鈥� Mr. Picardo said.

Taft Hydro Energy is a project company under the Filipino-led Magis Energy Holdings Corp. to spur growth specifically in rural communities by developing renewable energy facilities. The 8.6-MW Matuno River Development Corp. in Nueva Vizcaya is also under Magis Energy. 鈥� Marielle C. Lucenio

In a disclosure to the exchange, the power company said the approval will open the secondary market trading of its Series 鈥淒鈥� bonds with a fixed interest rate of 5.3066% per annum maturing in 2027, and the Series 鈥淓鈥� bonds with a fixed interest rate of 5.7388% per annum maturing in 2029.

The firm earlier said the proceeds from the bond offering will be used to refinance current and future renewable energy projects, while it targets to expand its portfolio with 50% renewable energy and 50% thermal energy by 2030.

BDO Capital & Investment Corp., China Bank Capital Corp., and First Metro Investment Corp. are the joint issue managers; while BDO Capital, First Metro, and Security Bank Corp. are the joint lead underwriters and joint bookrunners.

AboitizPower recently reported a consolidated net income of P20.8 billion for 2021, higher by 66% than the earlier year鈥檚 profit, on the back of commissioning revenues and higher dispatch at the wholesale electricity spot market.

For the fourth quarter alone, AboitizPower reported a consolidated net income of P5.2 billion, down 8% year on year.

At the local bourse, the company鈥檚 shares dropped 15 centavos or 0.44% to close P34.15 apiece on Thursday. 鈥� Marielle C. Lucenio