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.\u00a0
\n\u201cThe common definition of cancel culture is that it\u2019s a form of public shaming. Sociologically, it\u2019s society\u2019s way of regulating itself. When we cancel somebody, you\u2019re making a moral judgment,\u201d says Nicole C. Curato, a Professor of Political Sociology at Centre for Deliberative Democracy and Global Governance at the University of Canberra. \u201cThe key to understanding cancel culture is that there\u2019s an element of unmet expectation.\u201d
\nIn this\u00a0B-Side\u00a0episode, Ms. Curato tells former\u00a0大象传媒\u00a0reporter Marielle C. Lucenio what it means to get canceled and whether businesses should risk taking a political stand knowing that they could face backlash.
\nNina 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.
\nRecorded remotely in February 2022. Produced by Earl R. Lagundino and Sam L. Marcelo.
\n", "content_text": "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.\u00a0\n\u201cThe common definition of cancel culture is that it\u2019s a form of public shaming. Sociologically, it\u2019s society\u2019s way of regulating itself. When we cancel somebody, you\u2019re making a moral judgment,\u201d says Nicole C. Curato, a Professor of Political Sociology at Centre for Deliberative Democracy and Global Governance at the University of Canberra. \u201cThe key to understanding cancel culture is that there\u2019s an element of unmet expectation.\u201d\nIn this\u00a0B-Side\u00a0episode, Ms. Curato tells former\u00a0大象传媒\u00a0reporter Marielle C. Lucenio what it means to get canceled and whether businesses should risk taking a political stand knowing that they could face backlash.\nNina 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.\nRecorded remotely in February 2022. Produced by Earl R. Lagundino and Sam L. Marcelo.", "date_published": "2022-04-04T10:06:33+08:00", "date_modified": "2022-04-04T10:07:50+08:00", "authors": [ { "name": "大象传媒", "url": "/author/winseciontainkes/", "avatar": "https://secure.gravatar.com/avatar/5aebc87a76b327f90fc9671dea4220c74092c328c9b13ee03e93a20601e350d3?s=512&d=mm&r=g" } ], "author": { "name": "大象传媒", "url": "/author/winseciontainkes/", "avatar": "https://secure.gravatar.com/avatar/5aebc87a76b327f90fc9671dea4220c74092c328c9b13ee03e93a20601e350d3?s=512&d=mm&r=g" }, "image": "/wp-content/uploads/2022/04/04.04.22-B_Side_CancelCulture_1400x1400.jpg", "tags": [ "B-Side", "cancel culture", "Colourette Cosmetics", "Earl R. Lagundino", "Marielle C. Lucenio", "Nicole C. Curato", "Nina Ellaine Dizon-Cabrera", "Podcast", "Sam L. Marcelo" ] }, { "id": "/?p=439562", "url": "/corporate/2022/04/01/439562/meralco-to-power-pldts-largest-hyperscale-data-center-in-laguna/", "title": "Meralco to power PLDT\u2019s largest hyperscale data center in Laguna", "content_html": "MANILA Electric Co. (Meralco) on Thursday announced the construction of a custom-designed substation to serve PLDT, Inc.\u2019s hyperscale data center in Laguna.
\nIn a media release, Meralco said that aside from providing \u201cresilient and flexible\u201d power to the telecommunications company\u2019s 11th hyperscale data center, the substation will have the capacity to scale up and cater to the growing power demand through additional power banks.
\nThis substation design will ensure service continuity that goes beyond the standard requirements of the TIA-942 Rated 3 coverage, Meralco said.
\n\u201cThe 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,\u201d Meralco Senior Vice-President and Head of Networks Ronnie L. Aperocho said in a statement.
\nMeanwhile, PLDT President and Chief Executive Officer Alfredo S. Panlilio said VITRO Sta. Rosa, the company\u2019s hyperscale data center, is seen to \u201cset the benchmark in infrastructure resilience, operational excellence, global competitiveness, and world-class sustainability.\u201d
\nMeralco President and Chief Executive Officer Ray C. Atienza said the partnership is \u201ctimely\u201d as the power provider has committed to source 1,500 megawatts from clean energy sources in the next five years.
\nVITRO 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.
\nMeralco\u2019s 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.
\nMeralco shares at the local bourse went up P5.40 or 1.47% on Thursday to close at P373.60 apiece. \u2014 Marielle C. Lucenio
\n", "content_text": "MANILA Electric Co. (Meralco) on Thursday announced the construction of a custom-designed substation to serve PLDT, Inc.\u2019s hyperscale data center in Laguna.\nIn a media release, Meralco said that aside from providing \u201cresilient and flexible\u201d power to the telecommunications company\u2019s 11th hyperscale data center, the substation will have the capacity to scale up and cater to the growing power demand through additional power banks.\nThis substation design will ensure service continuity that goes beyond the standard requirements of the TIA-942 Rated 3 coverage, Meralco said.\n\u201cThe 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,\u201d Meralco Senior Vice-President and Head of Networks Ronnie L. Aperocho said in a statement.\nMeanwhile, PLDT President and Chief Executive Officer Alfredo S. Panlilio said VITRO Sta. Rosa, the company\u2019s hyperscale data center, is seen to \u201cset the benchmark in infrastructure resilience, operational excellence, global competitiveness, and world-class sustainability.\u201d\nMeralco President and Chief Executive Officer Ray C. Atienza said the partnership is \u201ctimely\u201d as the power provider has committed to source 1,500 megawatts from clean energy sources in the next five years.\nVITRO 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.\nMeralco\u2019s 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.\nMeralco shares at the local bourse went up P5.40 or 1.47% on Thursday to close at P373.60 apiece. \u2014 Marielle C. Lucenio", "date_published": "2022-04-01T00:03:24+08:00", "date_modified": "2022-03-31T20:28:49+08:00", "authors": [ { "name": "大象传媒", "url": "/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/fc38d2668fdee8f1e2b22df5e72ae6f4ad265ab7814de4aa60060edd377a70ce?s=512&d=mm&r=g" } ], "author": { "name": "大象传媒", "url": "/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/fc38d2668fdee8f1e2b22df5e72ae6f4ad265ab7814de4aa60060edd377a70ce?s=512&d=mm&r=g" }, "image": "/wp-content/uploads/2021/11/meralco-company.meralco.com_.ph_-e1638974239568.jpg", "tags": [ "Marielle C. Lucenio", "Corporate" ], "summary": "MANILA Electric Co. (Meralco) on Thursday announced the construction of a custom-designed substation to serve PLDT, Inc.\u2019s hyperscale data center in Laguna." }, { "id": "/?p=439559", "url": "/corporate/2022/04/01/439559/acen-invests-140m-in-international-subsidiary/", "title": "ACEN invests $140M in international subsidiary", "content_html": "AC ENERGY Corp. (ACEN) subscribed to about 1.402 million redeemable preferred shares of its subsidiary ACEN Renewables International Pte. Ltd. (ACEN International) for $100 apiece for additional direct investment.
\nIn 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.
\nThe 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.
\nOn 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.
\nThe 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.
\nUPC-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.
\nACEN 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.
\nAt 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.
\nAt the stock exchange, ACEN shares on Thursday went up by 20 centavos or 2.34% to close at P8.73 apiece. \u2014 Marielle C. Lucenio
\n", "content_text": "AC ENERGY Corp. (ACEN) subscribed to about 1.402 million redeemable preferred shares of its subsidiary ACEN Renewables International Pte. Ltd. (ACEN International) for $100 apiece for additional direct investment.\nIn 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.\nThe 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.\nOn 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.\nThe 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.\nUPC-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.\nACEN 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.\nAt 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.\nAt the stock exchange, ACEN shares on Thursday went up by 20 centavos or 2.34% to close at P8.73 apiece. \u2014 Marielle C. Lucenio", "date_published": "2022-04-01T00:01:22+08:00", "date_modified": "2022-03-31T20:27:49+08:00", "authors": [ { "name": "大象传媒", "url": "/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/fc38d2668fdee8f1e2b22df5e72ae6f4ad265ab7814de4aa60060edd377a70ce?s=512&d=mm&r=g" } ], "author": { "name": "大象传媒", "url": "/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/fc38d2668fdee8f1e2b22df5e72ae6f4ad265ab7814de4aa60060edd377a70ce?s=512&d=mm&r=g" }, "image": "/wp-content/uploads/2022/01/acen-logo-2022.jpg", "tags": [ "Marielle C. Lucenio", "Corporate" ], "summary": "AC ENERGY Corp. (ACEN) subscribed to about 1.402 million redeemable preferred shares of its subsidiary ACEN Renewables International Pte. Ltd. (ACEN International) for $100 apiece for additional direct investment." }, { "id": "/?p=439547", "url": "/economy/2022/03/31/439547/spot-power-prices-rise-as-quarantine-eases/", "title": "Spot power prices rise as quarantine eases", "content_html": "THE average spot market price on the wholesale electricity spot market rose 12.65% in late March, following to a pickup in demand to levels exceeding forecasts after the loosening of quarantine restrictions, which offset the return to operations of some power generators.
\nRates 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.
\nWhile the supply of power increased by 695 megawatts (MW).
\n\u201cDemand also increased in March by 820 MW or 8.38% higher than the usage in February,\u201d IEMOP Stakeholder Communications Specialist Danyella Santiago said.
\nThe 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.
\n\u201cSo 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,\u201d it said in a statement issued after the briefing.
\nThe March demand peak was higher than demand in the same month before the pandemic.
\nDemand typically rises about 40% in the dry season, peaking in May.
\nThe 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.
\nMeanwhile, 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.
\nAsked about the suspension of secondary price caps, IEMOP Chief Operating Officer Robinson P. Descanzo said the market is waiting for an order from the\u00a0Energy Regulatory Commission (ERC).
\n\u201cUntil now, we don\u2019t 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,\u201d he said.
\nDue 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 \u201cprotect the public and prevent the repetition of excessive and unreasonable high market prices.\u201d
\nMr. 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. \u2014 Marielle C. Lucenio
\n", "content_text": "THE average spot market price on the wholesale electricity spot market rose 12.65% in late March, following to a pickup in demand to levels exceeding forecasts after the loosening of quarantine restrictions, which offset the return to operations of some power generators.\nRates 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.\nWhile the supply of power increased by 695 megawatts (MW).\n\u201cDemand also increased in March by 820 MW or 8.38% higher than the usage in February,\u201d IEMOP Stakeholder Communications Specialist Danyella Santiago said.\nThe 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.\n\u201cSo 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,\u201d it said in a statement issued after the briefing.\nThe March demand peak was higher than demand in the same month before the pandemic.\nDemand typically rises about 40% in the dry season, peaking in May.\nThe 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.\nMeanwhile, 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.\nAsked about the suspension of secondary price caps, IEMOP Chief Operating Officer Robinson P. Descanzo said the market is waiting for an order from the\u00a0Energy Regulatory Commission (ERC).\n\u201cUntil now, we don\u2019t 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,\u201d he said.\nDue 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 \u201cprotect the public and prevent the repetition of excessive and unreasonable high market prices.\u201d\nMr. 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. \u2014 Marielle C. Lucenio", "date_published": "2022-03-31T20:19:05+08:00", "date_modified": "2022-03-31T20:19:05+08:00", "authors": [ { "name": "大象传媒", "url": "/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/fc38d2668fdee8f1e2b22df5e72ae6f4ad265ab7814de4aa60060edd377a70ce?s=512&d=mm&r=g" } ], "author": { "name": "大象传媒", "url": "/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/fc38d2668fdee8f1e2b22df5e72ae6f4ad265ab7814de4aa60060edd377a70ce?s=512&d=mm&r=g" }, "image": "/wp-content/uploads/2022/02/WESM.jpg", "tags": [ "Featured2", "Marielle C. Lucenio", "Economy", "Editors' Picks" ], "summary": "THE average spot market price on the wholesale electricity spot market rose 12.65% in late March, following to a pickup in demand to levels exceeding forecasts after the loosening of quarantine restrictions, which offset the return to operations of some power generators." }, { "id": "/?p=439293", "url": "/corporate/2022/03/31/439293/aboitizpower-ifc-study-re-for-baseload-power/", "title": "AboitizPower, IFC study RE for baseload power", "content_html": "ABOITIZ Power Corp. on Wednesday said it had partnered with International Finance Corp. (IFC) to study the potential of renewable energy (RE) to generate baseload power for a \u201cmore reasonably priced\u201d electricity.
\n\u201cWe eagerly look forward to learning about how we can generate baseload power that is technically and financially feasible and also scalable,\u201d AboitizPower President and Chief Executive Officer Emmanuel V. Rubio said in a statement.
\nAside 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.
\nMr. Rubio said AboitizPower expects the study to be \u201cbespoke\u201d based on the country\u2019s national resources, climate, and geography so it will fit the energy system.
\nMeanwhile, IFC Regional Vice-President for Asia and the Pacific Alfonso Garcia Mora said the company is \u201cconfident that renewables will offer a viable path\u201d for the country.
\n\u201cHarnessing 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,\u201d Mr. Garcia Mora added.
\nIFC, 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.
\nThe Aboitiz group\u2019s 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.
\n\u201cTo 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,\u201d Mr. Rubio said.
\nAt the stock exchange, shares in AboitizPower went up by 75 centavos or 2.15% to close at P35.70 apiece on Wednesday. \u2014 Marielle C. Lucenio
\n", "content_text": "ABOITIZ Power Corp. on Wednesday said it had partnered with International Finance Corp. (IFC) to study the potential of renewable energy (RE) to generate baseload power for a \u201cmore reasonably priced\u201d electricity.\n\u201cWe eagerly look forward to learning about how we can generate baseload power that is technically and financially feasible and also scalable,\u201d AboitizPower President and Chief Executive Officer Emmanuel V. Rubio said in a statement.\nAside 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.\nMr. Rubio said AboitizPower expects the study to be \u201cbespoke\u201d based on the country\u2019s national resources, climate, and geography so it will fit the energy system.\nMeanwhile, IFC Regional Vice-President for Asia and the Pacific Alfonso Garcia Mora said the company is \u201cconfident that renewables will offer a viable path\u201d for the country.\n\u201cHarnessing 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,\u201d Mr. Garcia Mora added.\nIFC, 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.\nThe Aboitiz group\u2019s 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.\n\u201cTo 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,\u201d Mr. Rubio said.\nAt the stock exchange, shares in AboitizPower went up by 75 centavos or 2.15% to close at P35.70 apiece on Wednesday. \u2014 Marielle C. Lucenio", "date_published": "2022-03-31T00:04:16+08:00", "date_modified": "2022-03-30T20:39:36+08:00", "authors": [ { "name": "大象传媒", "url": "/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/fc38d2668fdee8f1e2b22df5e72ae6f4ad265ab7814de4aa60060edd377a70ce?s=512&d=mm&r=g" } ], "author": { "name": "大象传媒", "url": "/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/fc38d2668fdee8f1e2b22df5e72ae6f4ad265ab7814de4aa60060edd377a70ce?s=512&d=mm&r=g" }, "image": "/wp-content/uploads/2021/08/Aboitiz-Power-logo-720p-web.jpg", "tags": [ "Marielle C. Lucenio", "Corporate" ], "summary": "ABOITIZ Power Corp. on Wednesday said it had partnered with International Finance Corp. (IFC) to study the potential of renewable energy (RE) to generate baseload power for a \u201cmore reasonably priced\u201d electricity." }, { "id": "/?p=439229", "url": "/economy/2022/03/30/439229/govt-must-manage-demand-to-ensure-adequate-power-for-may-polls-think-tank/", "title": "Gov\u2019t must manage demand to ensure adequate power for May polls \u2014 think tank", "content_html": "THE Institute for Climate and Sustainable Cities (ICSC) said the possibility of blackouts during election season should spur the government into undertaking demand-side management activities to ensure power supply and avoid questions about the credibility of the May elections.
\nAt a virtual briefing on Wednesday, ICSC\u00a0Energy Transition Advisor\u00a0Alberto\u00a0R.\u00a0Dalusung\u00a0III called on the government to start preparing the market for demand-side management measures as such a course of action is \u201cthe quickest to implement\u201d among the realistic options, such as requiring solar rooftops and encouraging industrial firms with their own generating facilities from drawing power from the gird.
\n\u201cThe 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,\u201d he said.
\n\u201cIt\u2019s 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\u2026 the proper choices (can help ensure more power supply),\u201d he added.
\nOn 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.
\n\u201cFrom the National Grid Corp. of the Philippines\u2019 (NGCP) official power outlook, the thin operating reserves will start on the third week of April until the last week of May,\u201d\u00a0ICSC Chief Data Scientist\u00a0Jephraim C. Manansala said during a virtual briefing.
\nMr. 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.
\n\u201cBlackouts will only occur if the operating reserves are depleted below the grid requirements,\u201d he added, noting that two coal-fired power plants with a total combined capacity of 423 megawatts (MW) are currently shut down.
\nOver the weekend, the grid operator placed the Luzon grid on yellow alert, signifying thinning power reserves, after seven power plants suffered forced outages.
\nNazrin Camille D. Castro, manager of nonprofit organization The Climate Reality Project, said \u201cunreliable electricity supply will undermine the credibility of the elections.\u201d
\n\u201cWe 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,\u201d Ms. Castro said.
\nMs. Castro noted that household consumers have the highest share of total energy consumption at 31%.
\n\u201cIf all consumers would chip in and practice energy efficiency during these peak hours, I think it would be a big help during these seasons,\u201d she said.
\nMr. Dalusung said that urging the consumers to manage their usage \u201ccan\u2019t be done unless there are cues from the government that it has to be done to ensure credibility in our elections.\u201d
\nLast week, the DoE issued\u00a0an advisory to government agencies to conserve energy as fuel prices rose, to ensure adequate supply during the May elections.
\nThe 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.
\nThe savings included 35.26 MW in Luzon, 15.3 MW in Mindanao, and 14.76 MW in the Visayas, the DoE said.
\n\u201cWe hope to sustain this reduction\u00a0through consistent energy efficiency and conservation practices. The first step is to be mindful of our energy consumption habits, especially during periods of high\u00a0demand such as this summer,\u201d Energy Secretary Alfonso G. Cusi said previously in a statement. \u2014 Marielle C. Lucenio
\n", "content_text": "THE Institute for Climate and Sustainable Cities (ICSC) said the possibility of blackouts during election season should spur the government into undertaking demand-side management activities to ensure power supply and avoid questions about the credibility of the May elections.\nAt a virtual briefing on Wednesday, ICSC\u00a0Energy Transition Advisor\u00a0Alberto\u00a0R.\u00a0Dalusung\u00a0III called on the government to start preparing the market for demand-side management measures as such a course of action is \u201cthe quickest to implement\u201d among the realistic options, such as requiring solar rooftops and encouraging industrial firms with their own generating facilities from drawing power from the gird.\n\u201cThe 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,\u201d he said.\n\u201cIt\u2019s 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\u2026 the proper choices (can help ensure more power supply),\u201d he added.\nOn 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.\n\u201cFrom the National Grid Corp. of the Philippines\u2019 (NGCP) official power outlook, the thin operating reserves will start on the third week of April until the last week of May,\u201d\u00a0ICSC Chief Data Scientist\u00a0Jephraim C. Manansala said during a virtual briefing.\nMr. 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.\n\u201cBlackouts will only occur if the operating reserves are depleted below the grid requirements,\u201d he added, noting that two coal-fired power plants with a total combined capacity of 423 megawatts (MW) are currently shut down.\nOver the weekend, the grid operator placed the Luzon grid on yellow alert, signifying thinning power reserves, after seven power plants suffered forced outages.\nNazrin Camille D. Castro, manager of nonprofit organization The Climate Reality Project, said \u201cunreliable electricity supply will undermine the credibility of the elections.\u201d\n\u201cWe 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,\u201d Ms. Castro said.\nMs. Castro noted that household consumers have the highest share of total energy consumption at 31%.\n\u201cIf all consumers would chip in and practice energy efficiency during these peak hours, I think it would be a big help during these seasons,\u201d she said.\nMr. Dalusung said that urging the consumers to manage their usage \u201ccan\u2019t be done unless there are cues from the government that it has to be done to ensure credibility in our elections.\u201d\nLast week, the DoE issued\u00a0an advisory to government agencies to conserve energy as fuel prices rose, to ensure adequate supply during the May elections.\nThe 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.\nThe savings included 35.26 MW in Luzon, 15.3 MW in Mindanao, and 14.76 MW in the Visayas, the DoE said.\n\u201cWe hope to sustain this reduction\u00a0through consistent energy efficiency and conservation practices. The first step is to be mindful of our energy consumption habits, especially during periods of high\u00a0demand such as this summer,\u201d Energy Secretary Alfonso G. Cusi said previously in a statement. \u2014 Marielle C. Lucenio", "date_published": "2022-03-30T19:37:24+08:00", "date_modified": "2022-03-30T19:37:24+08:00", "authors": [ { "name": "大象传媒", "url": "/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/fc38d2668fdee8f1e2b22df5e72ae6f4ad265ab7814de4aa60060edd377a70ce?s=512&d=mm&r=g" } ], "author": { "name": "大象传媒", "url": "/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/fc38d2668fdee8f1e2b22df5e72ae6f4ad265ab7814de4aa60060edd377a70ce?s=512&d=mm&r=g" }, "image": "/wp-content/uploads/2021/09/Electric-pylon-Transmission-lines-bukidnon02-20151112-BWFILE-LSDavalJr.jpg", "tags": [ "Featured2", "Marielle C. Lucenio", "Economy", "Editors' Picks" ], "summary": "THE Institute for Climate and Sustainable Cities (ICSC) said the possibility of blackouts during election season should spur the government into undertaking demand-side management activities to ensure power supply and avoid questions about the credibility of the May elections." }, { "id": "/?p=438983", "url": "/corporate/2022/03/30/438983/mptc-buys-stake-in-modern-jeepney-platform-byahe/", "title": "MPTC buys stake in modern jeepney platform Byahe", "content_html": "METRO Pacific Tollways Corp. (MPTC), through its subsidiary MPT Mobility Corp., will buy a \u201csignificant\u201d minority stake in jeepney modernization platform On-Us Solutions, Inc. or Byahe, the Pangilinan-led company said on Tuesday.
\nMPTC said in a statement that it had signed a \u201cdefinitive agreement\u201d on Monday to purchase the stake in Byahe, which is in line with its move into mobility solutions and its focus on sustainability.
\n\u201cAs 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\u2019 jeepney transportation ecosystem,\u201d the company said.
\nByahe 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.
\nThe 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\u2019s capital infusion.
\nMPTC\u2019s 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.
\n\u201cWe 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\u2019re excited to support them on this clean, green journey\u201d MPTC President and Chief Executive Officer Rodrigo E. Franco said in a statement.
\nByahe Chief Executive Laurence Bahia said the company is \u201chere to modernize, not only the carriers, but also the operations with fleet management solutions that will standardize the service.\u201d
\nByahe is a modernized jeepney operator that is set up in line with the government\u2019s 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. \u2014 Marielle C. Lucenio
\n", "content_text": "METRO Pacific Tollways Corp. (MPTC), through its subsidiary MPT Mobility Corp., will buy a \u201csignificant\u201d minority stake in jeepney modernization platform On-Us Solutions, Inc. or Byahe, the Pangilinan-led company said on Tuesday.\nMPTC said in a statement that it had signed a \u201cdefinitive agreement\u201d on Monday to purchase the stake in Byahe, which is in line with its move into mobility solutions and its focus on sustainability.\n\u201cAs 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\u2019 jeepney transportation ecosystem,\u201d the company said.\nByahe 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.\nThe 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\u2019s capital infusion.\nMPTC\u2019s 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.\n\u201cWe 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\u2019re excited to support them on this clean, green journey\u201d MPTC President and Chief Executive Officer Rodrigo E. Franco said in a statement.\nByahe Chief Executive Laurence Bahia said the company is \u201chere to modernize, not only the carriers, but also the operations with fleet management solutions that will standardize the service.\u201d\nByahe is a modernized jeepney operator that is set up in line with the government\u2019s 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. \u2014 Marielle C. Lucenio", "date_published": "2022-03-30T00:01:43+08:00", "date_modified": "2022-03-29T20:23:11+08:00", "authors": [ { "name": "大象传媒", "url": "/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/fc38d2668fdee8f1e2b22df5e72ae6f4ad265ab7814de4aa60060edd377a70ce?s=512&d=mm&r=g" } ], "author": { "name": "大象传媒", "url": "/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/fc38d2668fdee8f1e2b22df5e72ae6f4ad265ab7814de4aa60060edd377a70ce?s=512&d=mm&r=g" }, "image": "/wp-content/uploads/2022/03/Byahe-MPTC-PIC.jpg", "tags": [ "Marielle C. Lucenio", "Corporate" ], "summary": "METRO Pacific Tollways Corp. (MPTC), through its subsidiary MPT Mobility Corp., will buy a \u201csignificant\u201d minority stake in jeepney modernization platform On-Us Solutions, Inc. or Byahe, the Pangilinan-led company said on Tuesday." }, { "id": "/?p=438965", "url": "/economy/2022/03/29/438965/transition-to-renewables-seen-accelerating-in-response-to-high-price-of-imported-fuel/", "title": "Transition to renewables seen accelerating in response to high price of imported fuel", "content_html": "VOLATILE fuel prices in the wake of the Russian invasion of Ukraine will hasten the transition to renewable energy, industry representatives and analysts told 大象传媒.
\n\u201cOil 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 \u2014 in some cases over P100 per kilowatt-hour \u2014 is subsidized by the average Filipino consumer as well, which does contribute to our high electricity prices,\u201d\u00a0Verne Energy Solutions Chief Executive Johnny A. Altomonte said\u00a0via chat message.
\nSPUG is a unit of the National Power Corp. that oversees the provision of power to remote, off-grid communities.
\nThe 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.
\n\u201cIn 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,\u201d Meralco Vice-President and Head of Utility Economics Larry S. Fernandez said during a March 10 briefing.
\n\u201cFor now, we won\u2019t feel it as Malampaya prices are being updated quarterly, and will next be updated in April, to be reflected in the May generation charge.\u201d
\nLawyer and energy and environmental policy expert Antonio M. La Vi\u00f1a said the spike in fuel prices will accelerate clean-energy adoption as conventional fuel products and power generated from fossil fuels become unaffordable.
\nIn 2020, the Philippines\u2019 power generation mix was 57% from coal-fired facilities, 21% from renewable energy, 19% from natural gas, and 2% from oil.
\nATN 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.
\n\u201cATN Solar will accelerate its renewable energy adoption through its \u2018alignment with the low-carbon economy transformation blueprint\u2019 for timely energy conservation and energy efficiency at a time when commodities are at an all-time high,\u201d the company said in a disclosure to the exchange last week.
\nLast week, MSpectrum, Inc.\u2019s President and Chief Executive Ferdinand O. Geluz noted that hardware chain Wilcon Depot, Inc. has started switching to solar power at its branches.
\nSo 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.
\n\u201cNot only does (solar power) reduce (the company\u2019s) carbon footprint, it also reduces energy costs, which drives operational efficiencies,\u201d Mr. Geluz said on March 22.
\nAyala Group\u2019s listed energy unit AC Energy Corp. has said that it has registered its first batch of customers participating in the government\u2019s Green Energy Option Program (GEOP).
\n\u201cRenewables are even more sensible at this time when fossil fuel prices are skyrocketing and to preserve our planet for the next generation,\u201d ACEN Executive Director and Head of Commercial Operations Roman Miguel G. De Jesus said in a statement.
\nGEOP 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.
\nThe government has set a target of a 35% renewable energy share in the power mix by 2030.
\nCenter for Energy, Ecology, and Development Executive Director Gerry C. Arances said that the government needs to ensure the transition happens promptly, including providing financing.
\n\u201cThe\u00a0government 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\u2019 merchant solar financing facility,\u201d Mr. Arances said in a Viber message on Monday.
\n\u00a0He also said that the government, including local government units, must also ensure the adoption of solar power in all its government buildings.
\n\u201cRidiculously high oil prices today can definitely be a turning point for renewables\u2026 Dependence on dirty energy (highlights the vulnerability of) a country relying on fossil fuels\u2026 to global shocks,\u201d he said.
\n\u201cA 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,\u201d he added.
\nSince 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.
\nDoE Oil Industry Management Bureau Director Rino E. Abad said on Monday that fuel prices \u201cwill continue to be volatile in the next weeks.\u201d
\n\u201cPrices 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,\u201d he said via Viber on Monday. \u2014 Marielle C. Lucenio
\n", "content_text": "VOLATILE fuel prices in the wake of the Russian invasion of Ukraine will hasten the transition to renewable energy, industry representatives and analysts told 大象传媒.\n\u201cOil 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 \u2014 in some cases over P100 per kilowatt-hour \u2014 is subsidized by the average Filipino consumer as well, which does contribute to our high electricity prices,\u201d\u00a0Verne Energy Solutions Chief Executive Johnny A. Altomonte said\u00a0via chat message.\nSPUG is a unit of the National Power Corp. that oversees the provision of power to remote, off-grid communities.\nThe 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.\n\u201cIn 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,\u201d Meralco Vice-President and Head of Utility Economics Larry S. Fernandez said during a March 10 briefing.\n\u201cFor now, we won\u2019t feel it as Malampaya prices are being updated quarterly, and will next be updated in April, to be reflected in the May generation charge.\u201d\nLawyer and energy and environmental policy expert Antonio M. La Vi\u00f1a said the spike in fuel prices will accelerate clean-energy adoption as conventional fuel products and power generated from fossil fuels become unaffordable.\nIn 2020, the Philippines\u2019 power generation mix was 57% from coal-fired facilities, 21% from renewable energy, 19% from natural gas, and 2% from oil.\nATN 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.\n\u201cATN Solar will accelerate its renewable energy adoption through its \u2018alignment with the low-carbon economy transformation blueprint\u2019 for timely energy conservation and energy efficiency at a time when commodities are at an all-time high,\u201d the company said in a disclosure to the exchange last week.\nLast week, MSpectrum, Inc.\u2019s President and Chief Executive Ferdinand O. Geluz noted that hardware chain Wilcon Depot, Inc. has started switching to solar power at its branches.\nSo 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.\n\u201cNot only does (solar power) reduce (the company\u2019s) carbon footprint, it also reduces energy costs, which drives operational efficiencies,\u201d Mr. Geluz said on March 22.\nAyala Group\u2019s listed energy unit AC Energy Corp. has said that it has registered its first batch of customers participating in the government\u2019s Green Energy Option Program (GEOP).\n\u201cRenewables are even more sensible at this time when fossil fuel prices are skyrocketing and to preserve our planet for the next generation,\u201d ACEN Executive Director and Head of Commercial Operations Roman Miguel G. De Jesus said in a statement.\nGEOP 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.\nThe government has set a target of a 35% renewable energy share in the power mix by 2030.\nCenter for Energy, Ecology, and Development Executive Director Gerry C. Arances said that the government needs to ensure the transition happens promptly, including providing financing.\n\u201cThe\u00a0government 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\u2019 merchant solar financing facility,\u201d Mr. Arances said in a Viber message on Monday.\n\u00a0He also said that the government, including local government units, must also ensure the adoption of solar power in all its government buildings.\n\u201cRidiculously high oil prices today can definitely be a turning point for renewables\u2026 Dependence on dirty energy (highlights the vulnerability of) a country relying on fossil fuels\u2026 to global shocks,\u201d he said.\n\u201cA 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,\u201d he added.\nSince 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.\nDoE Oil Industry Management Bureau Director Rino E. Abad said on Monday that fuel prices \u201cwill continue to be volatile in the next weeks.\u201d\n\u201cPrices 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,\u201d he said via Viber on Monday. \u2014 Marielle C. Lucenio", "date_published": "2022-03-29T20:15:14+08:00", "date_modified": "2022-03-29T20:15:14+08:00", "authors": [ { "name": "大象传媒", "url": "/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/fc38d2668fdee8f1e2b22df5e72ae6f4ad265ab7814de4aa60060edd377a70ce?s=512&d=mm&r=g" } ], "author": { "name": "大象传媒", "url": "/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/fc38d2668fdee8f1e2b22df5e72ae6f4ad265ab7814de4aa60060edd377a70ce?s=512&d=mm&r=g" }, "image": "/wp-content/uploads/2021/10/wind-farm.jpg", "tags": [ "Marielle C. Lucenio", "Economy" ], "summary": "VOLATILE fuel prices in the wake of the Russian invasion of Ukraine will hasten the transition to renewable energy, industry representatives and analysts told 大象传媒." }, { "id": "/?p=438716", "url": "/corporate/2022/03/29/438716/acen-cleantech-to-build-133-mw-cagayan-solar-plant/", "title": "ACEN, CleanTech to build 133-MW Cagayan solar plant", "content_html": "AC ENERGY Corp. (ACEN) on Monday announced it had finalized forming a joint venture company with its subsidiary ACE Endevor, Inc. and CleanTech Renewable Energy 4 Corp. to build a 133-megawatt (MW) solar project.
\nThe 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.
\nNaredco 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.
\n\u201cWe are delighted to be working with CleanTech to help accelerate our country\u2019s shift to a low carbon economy and add more renewables capacity to our existing 3,300 MW,\u201d said ACEN Chief Development Officer Jose Maria P. Zabaleta in a statement.
\nIn December, ACEN and ACE Endevor bought the 60% stake in Naredco, leaving CleanTech with a 40% stake in the renewable energy development company.
\n\u201cThere is much work to be done, but step by step and together with our partners, we will lead the way towards a sustainable future,\u201d Salvador Antonio R. Castro, Jr., president and chief executive officer of CleanTech.
\nThe 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.
\nACEN 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.
\nIn 2021, along with the Ayala group, it also committed to achieve net zero \u2014 the balance between the greenhouse gas it produces and what it removes \u2014 by 2050.
\nShares in ACEN at the local bourse went up by 8 centavos or 0.96% to close at P8.38 apiece on Monday. \u2014 Marielle C. Lucenio
\n", "content_text": "AC ENERGY Corp. (ACEN) on Monday announced it had finalized forming a joint venture company with its subsidiary ACE Endevor, Inc. and CleanTech Renewable Energy 4 Corp. to build a 133-megawatt (MW) solar project.\nThe 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.\nNaredco 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.\n\u201cWe are delighted to be working with CleanTech to help accelerate our country\u2019s shift to a low carbon economy and add more renewables capacity to our existing 3,300 MW,\u201d said ACEN Chief Development Officer Jose Maria P. Zabaleta in a statement.\nIn December, ACEN and ACE Endevor bought the 60% stake in Naredco, leaving CleanTech with a 40% stake in the renewable energy development company.\n\u201cThere is much work to be done, but step by step and together with our partners, we will lead the way towards a sustainable future,\u201d Salvador Antonio R. Castro, Jr., president and chief executive officer of CleanTech.\nThe 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.\nACEN 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.\nIn 2021, along with the Ayala group, it also committed to achieve net zero \u2014 the balance between the greenhouse gas it produces and what it removes \u2014 by 2050.\nShares in ACEN at the local bourse went up by 8 centavos or 0.96% to close at P8.38 apiece on Monday. \u2014 Marielle C. Lucenio", "date_published": "2022-03-29T00:06:24+08:00", "date_modified": "2022-03-28T20:38:51+08:00", "authors": [ { "name": "大象传媒", "url": "/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/fc38d2668fdee8f1e2b22df5e72ae6f4ad265ab7814de4aa60060edd377a70ce?s=512&d=mm&r=g" } ], "author": { "name": "大象传媒", "url": "/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/fc38d2668fdee8f1e2b22df5e72ae6f4ad265ab7814de4aa60060edd377a70ce?s=512&d=mm&r=g" }, "image": "/wp-content/uploads/2022/01/acen-logo-2022.jpg", "tags": [ "Featured2", "Marielle C. Lucenio", "Corporate", "Editors' Picks" ], "summary": "AC ENERGY Corp. (ACEN) on Monday announced it had finalized forming a joint venture company with its subsidiary ACE Endevor, Inc. and CleanTech Renewable Energy 4 Corp. to build a 133-megawatt (MW) solar project." }, { "id": "/?p=438715", "url": "/corporate/2022/03/29/438715/pilipinas-shell-swings-to-profit-with-nearly-p4-billion-net-income/", "title": "Pilipinas Shell swings to profit with nearly P4-billion net income", "content_html": "PILIPINAS Shell Petroleum Corp. on Monday announced that its net income for 2021 jumped to P3.85 billion, bouncing back from its P16.18-billion loss in the previous year, on the back of \u201csustained network growth.\u201d
\nIn 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\u2019s P300 million.
\nIt also maintained a P1.8-billion operational cash flow as it continues \u201cto sustain proactive management of costs, working capital and cash inflows.\u201d
\n\u201cOur strategy of powering progress for the Philippines is working, despite the challenges brought by an unprecedented global health crisis and the lockdowns it triggered,\u201d Pilipinas Shell President and Chief Executive Officer Lorelie Quiambao-Osial said in a statement.
\n\u201cIt has enabled us to remain agile and resilient throughout the challenging period, placing us in a good position for today\u2019s recovery. We remain firm in our commitment to serve the public who are rediscovering the joys of mobility,\u201d she added.
\nPilipinas 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.
\nIn a separate disclosure, the firm said it recorded a 12.9% increase in net sales to P17.72 billion from 2020\u2019s P15.7 billion.
\nIn 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.
\nMs. Quiambao-Osial said she hopes that \u201cmarketing volumes continue to improve as more people get fully vaccinated, feel safer and get back on the road.\u201d
\nIn September 2021, Pilipinas Shell opened its first \u201cSite of the Future\u201d in Silang, Cavite, a mobile station that provides fuel and other products and services. It was followed by 42 other new stations.
\nThe 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.
\nA double-digit growth across its NFR segment \u2014 including 187 Shell Select stores; 224 Select Express stores; 75 Deli2Go kiosks; 455 lube bays; and 370 Shell Helix centers \u2014 was recorded as its profitability reached pre-pandemic levels.
\nAt the local bourse, shares in the oil company on Monday went up by 30 centavos or 1.69% to close P18 apiece. \u2014 Marielle C. Lucenio
\n", "content_text": "PILIPINAS Shell Petroleum Corp. on Monday announced that its net income for 2021 jumped to P3.85 billion, bouncing back from its P16.18-billion loss in the previous year, on the back of \u201csustained network growth.\u201d\nIn 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\u2019s P300 million.\nIt also maintained a P1.8-billion operational cash flow as it continues \u201cto sustain proactive management of costs, working capital and cash inflows.\u201d\n\u201cOur strategy of powering progress for the Philippines is working, despite the challenges brought by an unprecedented global health crisis and the lockdowns it triggered,\u201d Pilipinas Shell President and Chief Executive Officer Lorelie Quiambao-Osial said in a statement.\n\u201cIt has enabled us to remain agile and resilient throughout the challenging period, placing us in a good position for today\u2019s recovery. We remain firm in our commitment to serve the public who are rediscovering the joys of mobility,\u201d she added.\nPilipinas 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.\nIn a separate disclosure, the firm said it recorded a 12.9% increase in net sales to P17.72 billion from 2020\u2019s P15.7 billion.\nIn 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.\nMs. Quiambao-Osial said she hopes that \u201cmarketing volumes continue to improve as more people get fully vaccinated, feel safer and get back on the road.\u201d\nIn September 2021, Pilipinas Shell opened its first \u201cSite of the Future\u201d in Silang, Cavite, a mobile station that provides fuel and other products and services. It was followed by 42 other new stations.\nThe 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.\nA double-digit growth across its NFR segment \u2014 including 187 Shell Select stores; 224 Select Express stores; 75 Deli2Go kiosks; 455 lube bays; and 370 Shell Helix centers \u2014 was recorded as its profitability reached pre-pandemic levels.\nAt the local bourse, shares in the oil company on Monday went up by 30 centavos or 1.69% to close P18 apiece. \u2014 Marielle C. Lucenio", "date_published": "2022-03-29T00:05:23+08:00", "date_modified": "2022-03-28T20:38:24+08:00", "authors": [ { "name": "大象传媒", "url": "/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/fc38d2668fdee8f1e2b22df5e72ae6f4ad265ab7814de4aa60060edd377a70ce?s=512&d=mm&r=g" } ], "author": { "name": "大象传媒", "url": "/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/fc38d2668fdee8f1e2b22df5e72ae6f4ad265ab7814de4aa60060edd377a70ce?s=512&d=mm&r=g" }, "image": "/wp-content/uploads/2021/12/Shell.jpg", "tags": [ "Marielle C. Lucenio", "Corporate" ], "summary": "PILIPINAS Shell Petroleum Corp. on Monday announced that its net income for 2021 jumped to P3.85 billion, bouncing back from its P16.18-billion loss in the previous year, on the back of \u201csustained network growth.\u201d" }, { "id": "/?p=438453", "url": "/the-nation/2022/03/27/438453/4-electric-cooperatives-penalized-for-failure-to-submit-required-report/", "title": "4 electric cooperatives penalized for failure to submit required report", "content_html": "THE ENERGY Regulatory Commission (ERC) ordered four electric cooperatives to pay a combined P2.5 million in administrative penalties for failing to submit required monthly reports that serve as basis for regulating charges that are passed on to consumers.\u00a0\u00a0\u00a0
\nThose 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).\u00a0\u00a0
\nERC 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\u2019s invoice, transmission invoice, consumer bills, and debit/credit memorandum monthly.\u00a0
\nERC 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.\u00a0\u00a0
\nHowever, the regulatory body said, such leniency cannot be extended to those \u201cthat have incomplete submissions or those that did not submit consolidated annual report for each year.\u201d\u00a0\u00a0
\nNordeco, 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.\u00a0
\n\u201cContinued failure to comply with the URR (uniform reportorial requirements) will merit the imposition of harsher penalties as provided under the commission\u2019s rules,\u201d the ERC said in its decisions. \u2014 Marielle C. Lucenio\u00a0
\n", "content_text": "THE ENERGY Regulatory Commission (ERC) ordered four electric cooperatives to pay a combined P2.5 million in administrative penalties for failing to submit required monthly reports that serve as basis for regulating charges that are passed on to consumers.\u00a0\u00a0\u00a0\nThose 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).\u00a0\u00a0\nERC 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\u2019s invoice, transmission invoice, consumer bills, and debit/credit memorandum monthly.\u00a0\nERC 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.\u00a0\u00a0\nHowever, the regulatory body said, such leniency cannot be extended to those \u201cthat have incomplete submissions or those that did not submit consolidated annual report for each year.\u201d\u00a0\u00a0\nNordeco, 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.\u00a0\n\u201cContinued failure to comply with the URR (uniform reportorial requirements) will merit the imposition of harsher penalties as provided under the commission\u2019s rules,\u201d the ERC said in its decisions. \u2014 Marielle C. Lucenio\u00a0", "date_published": "2022-03-27T19:38:10+08:00", "date_modified": "2022-03-27T19:38:10+08:00", "authors": [ { "name": "大象传媒", "url": "/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/fc38d2668fdee8f1e2b22df5e72ae6f4ad265ab7814de4aa60060edd377a70ce?s=512&d=mm&r=g" } ], "author": { "name": "大象传媒", "url": "/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/fc38d2668fdee8f1e2b22df5e72ae6f4ad265ab7814de4aa60060edd377a70ce?s=512&d=mm&r=g" }, "image": "/wp-content/uploads/2022/03/Powerlines-Bukidnon-Mindanao-BWfile.jpg", "tags": [ "Marielle C. Lucenio", "The Nation" ], "summary": "THE ENERGY Regulatory Commission (ERC) ordered four electric cooperatives to pay a combined P2.5 million in administrative penalties for failing to submit required monthly reports that serve as basis for regulating charges that are passed on to consumers.\u00a0" }, { "id": "/?p=438388", "url": "/economy/2022/03/27/438388/luzon-grid-placed-on-yellow-alert-after-seven-plant-outage/", "title": "Luzon grid placed on yellow alert after seven-plant outage", "content_html": "THE Luzon power grid was briefly placed on yellow alert on Saturday night, after seven facilities with a combined capacity of 2,011 megawatts (MW) suffered forced outages.
\nThe 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.
\nIt said that the operating requirement for Saturday was 9,998 MW, while available capacity on the grid was 10,487 MW.
\nYellow alerts signify thinning power reserves and can worsen to red alerts if the supply-demand balance goes to the extent of requiring rotating brownouts.
\nThe 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.
\nOn 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.
\nThe yellow alert was eventually lifted \u201cdue to receding demand.\u201d
\nThe dry season officially started last week, the period when power demand tends to rise due to the increased need for cooling.
\nAccording 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.
\nThe 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.
\nEnergy Secretary Alfonso. G. Cusi said participation in Earth Hour was \u201ca significant contribution to our country\u2019s energy efficiency and conservation efforts.\u201d
\nLast 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. \u2014 Marielle C. Lucenio
\n", "content_text": "THE Luzon power grid was briefly placed on yellow alert on Saturday night, after seven facilities with a combined capacity of 2,011 megawatts (MW) suffered forced outages.\nThe 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.\nIt said that the operating requirement for Saturday was 9,998 MW, while available capacity on the grid was 10,487 MW.\nYellow alerts signify thinning power reserves and can worsen to red alerts if the supply-demand balance goes to the extent of requiring rotating brownouts.\nThe 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.\nOn 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.\nThe yellow alert was eventually lifted \u201cdue to receding demand.\u201d\nThe dry season officially started last week, the period when power demand tends to rise due to the increased need for cooling.\nAccording 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.\nThe 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.\nEnergy Secretary Alfonso. G. Cusi said participation in Earth Hour was \u201ca significant contribution to our country\u2019s energy efficiency and conservation efforts.\u201d\nLast 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. \u2014 Marielle C. Lucenio", "date_published": "2022-03-27T18:29:15+08:00", "date_modified": "2022-03-27T18:29:15+08:00", "authors": [ { "name": "大象传媒", "url": "/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/fc38d2668fdee8f1e2b22df5e72ae6f4ad265ab7814de4aa60060edd377a70ce?s=512&d=mm&r=g" } ], "author": { "name": "大象传媒", "url": "/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/fc38d2668fdee8f1e2b22df5e72ae6f4ad265ab7814de4aa60060edd377a70ce?s=512&d=mm&r=g" }, "image": "/wp-content/uploads/2021/08/electric-tower-pylon.jpg", "tags": [ "Featured2", "Marielle C. Lucenio", "Economy", "Editors' Picks" ], "summary": "THE Luzon power grid was briefly placed on yellow alert on Saturday night, after seven facilities with a combined capacity of 2,011 megawatts (MW) suffered forced outages." }, { "id": "/?p=438149", "url": "/corporate/2022/03/25/438149/creit-uses-327-million-over-allotment-shares/", "title": "CREIT uses 327-million over-allotment shares", "content_html": "CITICORE Energy REIT Corp. (CREIT) on Thursday said it would use the over-allotment option for its initial public offering of shares.
\n\u201cThe option shares of 327,273,000 common shares will be fully exercised,\u201d CREIT\u2019s stabilizing agent BDO Capital & Investment Corp. said in a Notice of Exercise of Overallotment Option filed to the exchange.
\nCREIT initially offered 2.18 billion common shares with the over-allotment option at offer price of P2.55 apiece.
\n\u201cThe reason behind CREIT\u2019s usage of the overallotment option is due to strong demand from investors,\u201d CREIT President Oliver Y. Tan said a Viber message.
\nIt can be recalled that the company has deferred its market debut earlier due to \u201cvoluminous transactions.\u201d On its listing day on Feb. 22, CREIT ended 11.37% higher, closing at P2.84 apiece from its IPO price of P2.55.
\nThe country\u2019s 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.
\nIt was said that the net proceeds from the IPO will be used to purchase properties in Bulacan and South Cotabato.
\nOn 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.
\nCREIT 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.
\nThe company\u2019s shares at the exchange went down by five centavos or 1.88% on Thursday to close at P2.61 apiece. \u2014 Marielle C. Lucenio
\n", "content_text": "CITICORE Energy REIT Corp. (CREIT) on Thursday said it would use the over-allotment option for its initial public offering of shares.\n\u201cThe option shares of 327,273,000 common shares will be fully exercised,\u201d CREIT\u2019s stabilizing agent BDO Capital & Investment Corp. said in a Notice of Exercise of Overallotment Option filed to the exchange.\nCREIT initially offered 2.18 billion common shares with the over-allotment option at offer price of P2.55 apiece.\n\u201cThe reason behind CREIT\u2019s usage of the overallotment option is due to strong demand from investors,\u201d CREIT President Oliver Y. Tan said a Viber message.\nIt can be recalled that the company has deferred its market debut earlier due to \u201cvoluminous transactions.\u201d On its listing day on Feb. 22, CREIT ended 11.37% higher, closing at P2.84 apiece from its IPO price of P2.55.\nThe country\u2019s 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.\nIt was said that the net proceeds from the IPO will be used to purchase properties in Bulacan and South Cotabato.\nOn 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.\nCREIT 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.\nThe company\u2019s shares at the exchange went down by five centavos or 1.88% on Thursday to close at P2.61 apiece. \u2014 Marielle C. Lucenio", "date_published": "2022-03-25T00:24:51+08:00", "date_modified": "2022-03-27T13:56:45+08:00", "authors": [ { "name": "大象传媒", "url": "/author/blexticauldulack/", "avatar": "https://secure.gravatar.com/avatar/1311207d4ac1996cb586666fe3d56418ca9f007d735b74eb19d3fa440df5c8b4?s=512&d=mm&r=g" } ], "author": { "name": "大象传媒", "url": "/author/blexticauldulack/", "avatar": "https://secure.gravatar.com/avatar/1311207d4ac1996cb586666fe3d56418ca9f007d735b74eb19d3fa440df5c8b4?s=512&d=mm&r=g" }, "image": "/wp-content/uploads/2022/01/CREIT-Citicore-reit-logo.jpg", "tags": [ "Marielle C. Lucenio", "Corporate" ] }, { "id": "/?p=438143", "url": "/corporate/2022/03/25/438143/edc-silliman-university-renew-power-supply-deal/", "title": "EDC, Silliman University renew power supply deal", "content_html": "Lopez-led Energy Development Corp. (EDC) will supply geothermal power to Silliman University (SU) for another two years, along with partial supply from the university\u2019s own solar panels.
\n\u201cWe 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,\u201d SU\u2019s Vice President for Development Jane Annette L. Belarmino said in a statement sent on Wednesday.
\nFrom 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.
\nThe geothermal power will be generated locally from EDC\u2019s Nasulo geothermal facility in Valencia, Negros Oriental, the company said.
\n\u201c[The renewal of contract is] our institution\u2019s commitment in institutionalizing our Environmental Principles, Policies, and Guidelines that serves as the blueprint for the university\u2019s major component activities in which the re-newable energy utilization is one,\u201d SU President Betty Cernol McCann said.
\nApart 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.
\n\u201cIn 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\u2019s field laboratory grounds in Palinpinon, Valencia, Negros Oriental, to provide a safe haven for the long-term survival of our Philippine native trees,\u201d the company said.
\nLast year, SU also committed to EDC\u2019s 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.
\nEDC, a subsidiary of First Gen Corp., has over 1,480 megawatts (MW) in its portfolio, accounting for 20% of the country\u2019s installed renewable energy capacity. Its 1,181-MW geothermal portfolio accounts for 62% of the country\u2019s installed geothermal capacity. \u2014 Marielle C. Lucenio
\n", "content_text": "Lopez-led Energy Development Corp. (EDC) will supply geothermal power to Silliman University (SU) for another two years, along with partial supply from the university\u2019s own solar panels.\n\u201cWe 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,\u201d SU\u2019s Vice President for Development Jane Annette L. Belarmino said in a statement sent on Wednesday.\nFrom 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.\nThe geothermal power will be generated locally from EDC\u2019s Nasulo geothermal facility in Valencia, Negros Oriental, the company said.\n\u201c[The renewal of contract is] our institution\u2019s commitment in institutionalizing our Environmental Principles, Policies, and Guidelines that serves as the blueprint for the university\u2019s major component activities in which the re-newable energy utilization is one,\u201d SU President Betty Cernol McCann said.\nApart 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.\n\u201cIn 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\u2019s field laboratory grounds in Palinpinon, Valencia, Negros Oriental, to provide a safe haven for the long-term survival of our Philippine native trees,\u201d the company said.\nLast year, SU also committed to EDC\u2019s 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.\nEDC, a subsidiary of First Gen Corp., has over 1,480 megawatts (MW) in its portfolio, accounting for 20% of the country\u2019s installed renewable energy capacity. Its 1,181-MW geothermal portfolio accounts for 62% of the country\u2019s installed geothermal capacity. \u2014 Marielle C. Lucenio", "date_published": "2022-03-25T00:21:41+08:00", "date_modified": "2022-03-25T08:07:45+08:00", "authors": [ { "name": "大象传媒", "url": "/author/blexticauldulack/", "avatar": "https://secure.gravatar.com/avatar/1311207d4ac1996cb586666fe3d56418ca9f007d735b74eb19d3fa440df5c8b4?s=512&d=mm&r=g" } ], "author": { "name": "大象传媒", "url": "/author/blexticauldulack/", "avatar": "https://secure.gravatar.com/avatar/1311207d4ac1996cb586666fe3d56418ca9f007d735b74eb19d3fa440df5c8b4?s=512&d=mm&r=g" }, "image": "/wp-content/uploads/2021/03/EDC-Logo-e1617345916839.png", "tags": [ "Marielle C. Lucenio", "Corporate" ] }, { "id": "/?p=437839", "url": "/corporate/2022/03/24/437839/first-gen-test-drives-integrated-ev-project/", "title": "First Gen test-drives integrated EV project", "content_html": "FIRST Gen Corp. has launched on Wednesday its electric vehicle (EV) initiative called GreenWheels, a project that the company said will bring it closer to carbon neutrality.
\n\u201cEVs do not spew CO2 (carbon dioxide) and other pollutants into the atmosphere, and these vehicles\u2019 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,\u201d First Gen President Francis Giles B. Puno said in a media release.
\nThe project will be used inside the company\u2019s Clean Energy Complex in Batangas City, supporting its push for reduced carbon emissions.
\nFirst Gen said under the GreenWheels project, it developed a fast EV charging station, which can accommodate multiple EVs, inside the complex.
\n\u201cFor the test vehicle, First Gen has acquired a Nissan LEAF, one of the first passenger EVs to hit the Philippine market,\u201d it said.
\nAfter 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.
\nThe same calculations showed the acquired car can run up to 311 kilometers in one full charge.
\nMr. Puno said the transport sector is a \u201ccrucial\u201d factor in mitigating climate change.
\n\u201cAs 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,\u201d he said.
\nOn Monday, First Gen reported that it ended last year with \u201cflat earnings\u201d 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.
\nFirst Gen shares at the local bourse went up 30 centavos or 1.24% to close at P24.55 apiece on Wednesday. \u2014 Marielle C. Lucenio
\n", "content_text": "FIRST Gen Corp. has launched on Wednesday its electric vehicle (EV) initiative called GreenWheels, a project that the company said will bring it closer to carbon neutrality.\n\u201cEVs do not spew CO2 (carbon dioxide) and other pollutants into the atmosphere, and these vehicles\u2019 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,\u201d First Gen President Francis Giles B. Puno said in a media release.\nThe project will be used inside the company\u2019s Clean Energy Complex in Batangas City, supporting its push for reduced carbon emissions.\nFirst Gen said under the GreenWheels project, it developed a fast EV charging station, which can accommodate multiple EVs, inside the complex.\n\u201cFor the test vehicle, First Gen has acquired a Nissan LEAF, one of the first passenger EVs to hit the Philippine market,\u201d it said.\nAfter 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.\nThe same calculations showed the acquired car can run up to 311 kilometers in one full charge.\nMr. Puno said the transport sector is a \u201ccrucial\u201d factor in mitigating climate change.\n\u201cAs 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,\u201d he said.\nOn Monday, First Gen reported that it ended last year with \u201cflat earnings\u201d 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.\nFirst Gen shares at the local bourse went up 30 centavos or 1.24% to close at P24.55 apiece on Wednesday. \u2014 Marielle C. Lucenio", "date_published": "2022-03-24T00:06:54+08:00", "date_modified": "2022-03-23T19:29:47+08:00", "authors": [ { "name": "大象传媒", "url": "/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/fc38d2668fdee8f1e2b22df5e72ae6f4ad265ab7814de4aa60060edd377a70ce?s=512&d=mm&r=g" } ], "author": { "name": "大象传媒", "url": "/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/fc38d2668fdee8f1e2b22df5e72ae6f4ad265ab7814de4aa60060edd377a70ce?s=512&d=mm&r=g" }, "image": "/wp-content/uploads/2021/08/FirstGen-logo-e1662553816172.jpg", "tags": [ "Marielle C. Lucenio", "Corporate" ], "summary": "FIRST Gen Corp. has launched on Wednesday its electric vehicle (EV) initiative called GreenWheels, a project that the company said will bring it closer to carbon neutrality." }, { "id": "/?p=437838", "url": "/corporate/2022/03/24/437838/five-entities-subscribe-to-acen-shares-for-p8-29-apiece/", "title": "Five entities subscribe to ACEN shares for P8.29 apiece", "content_html": "AC ENERGY Corp. (ACEN) on Wednesday said it had executed subscription agreements with five subscribers to nearly 390 million of its shares priced at P8.2889 apiece.
\nIn 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.
\nThe 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.
\n\u201cThe 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,\u201d the company said, adding that the prevailing US dollar-Philippine peso exchange rate was also used.
\nEarlier, 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.
\nThe move to take over UPC Philippines will allow ACEN to have ownership of the former\u2019s development projects consisting of more than 2,300
\nmegawatts (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.
\nShares in the company went up by six centavos or 0.75% to P8.03 apiece at the stock exchange on Wednesday. \u2014 Marielle C. Lucenio
\n", "content_text": "AC ENERGY Corp. (ACEN) on Wednesday said it had executed subscription agreements with five subscribers to nearly 390 million of its shares priced at P8.2889 apiece.\nIn 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.\nThe 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.\n\u201cThe 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,\u201d the company said, adding that the prevailing US dollar-Philippine peso exchange rate was also used.\nEarlier, 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.\nThe move to take over UPC Philippines will allow ACEN to have ownership of the former\u2019s development projects consisting of more than 2,300\nmegawatts (MW) of pipeline projects currently under development.\nACEN 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.\nShares in the company went up by six centavos or 0.75% to P8.03 apiece at the stock exchange on Wednesday. \u2014 Marielle C. Lucenio", "date_published": "2022-03-24T00:05:54+08:00", "date_modified": "2022-03-23T19:29:31+08:00", "authors": [ { "name": "大象传媒", "url": "/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/fc38d2668fdee8f1e2b22df5e72ae6f4ad265ab7814de4aa60060edd377a70ce?s=512&d=mm&r=g" } ], "author": { "name": "大象传媒", "url": "/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/fc38d2668fdee8f1e2b22df5e72ae6f4ad265ab7814de4aa60060edd377a70ce?s=512&d=mm&r=g" }, "image": "/wp-content/uploads/2022/01/acen-logo-2022.jpg", "tags": [ "Marielle C. Lucenio", "Corporate" ], "summary": "AC ENERGY Corp. (ACEN) on Wednesday said it had executed subscription agreements with five subscribers to nearly 390 million of its shares priced at P8.2889 apiece." }, { "id": "/?p=437875", "url": "/economy/2022/03/23/437875/solar-developer-sees-possible-tipping-point-for-phl-this-year/", "title": "Solar developer sees possible tipping point for PHL this year", "content_html": "SINGAPORE\u2019s Trina Solar Energy Development Pte. Ltd. said it expects the Philippine market for solar power to boom this year, declaring the industry capable of taking over the role played by more conventional energy sources.
\n\u201c(The solar power industry) can really take over (from) traditional energy sources,\u201d 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.
\n\u201cWhen 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,\u201d he said.
\nMr. 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.
\n\u201cNext year, we see (sufficient) supply,\u201d he said.
\nTrina Solar launched on Wednesday\u00a0its 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.
\nMr. 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.
\nTrina is also open to collaborating with more Philippine solar companies, following a current tieup with Solar Philippines Power Project Holdings, Inc.
\nTrina has a goal of installing 1.5 GW of solar power a year in the Philippines over the next 10-20 years.
\nIn 2020, the Philippines\u2019 power generation mix consisted of 57% coal-fired facilities, 21% renewable energy, 19% natural gas, and 2% oil. \u2014 Marielle C. Lucenio
\n", "content_text": "SINGAPORE\u2019s Trina Solar Energy Development Pte. Ltd. said it expects the Philippine market for solar power to boom this year, declaring the industry capable of taking over the role played by more conventional energy sources.\n\u201c(The solar power industry) can really take over (from) traditional energy sources,\u201d 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.\n\u201cWhen 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,\u201d he said.\nMr. 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.\n\u201cNext year, we see (sufficient) supply,\u201d he said.\nTrina Solar launched on Wednesday\u00a0its 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.\nMr. 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.\nTrina is also open to collaborating with more Philippine solar companies, following a current tieup with Solar Philippines Power Project Holdings, Inc.\nTrina has a goal of installing 1.5 GW of solar power a year in the Philippines over the next 10-20 years.\nIn 2020, the Philippines\u2019 power generation mix consisted of 57% coal-fired facilities, 21% renewable energy, 19% natural gas, and 2% oil. \u2014 Marielle C. Lucenio", "date_published": "2022-03-23T20:13:38+08:00", "date_modified": "2022-03-23T20:13:38+08:00", "authors": [ { "name": "大象传媒", "url": "/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/fc38d2668fdee8f1e2b22df5e72ae6f4ad265ab7814de4aa60060edd377a70ce?s=512&d=mm&r=g" } ], "author": { "name": "大象传媒", "url": "/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/fc38d2668fdee8f1e2b22df5e72ae6f4ad265ab7814de4aa60060edd377a70ce?s=512&d=mm&r=g" }, "image": "/wp-content/uploads/2022/03/Solar-panels.jpg", "tags": [ "Marielle C. Lucenio", "Economy" ], "summary": "SINGAPORE\u2019s Trina Solar Energy Development Pte. Ltd. said it expects the Philippine market for solar power to boom this year, declaring the industry capable of taking over the role played by more conventional energy sources." }, { "id": "/?p=437652", "url": "/corporate/2022/03/23/437652/ace-enexor-sets-74m-follow-on-offering-of-shares/", "title": "ACE Enexor sets 74M follow-on offering of shares", "content_html": "ACE Enexor, Inc. (ACEX) on Tuesday said its board of directors had agreed to issue more shares to the public through a follow-on offering.
\nIn 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.
\nThe 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.
\nIn 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.
\nACEX 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\u2019s force majeure period on SC 55.
\nIn February, ACEX and parent company AC Energy Corp. (ACEN) amended their deal, changing ACEN\u2019s ownership percentage to 89.78% from 89.96% of ACEX\u2019s capital stock.
\nThe transaction, which was executed on Jan. 31, transferred ACEN\u2019s rights and interests in five energy assets including Palawan55 to the exploration company.
\nShares in ACE Enexor at the local bourse slipped P1.95 or 8.5% to close at P21 apiece on Tuesday. \u2014 Marielle C. Lucenio
\n", "content_text": "ACE Enexor, Inc. (ACEX) on Tuesday said its board of directors had agreed to issue more shares to the public through a follow-on offering.\nIn 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.\nThe 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.\nIn 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.\nACEX 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\u2019s force majeure period on SC 55.\nIn February, ACEX and parent company AC Energy Corp. (ACEN) amended their deal, changing ACEN\u2019s ownership percentage to 89.78% from 89.96% of ACEX\u2019s capital stock.\nThe transaction, which was executed on Jan. 31, transferred ACEN\u2019s rights and interests in five energy assets including Palawan55 to the exploration company.\nShares in ACE Enexor at the local bourse slipped P1.95 or 8.5% to close at P21 apiece on Tuesday. \u2014 Marielle C. Lucenio", "date_published": "2022-03-23T00:06:11+08:00", "date_modified": "2022-03-22T20:13:44+08:00", "authors": [ { "name": "大象传媒", "url": "/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/fc38d2668fdee8f1e2b22df5e72ae6f4ad265ab7814de4aa60060edd377a70ce?s=512&d=mm&r=g" } ], "author": { "name": "大象传媒", "url": "/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/fc38d2668fdee8f1e2b22df5e72ae6f4ad265ab7814de4aa60060edd377a70ce?s=512&d=mm&r=g" }, "image": "/wp-content/uploads/2021/11/Ace-Enexor-logo-web.jpg", "tags": [ "Featured2", "Marielle C. Lucenio", "Corporate", "Editors' Picks" ], "summary": "ACE Enexor, Inc. (ACEX) on Tuesday said its board of directors had agreed to issue more shares to the public through a follow-on offering." }, { "id": "/?p=437649", "url": "/corporate/2022/03/23/437649/wilcon-taps-meralcos-spectrum-to-install-solar-power-systems/", "title": "Wilcon taps Meralco\u2019s Spectrum to install solar power systems", "content_html": "MSPECTRUM, Inc. is set to install a total of 1,306.46-kilowatt peak of solar photovoltaic (PV) systems in five stores of Wilcon Depot, Inc.
\n\u201cThe solar panels will have a combined annual generation capacity of 1.7 million kilowatt hours of clean energy and are expected to reduce Wilcon\u2019s carbon footprint by 1,222 tons annually. This is equivalent to 2.5 million trees planted,\u201d the companies said in a joint media statement on Tuesday.
\nManila Electric Co.\u2019s (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\u2019s carbon footprint by 1,222 tons yearly, which is said to be equivalent to planting 2.5 million trees.
\nThe branches that will soon have solar panels on their roof are in: Antipolo, Rizal; General Trias, Cavite; Tayabas, Quezon; Jaro, Iloilo; and Makato, Aklan.
\nOnce 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.
\n\u201cWilcon 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,\u201d 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.
\nSpectrum President and Chief Executive Ferdinand O. Geluz said Wilcon had the foresight in mitigating the impact of unstable fuel prices and low power supply.
\n\u201cNot only does [solar power] reduce carbon footprint, it also lessens energy costs which drives operational efficiency,\u201d Mr. Geluz said.
\nWilcon reported a 22.8% increase in net income to P692 million in the fourth quarter last year, as the retailer\u2019s 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.
\nMeralco, 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.
\nMeralco shares at the stocks exchange climbed P10.80 or 3.01% to close at P369.80 each on Tuesday. \u2014 Marielle C. Lucenio
\n", "content_text": "MSPECTRUM, Inc. is set to install a total of 1,306.46-kilowatt peak of solar photovoltaic (PV) systems in five stores of Wilcon Depot, Inc.\n\u201cThe solar panels will have a combined annual generation capacity of 1.7 million kilowatt hours of clean energy and are expected to reduce Wilcon\u2019s carbon footprint by 1,222 tons annually. This is equivalent to 2.5 million trees planted,\u201d the companies said in a joint media statement on Tuesday.\nManila Electric Co.\u2019s (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\u2019s carbon footprint by 1,222 tons yearly, which is said to be equivalent to planting 2.5 million trees.\nThe branches that will soon have solar panels on their roof are in: Antipolo, Rizal; General Trias, Cavite; Tayabas, Quezon; Jaro, Iloilo; and Makato, Aklan.\nOnce 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.\n\u201cWilcon 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,\u201d 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.\nSpectrum President and Chief Executive Ferdinand O. Geluz said Wilcon had the foresight in mitigating the impact of unstable fuel prices and low power supply.\n\u201cNot only does [solar power] reduce carbon footprint, it also lessens energy costs which drives operational efficiency,\u201d Mr. Geluz said.\nWilcon reported a 22.8% increase in net income to P692 million in the fourth quarter last year, as the retailer\u2019s 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.\nMeralco, 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.\nMeralco shares at the stocks exchange climbed P10.80 or 3.01% to close at P369.80 each on Tuesday. \u2014 Marielle C. Lucenio", "date_published": "2022-03-23T00:03:10+08:00", "date_modified": "2022-03-22T20:12:15+08:00", "authors": [ { "name": "大象传媒", "url": "/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/fc38d2668fdee8f1e2b22df5e72ae6f4ad265ab7814de4aa60060edd377a70ce?s=512&d=mm&r=g" } ], "author": { "name": "大象传媒", "url": "/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/fc38d2668fdee8f1e2b22df5e72ae6f4ad265ab7814de4aa60060edd377a70ce?s=512&d=mm&r=g" }, "image": "/wp-content/uploads/2021/04/corporate-default.jpg", "tags": [ "Marielle C. Lucenio", "Corporate" ], "summary": "MSPECTRUM, Inc. is set to install a total of 1,306.46-kilowatt peak of solar photovoltaic (PV) systems in five stores of Wilcon Depot, Inc." }, { "id": "/?p=437631", "url": "/economy/2022/03/22/437631/doe-advises-govt-agencies-to-save-power-ahead-of-polls/", "title": "DoE advises gov\u2019t agencies to save power ahead of polls", "content_html": "THE Department of Energy (DoE) said on Tuesday that it issued an advisory to government agencies to conserve energy due to the tight oil market and ahead of the May elections.
\nThe advisory calls for the mandatory implementation of energy efficiency and conservation (EE&C) programs.
\n\u201cWe issued this advisory to highlight the role of (EE&C) in ensuring the sufficiency of petroleum products supply amid the Russia-Ukraine crisis,\u201d Energy Secretary Alfonso G. Cusi said.
\nThe DoE also called on agencies to comply with the\u00a0guidelines of the Government Energy Management Program (GEMP). GEMP sets a 10% reduction target for government agencies\u2019 power and fuel consumption.
\nThe DoE said more efficient energy use will help ensure the smooth running of the May 9 elections.
\nIn January, the DoE raised the possibility of possible rotating outages on the Luzon grid in the two weeks after the elections.
\n\u201cAccording 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,\u201d it said in a statement.
\nMeanwhile, an alliance of energy efficiency companies said the government must also accelerate deployment of energy efficiency projects from the private sector.
\n\u201cIt 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,\u201d Philippine Energy Efficiency Alliance (PE2) President Alexander D. Ablaza said in a Viber message.
\nHe added that \u201cwhat the country needs right now is to accelerate timelines for energy efficiency deployment.\u201d
\n\u201c(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,\u201d he said.
\nIn February, the Board of Investments classified strategic energy efficiency (EE) projects as \u201ccritical to the structural transformation of the economy,\u201d eligible for the longest income tax holidays on offer. PE2 is calling for the inclusion of non-strategic projects in this category.
\nPE2 also proposes that authorities\u00a0\u201caccelerate 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\u2019s joint venture guidelines.\u201d \u2014 Marielle C. Lucenio
\n", "content_text": "THE Department of Energy (DoE) said on Tuesday that it issued an advisory to government agencies to conserve energy due to the tight oil market and ahead of the May elections.\nThe advisory calls for the mandatory implementation of energy efficiency and conservation (EE&C) programs.\n\u201cWe issued this advisory to highlight the role of (EE&C) in ensuring the sufficiency of petroleum products supply amid the Russia-Ukraine crisis,\u201d Energy Secretary Alfonso G. Cusi said.\nThe DoE also called on agencies to comply with the\u00a0guidelines of the Government Energy Management Program (GEMP). GEMP sets a 10% reduction target for government agencies\u2019 power and fuel consumption.\nThe DoE said more efficient energy use will help ensure the smooth running of the May 9 elections.\nIn January, the DoE raised the possibility of possible rotating outages on the Luzon grid in the two weeks after the elections.\n\u201cAccording 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,\u201d it said in a statement.\nMeanwhile, an alliance of energy efficiency companies said the government must also accelerate deployment of energy efficiency projects from the private sector.\n\u201cIt 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,\u201d Philippine Energy Efficiency Alliance (PE2) President Alexander D. Ablaza said in a Viber message.\nHe added that \u201cwhat the country needs right now is to accelerate timelines for energy efficiency deployment.\u201d\n\u201c(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,\u201d he said.\nIn February, the Board of Investments classified strategic energy efficiency (EE) projects as \u201ccritical to the structural transformation of the economy,\u201d eligible for the longest income tax holidays on offer. PE2 is calling for the inclusion of non-strategic projects in this category.\nPE2 also proposes that authorities\u00a0\u201caccelerate 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\u2019s joint venture guidelines.\u201d \u2014 Marielle C. Lucenio", "date_published": "2022-03-22T20:00:59+08:00", "date_modified": "2022-03-22T20:00:59+08:00", "authors": [ { "name": "大象传媒", "url": "/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/fc38d2668fdee8f1e2b22df5e72ae6f4ad265ab7814de4aa60060edd377a70ce?s=512&d=mm&r=g" } ], "author": { "name": "大象传媒", "url": "/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/fc38d2668fdee8f1e2b22df5e72ae6f4ad265ab7814de4aa60060edd377a70ce?s=512&d=mm&r=g" }, "image": "/wp-content/uploads/2022/03/electric-meter.jpg", "tags": [ "Marielle C. Lucenio", "Economy" ], "summary": "THE Department of Energy (DoE) said on Tuesday that it issued an advisory to government agencies to conserve energy due to the tight oil market and ahead of the May elections." }, { "id": "/?p=437359", "url": "/top-stories/2022/03/22/437359/fuel-retailers-cut-pump-prices-for-1st-time-in-2022/", "title": "Fuel retailers cut pump prices for 1st time in 2022", "content_html": "\n
FUEL RETAILERS on Tuesday implemented a rollback in the prices of gasoline, diesel and kerosene, ending 11 straight weeks of steadily rising pump prices.
\nThe 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.
\nThis 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.
\nEnergy 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.
\nIn 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.
\nDuring 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.
\nDespite the decline in fuel prices, Mr. Cusi said the government will increase the P3-billion budget for fuel subsidies to P6.1 billion. \u2014 Marielle C. Lucenio
\n", "content_text": "FUEL RETAILERS on Tuesday implemented a rollback in the prices of gasoline, diesel and kerosene, ending 11 straight weeks of steadily rising pump prices.\nThe 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.\nThis 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. \nEnergy 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.\nIn 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. \nDuring 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.\nDespite the decline in fuel prices, Mr. Cusi said the government will increase the P3-billion budget for fuel subsidies to P6.1 billion. \u2014 Marielle C. Lucenio", "date_published": "2022-03-22T00:32:56+08:00", "date_modified": "2022-03-21T19:57:07+08:00", "authors": [ { "name": "大象传媒", "url": "/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/fc38d2668fdee8f1e2b22df5e72ae6f4ad265ab7814de4aa60060edd377a70ce?s=512&d=mm&r=g" } ], "author": { "name": "大象传媒", "url": "/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/fc38d2668fdee8f1e2b22df5e72ae6f4ad265ab7814de4aa60060edd377a70ce?s=512&d=mm&r=g" }, "image": "/wp-content/uploads/2022/02/gas-station-1.jpg", "tags": [ "Marielle C. Lucenio", "大象传媒" ], "summary": "FUEL RETAILERS on Tuesday implemented a rollback in the prices of gasoline, diesel and kerosene, ending 11 straight weeks of steadily rising pump prices." }, { "id": "/?p=437398", "url": "/corporate/2022/03/22/437398/first-gen-logs-p12-4-b-attributable-recurring-net-income/", "title": "First Gen logs P12.4-B attributable recurring net income", "content_html": "FIRST GEN Corp. ended last year with \u201cflat earnings\u201d of P12.4 billion attributable to equity holders, with more expensive fuel prices offsetting higher electricity sales as power demand recovered to pre-pandemic levels, the company said on Monday.
\n\u201cFirst 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,\u201d First Gen President and Chief Operating Officer Francis Giles B. Puno said in a statement.
\n\u201cOur 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,\u201d he added.
\nThe company\u2019s natural gas platform registered 8% more in recurring earnings last year to P9.7 billion from P9.2 billion in 2020.
\n\u201cThe 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,\u201d the company said, referring to Republic Act No. 11534.
\nThe 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.
\nFirst Gen said that while its 97-megawatt Avion power plant \u201chad 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.\u201d
\nMeanwhile, Avion plant\u2019s Unit 2 \u201cwas 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.\u201d
\nIn December, Avion\u2019s Unit 1 was found to have incurred damage. It was brought back to operations by February 2022.
\n\u201cFrom 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,\u201d it detailed.
\nEnergy 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\u2019s recurring income of P4.5 billion.
\nAlthough 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.
\n\u201cThese were partly offset by lower interest expenses and income taxes. The renewable energy company\u2019s 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,\u201d it said.
\nFirst Gen\u2019s hydro platform\u2019s recurring earnings contribution climbed to P180 million in 2021 from P70 million in the previous year.
\n\u201cThe 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,\u201d the company said.
\nThe 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\u2019s geothermal, wind, and solar revenues; and 5% hydro plant revenues.
\nFirst Gen shares at the local bourse dropped a peso or 3.85% to close at P25 apiece on Monday. \u2014 Marielle C. Lucenio
\n", "content_text": "FIRST GEN Corp. ended last year with \u201cflat earnings\u201d of P12.4 billion attributable to equity holders, with more expensive fuel prices offsetting higher electricity sales as power demand recovered to pre-pandemic levels, the company said on Monday.\n\u201cFirst 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,\u201d First Gen President and Chief Operating Officer Francis Giles B. Puno said in a statement.\n\u201cOur 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,\u201d he added.\nThe company\u2019s natural gas platform registered 8% more in recurring earnings last year to P9.7 billion from P9.2 billion in 2020.\n\u201cThe 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,\u201d the company said, referring to Republic Act No. 11534.\nThe 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.\nFirst Gen said that while its 97-megawatt Avion power plant \u201chad 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.\u201d\nMeanwhile, Avion plant\u2019s Unit 2 \u201cwas 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.\u201d\nIn December, Avion\u2019s Unit 1 was found to have incurred damage. It was brought back to operations by February 2022.\n\u201cFrom 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,\u201d it detailed.\nEnergy 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\u2019s recurring income of P4.5 billion.\nAlthough 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.\n\u201cThese were partly offset by lower interest expenses and income taxes. The renewable energy company\u2019s 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,\u201d it said.\nFirst Gen\u2019s hydro platform\u2019s recurring earnings contribution climbed to P180 million in 2021 from P70 million in the previous year.\n\u201cThe 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,\u201d the company said.\nThe 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\u2019s geothermal, wind, and solar revenues; and 5% hydro plant revenues.\nFirst Gen shares at the local bourse dropped a peso or 3.85% to close at P25 apiece on Monday. \u2014 Marielle C. Lucenio", "date_published": "2022-03-22T00:06:02+08:00", "date_modified": "2022-03-21T20:32:49+08:00", "authors": [ { "name": "大象传媒", "url": "/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/fc38d2668fdee8f1e2b22df5e72ae6f4ad265ab7814de4aa60060edd377a70ce?s=512&d=mm&r=g" } ], "author": { "name": "大象传媒", "url": "/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/fc38d2668fdee8f1e2b22df5e72ae6f4ad265ab7814de4aa60060edd377a70ce?s=512&d=mm&r=g" }, "image": "/wp-content/uploads/2021/08/FirstGen-logo-e1662553816172.jpg", "tags": [ "Featured2", "Marielle C. Lucenio", "Corporate", "Editors' Picks" ], "summary": "FIRST GEN Corp. ended last year with \u201cflat earnings\u201d of P12.4 billion attributable to equity holders, with more expensive fuel prices offsetting higher electricity sales as power demand recovered to pre-pandemic levels, the company said on Monday." }, { "id": "/?p=437347", "url": "/corporate/2022/03/22/437347/vivant-says-power-generation-drives-23-rise-in-net-income/", "title": "ACEN unit signs deal to buy UPC Philippines\u2019 stake in 12 firms", "content_html": "AC ENERGY Corp. (ACEN) on Monday said its subsidiary had signed an agreement to buy the ownership interest and subscription rights of UPC Philippines Wind Investment Co. BV and a certain Stella Marie L. Sutton in 12 power companies.
\nIn 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.
\nIt 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\u2019s project development, management, and operations platform.
\nThe 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.
\nACEN will buy out UPC Philippines\u2019 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.
\n\u201cThe acquisition by the company of UPC Philippines\u2019 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\u2019s share in the revenues of NLR and future revenues of BWPC,\u201d ACEN said in its disclosure.
\n\u201cThe Company will further have ownership of UPC Philippines development projects consisting of more than 2,300 MW of pipeline projects currently under development,\u201d it added.
\nACEN 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.
\nAt 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.
\nIn 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.
\nACEN shares at the local bourse slipped 30 centavos or 3.66% to close at P7.90 apiece on Monday. \u2014 Marielle C. Lucenio
\n", "content_text": "AC ENERGY Corp. (ACEN) on Monday said its subsidiary had signed an agreement to buy the ownership interest and subscription rights of UPC Philippines Wind Investment Co. BV and a certain Stella Marie L. Sutton in 12 power companies.\nIn 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.\nIt 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\u2019s project development, management, and operations platform.\nThe 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.\nACEN will buy out UPC Philippines\u2019 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.\n\u201cThe acquisition by the company of UPC Philippines\u2019 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\u2019s share in the revenues of NLR and future revenues of BWPC,\u201d ACEN said in its disclosure.\n\u201cThe Company will further have ownership of UPC Philippines development projects consisting of more than 2,300 MW of pipeline projects currently under development,\u201d it added.\nACEN 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.\nAt 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.\nIn 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.\nACEN shares at the local bourse slipped 30 centavos or 3.66% to close at P7.90 apiece on Monday. \u2014 Marielle C. Lucenio", "date_published": "2022-03-22T00:05:17+08:00", "date_modified": "2022-03-21T20:32:24+08:00", "authors": [ { "name": "大象传媒", "url": "/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/fc38d2668fdee8f1e2b22df5e72ae6f4ad265ab7814de4aa60060edd377a70ce?s=512&d=mm&r=g" } ], "author": { "name": "大象传媒", "url": "/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/fc38d2668fdee8f1e2b22df5e72ae6f4ad265ab7814de4aa60060edd377a70ce?s=512&d=mm&r=g" }, "image": "/wp-content/uploads/2022/01/acen-logo-2022.jpg", "tags": [ "Featured2", "Marielle C. Lucenio", "Corporate", "Editors' Picks" ], "summary": "AC ENERGY Corp. (ACEN) on Monday said its subsidiary had signed an agreement to buy the ownership interest and subscription rights of UPC Philippines Wind Investment Co. BV and a certain Stella Marie L. Sutton in 12 power companies." }, { "id": "/?p=437401", "url": "/corporate/2022/03/22/437401/vivant-says-power-generation-drives-23-rise-in-net-income-2/", "title": "Vivant says power generation drives 23% rise in net income", "content_html": "CEBU-BASED Vivant Corp. on Monday reported a 23% increase consolidated net income attributable to the parent firm to P1.78 billion in 2021 driven by its power generation segment.
\nExcluding 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.
\n\u201cWe\u2019re 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,\u201d said Vivant Chief Executive Officer Arlo Angelo G. Sarmiento said.
\nMr. Sarmiento added that government policies during the pandemic helped the company to survive.
\nVivant 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.
\nThe company\u2019s power generation business was the major driver of its earnings with a 69% share in the company\u2019s total income from its business segments after its contribution increased 11% to P1.70 billion.
\n\u201cThe favorable spot market prices and the fresh contributions of newly acquired generation companies in 2021 led to the enhanced profit performance of the group,\u201d the company said.
\nMeanwhile, its electricity distribution business contributed P745.57 million, 29% higher than its P579.02 million share in 2020.
\n\u201cAlthough electricity sales for the year only grew marginally, Vivant\u2019s 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,\u201d the company said.
\nThe retail electricity group\u2019s share also soared to P64.40 million last year from the P3.93 million in 2020.
\nThe 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.
\nVivant earlier invested in water solutions and saw the commissioning of a combined septage and sewage treatment plant in Puerto Princesa City in Palawan.
\n\u201cThe plant, a private-public partnership project with the City Government of Palawan, will help rehabilitate the Puerto Princesa Bay,\u201d it said.
\nVivant shares at the stock exchange on Monday were unchanged at P14.02 apiece. \u2014 Marielle C. Lucenio
\n", "content_text": "CEBU-BASED Vivant Corp. on Monday reported a 23% increase consolidated net income attributable to the parent firm to P1.78 billion in 2021 driven by its power generation segment.\nExcluding 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.\n\u201cWe\u2019re 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,\u201d said Vivant Chief Executive Officer Arlo Angelo G. Sarmiento said.\nMr. Sarmiento added that government policies during the pandemic helped the company to survive.\nVivant 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.\nThe company\u2019s power generation business was the major driver of its earnings with a 69% share in the company\u2019s total income from its business segments after its contribution increased 11% to P1.70 billion.\n\u201cThe favorable spot market prices and the fresh contributions of newly acquired generation companies in 2021 led to the enhanced profit performance of the group,\u201d the company said.\nMeanwhile, its electricity distribution business contributed P745.57 million, 29% higher than its P579.02 million share in 2020.\n\u201cAlthough electricity sales for the year only grew marginally, Vivant\u2019s 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,\u201d the company said.\nThe retail electricity group\u2019s share also soared to P64.40 million last year from the P3.93 million in 2020.\nThe 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.\nVivant earlier invested in water solutions and saw the commissioning of a combined septage and sewage treatment plant in Puerto Princesa City in Palawan.\n\u201cThe plant, a private-public partnership project with the City Government of Palawan, will help rehabilitate the Puerto Princesa Bay,\u201d it said.\nVivant shares at the stock exchange on Monday were unchanged at P14.02 apiece. \u2014 Marielle C. Lucenio", "date_published": "2022-03-22T00:04:02+08:00", "date_modified": "2022-03-21T20:32:02+08:00", "authors": [ { "name": "大象传媒", "url": "/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/fc38d2668fdee8f1e2b22df5e72ae6f4ad265ab7814de4aa60060edd377a70ce?s=512&d=mm&r=g" } ], "author": { "name": "大象传媒", "url": "/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/fc38d2668fdee8f1e2b22df5e72ae6f4ad265ab7814de4aa60060edd377a70ce?s=512&d=mm&r=g" }, "image": "/wp-content/uploads/2021/11/Vivant-logo.jpg", "tags": [ "Marielle C. Lucenio", "Corporate" ], "summary": "CEBU-BASED Vivant Corp. on Monday reported a 23% increase consolidated net income attributable to the parent firm to P1.78 billion in 2021 driven by its power generation segment." }, { "id": "/?p=437057", "url": "/corporate/2022/03/21/437057/crec-to-supply-solar-power-to-toyota-motors-cebu/", "title": "CREC to supply solar power to Toyota Motors Cebu", "content_html": "A UNIT of Citicore Renewable Energy Corp. (CREC) will supply renewable energy to a Toyota Motor Philippines Corp. franchisee in Cebu to step up the \u201cacceleration of its customer diversification,\u201d the company said.
\nIn 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\u2019s Green Energy Option Program (GEOP).
\nGEOP allows end-users with 100-kilowatt power demand to opt for renewable energy supply from sources accredited by the Energy department.
\n\u201cThe 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,\u201d said CREC President and Chief Executive Officer Oliver Y. Tan in a statement.
\nThe company declined to disclose the contracted power supply, but said it sees the agreement as \u201ca start in the automotive market.\u201d
\nCREC 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.
\n\u201cThis entry into the automotive industry is another testament to CREC\u2019s capability to deliver reliable supply of energy to any areas and business, while being more always available and accessible to its potential customers,\u201d Mr. Tan said.
\nCREC 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. \u2014 Marielle C. Lucenio
\n", "content_text": "A UNIT of Citicore Renewable Energy Corp. (CREC) will supply renewable energy to a Toyota Motor Philippines Corp. franchisee in Cebu to step up the \u201cacceleration of its customer diversification,\u201d the company said.\nIn 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\u2019s Green Energy Option Program (GEOP).\nGEOP allows end-users with 100-kilowatt power demand to opt for renewable energy supply from sources accredited by the Energy department.\n\u201cThe 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,\u201d said CREC President and Chief Executive Officer Oliver Y. Tan in a statement.\nThe company declined to disclose the contracted power supply, but said it sees the agreement as \u201ca start in the automotive market.\u201d\nCREC 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.\n\u201cThis entry into the automotive industry is another testament to CREC\u2019s capability to deliver reliable supply of energy to any areas and business, while being more always available and accessible to its potential customers,\u201d Mr. Tan said.\nCREC 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. \u2014 Marielle C. Lucenio", "date_published": "2022-03-21T00:03:12+08:00", "date_modified": "2022-03-20T18:10:22+08:00", "authors": [ { "name": "大象传媒", "url": "/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/fc38d2668fdee8f1e2b22df5e72ae6f4ad265ab7814de4aa60060edd377a70ce?s=512&d=mm&r=g" } ], "author": { "name": "大象传媒", "url": "/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/fc38d2668fdee8f1e2b22df5e72ae6f4ad265ab7814de4aa60060edd377a70ce?s=512&d=mm&r=g" }, "image": "/wp-content/uploads/2022/03/Citicore-Renewable-Energy-CREC-logo-e1676202777484.jpg", "tags": [ "Marielle C. Lucenio", "Corporate" ], "summary": "A UNIT of Citicore Renewable Energy Corp. (CREC) will supply renewable energy to a Toyota Motor Philippines Corp. franchisee in Cebu to step up the \u201cacceleration of its customer diversification,\u201d the company said." }, { "id": "/?p=437095", "url": "/the-nation/2022/03/20/437095/robredo-open-to-nuclear-power-source-but-rejects-bataan-plant-revival/", "title": "Robredo open to nuclear power source but rejects Bataan plant revival", "content_html": "PRESIDENTIAL candidate Vice President Maria Leonor \u201cLeni\u201d G. Robredo is open to the adoption of nuclear energy as a power source for the Philippines, but rejected the reopening the mothballed 620-megawatt Bataan Nuclear Power Plant (BNPP), citing safety concerns.
\n\u201cWe 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,\u201d Ms. Robredo told the media after the first presidential debate hosted by the Commission on Elections (COMELEC) on Saturday night.
\nDiscussions 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\u2019s energy mix as the government moves to abandon coal.
\nMs. 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.
\nThe vice president, however, stressed that she would push more for renewable energy sources in line with the country\u2019s commitment to curb carbon emissions from fossil fuels.
\n\u201cAnd 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,\u201d she said.
\nCOP26 is the 26th 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.
\nIn 2020, the Philippines\u2019 power mix consisted of 57% coal, 21% renewable energy, 19% natural gas, and 2% oil-based.
\n\u201cAdmittedly, nuclear power is cleaner compared with fossil fuel, it is contentious especially because a lot of people are scared for its safety. That\u2019s our main concern,\u201d Ms. Robredo said.
\nAttempts 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.
\nEnergy 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.
\nThe 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.
\nMr. Marcos\u2019 only son and namesake Ferdinand R. Marcos Jr. is running for president in the coming elections. \u2014 Marielle C. Lucenio
\n", "content_text": "PRESIDENTIAL candidate Vice President Maria Leonor \u201cLeni\u201d G. Robredo is open to the adoption of nuclear energy as a power source for the Philippines, but rejected the reopening the mothballed 620-megawatt Bataan Nuclear Power Plant (BNPP), citing safety concerns.\n\u201cWe 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,\u201d Ms. Robredo told the media after the first presidential debate hosted by the Commission on Elections (COMELEC) on Saturday night.\nDiscussions 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\u2019s energy mix as the government moves to abandon coal.\nMs. 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.\nThe vice president, however, stressed that she would push more for renewable energy sources in line with the country\u2019s commitment to curb carbon emissions from fossil fuels.\n\u201cAnd 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,\u201d she said.\nCOP26 is the 26th 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.\nIn 2020, the Philippines\u2019 power mix consisted of 57% coal, 21% renewable energy, 19% natural gas, and 2% oil-based.\n\u201cAdmittedly, nuclear power is cleaner compared with fossil fuel, it is contentious especially because a lot of people are scared for its safety. That\u2019s our main concern,\u201d Ms. Robredo said.\nAttempts 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.\nEnergy 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.\nThe 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.\nMr. Marcos\u2019 only son and namesake Ferdinand R. Marcos Jr. is running for president in the coming elections. \u2014 Marielle C. Lucenio", "date_published": "2022-03-20T19:16:57+08:00", "date_modified": "2022-03-20T19:16:57+08:00", "authors": [ { "name": "大象传媒", "url": "/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/fc38d2668fdee8f1e2b22df5e72ae6f4ad265ab7814de4aa60060edd377a70ce?s=512&d=mm&r=g" } ], "author": { "name": "大象传媒", "url": "/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/fc38d2668fdee8f1e2b22df5e72ae6f4ad265ab7814de4aa60060edd377a70ce?s=512&d=mm&r=g" }, "image": "/wp-content/uploads/2022/03/Robredo-Leni-Comelecdebate-VP-LENI-MEDIA-BUREAU.jpg", "tags": [ "Marielle C. Lucenio", "The Nation" ], "summary": "PRESIDENTIAL candidate Vice President Maria Leonor \u201cLeni\u201d G. Robredo is open to the adoption of nuclear energy as a power source for the Philippines, but rejected the reopening the mothballed 620-megawatt Bataan Nuclear Power Plant (BNPP), citing safety concerns." }, { "id": "/?p=436745", "url": "/corporate/2022/03/18/436745/meralco-seeks-180-mw-emergency-baseload-supply-for-summer/", "title": "Meralco seeks 180-MW emergency baseload supply for summer", "content_html": "MANILA Electric Co. (Meralco) on Thursday said it is seeking bidders to participate in its competitive selection process (CSP) for the supply of 180-megawatt (MW) baseload power needed for the dry months.
\nInterested companies may express their intent until March 31, a week before the planned pre-bid conference. The bid submission is on May 4.
\nThe company said it opened the bidding after the Energy department had approved the terms of reference for the procurement.
\nThe 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.
\n\u201cForming 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\u2019s continued inability to supply adequate natural gas fuel,\u201d the company said.
\nIn February, Meralco entered into a power supply agreement with San Miguel Corp.\u2019s South Premiere Power Corp. for the initial 170-MW of peaking power supply, which is now pending approval from the energy regulator.
\nEarlier, 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.
\nAccording 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.
\nMeanwhile, 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.
\nMeralco 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.
\n\u201cThe 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,\u201d he said.
\nFor 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.
\nMeralco\u2019s 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.
\nAt the stock exchange, Meralco shares slipped P2 or 0.53% to close at P378 each. \u2014 Marielle C. Lucenio
\n", "content_text": "MANILA Electric Co. (Meralco) on Thursday said it is seeking bidders to participate in its competitive selection process (CSP) for the supply of 180-megawatt (MW) baseload power needed for the dry months.\nInterested companies may express their intent until March 31, a week before the planned pre-bid conference. The bid submission is on May 4.\nThe company said it opened the bidding after the Energy department had approved the terms of reference for the procurement.\nThe 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.\n\u201cForming 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\u2019s continued inability to supply adequate natural gas fuel,\u201d the company said.\nIn February, Meralco entered into a power supply agreement with San Miguel Corp.\u2019s South Premiere Power Corp. for the initial 170-MW of peaking power supply, which is now pending approval from the energy regulator.\nEarlier, 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.\nAccording 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.\nMeanwhile, 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.\nMeralco 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.\n\u201cThe 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,\u201d he said.\nFor 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.\nMeralco\u2019s 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.\nAt the stock exchange, Meralco shares slipped P2 or 0.53% to close at P378 each. \u2014 Marielle C. Lucenio", "date_published": "2022-03-18T00:07:14+08:00", "date_modified": "2022-03-17T20:42:58+08:00", "authors": [ { "name": "大象传媒", "url": "/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/fc38d2668fdee8f1e2b22df5e72ae6f4ad265ab7814de4aa60060edd377a70ce?s=512&d=mm&r=g" } ], "author": { "name": "大象传媒", "url": "/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/fc38d2668fdee8f1e2b22df5e72ae6f4ad265ab7814de4aa60060edd377a70ce?s=512&d=mm&r=g" }, "image": "/wp-content/uploads/2021/09/Meralco.jpg", "tags": [ "Featured2", "Marielle C. Lucenio", "Corporate", "Editors' Picks" ], "summary": "MANILA Electric Co. (Meralco) on Thursday said it is seeking bidders to participate in its competitive selection process (CSP) for the supply of 180-megawatt (MW) baseload power needed for the dry months." }, { "id": "/?p=436743", "url": "/corporate/2022/03/18/436743/spnec-to-use-offering-proceeds-to-start-4-gw-solar-projects/", "title": "SPNEC to use offering proceeds to start 4-GW solar projects", "content_html": "INSTEAD of waiting for the effectivity of its authorized capital stock increase, Solar Philippines Nueva Ecija Corp. (SPNEC) eyes using proceeds from its planned stock rights offering (SRO) for the 4 gigawatts (GW) of its 10-GW projects, the company said on Thursday.
\nIn 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.
\n\u201cWe 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,\u201d said Solar Philippines founder Leandro Leviste.
\nEarlier, SPNEC said it targets to complete its asset-for-share deal with its parent company by the middle of this year.
\nOnce 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.
\nThe solar firm earlier said it was planning to raise P10 billion from its SRO in the second quarter of this year.
\nThe 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.
\nSPNEC shares at the local bourse surged 21 centavos or 13.55% to close P1.76 apiece on Thursday. \u2014 Marielle C. Lucenio
\n", "content_text": "INSTEAD of waiting for the effectivity of its authorized capital stock increase, Solar Philippines Nueva Ecija Corp. (SPNEC) eyes using proceeds from its planned stock rights offering (SRO) for the 4 gigawatts (GW) of its 10-GW projects, the company said on Thursday.\nIn 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.\n\u201cWe 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,\u201d said Solar Philippines founder Leandro Leviste.\nEarlier, SPNEC said it targets to complete its asset-for-share deal with its parent company by the middle of this year.\nOnce 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.\nThe solar firm earlier said it was planning to raise P10 billion from its SRO in the second quarter of this year.\nThe 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.\nSPNEC shares at the local bourse surged 21 centavos or 13.55% to close P1.76 apiece on Thursday. \u2014 Marielle C. Lucenio", "date_published": "2022-03-18T00:05:12+08:00", "date_modified": "2022-03-17T20:42:21+08:00", "authors": [ { "name": "大象传媒", "url": "/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/fc38d2668fdee8f1e2b22df5e72ae6f4ad265ab7814de4aa60060edd377a70ce?s=512&d=mm&r=g" } ], "author": { "name": "大象传媒", "url": "/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/fc38d2668fdee8f1e2b22df5e72ae6f4ad265ab7814de4aa60060edd377a70ce?s=512&d=mm&r=g" }, "image": "/wp-content/uploads/2022/03/SPNEC-logo.jpg", "tags": [ "Marielle C. Lucenio", "Corporate" ], "summary": "INSTEAD of waiting for the effectivity of its authorized capital stock increase, Solar Philippines Nueva Ecija Corp. (SPNEC) eyes using proceeds from its planned stock rights offering (SRO) for the 4 gigawatts (GW) of its 10-GW projects, the company said on Thursday." }, { "id": "/?p=436741", "url": "/corporate/2022/03/18/436741/taft-hydro-energy-switches-on-16-mw-hydropower-project/", "title": "Taft Hydro Energy switches on 16-MW hydropower project", "content_html": "TAFT Hydro Energy Corp. announced on Thursday that its 16-megawatt (MW) hydropower project has started commercial operations after an almost three-month delay, boosting power supply in Samar and Leyte.
\n\u201cHydro projects are challenging to build but despite the pandemic [the company] did it in record time of less than two years,\u201d Taft Hydro Energy President Benjie Q. Picardo said in a statement.
\nHe 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 \u201cand our workers on the ground who went the extra mile so we can complete this project on time and on budget.\u201d
\nThe 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.
\nThe 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.
\nThe hydropower project is seen to boost the potential of the tuna industry in the area, which is part of the so-called \u201ctuna highway,\u201d as logistics and cold storages were hampered by the lack of power.
\n\u201cAt 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,\u201d Mr. Picardo said.
\nTaft 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. \u2014 Marielle C. Lucenio
\n", "content_text": "TAFT Hydro Energy Corp. announced on Thursday that its 16-megawatt (MW) hydropower project has started commercial operations after an almost three-month delay, boosting power supply in Samar and Leyte.\n\u201cHydro projects are challenging to build but despite the pandemic [the company] did it in record time of less than two years,\u201d Taft Hydro Energy President Benjie Q. Picardo said in a statement.\nHe 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 \u201cand our workers on the ground who went the extra mile so we can complete this project on time and on budget.\u201d\nThe 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.\nThe 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.\nThe hydropower project is seen to boost the potential of the tuna industry in the area, which is part of the so-called \u201ctuna highway,\u201d as logistics and cold storages were hampered by the lack of power.\n\u201cAt 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,\u201d Mr. Picardo said.\nTaft 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. \u2014 Marielle C. Lucenio", "date_published": "2022-03-18T00:03:12+08:00", "date_modified": "2022-03-17T20:41:59+08:00", "authors": [ { "name": "大象传媒", "url": "/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/fc38d2668fdee8f1e2b22df5e72ae6f4ad265ab7814de4aa60060edd377a70ce?s=512&d=mm&r=g" } ], "author": { "name": "大象传媒", "url": "/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/fc38d2668fdee8f1e2b22df5e72ae6f4ad265ab7814de4aa60060edd377a70ce?s=512&d=mm&r=g" }, "image": "/wp-content/uploads/2021/04/corporate-default.jpg", "tags": [ "Marielle C. Lucenio", "Corporate" ], "summary": "TAFT Hydro Energy Corp. announced on Thursday that its 16-megawatt (MW) hydropower project has started commercial operations after an almost three-month delay, boosting power supply in Samar and Leyte." }, { "id": "/?p=436740", "url": "/corporate/2022/03/18/436740/pdex-clears-aboitizpowers-p10-b-bonds-listing/", "title": "PDEx clears AboitizPower\u2019s P10-B bonds listing", "content_html": "ABOITIZ Power Corp. on Thursday said it was allowed by The Philippine Dealing & Exchange Corp. (PDEx) to list its P10-billion fixed-rate retail bonds with oversubscription, the final tranche of its P30-billion debt securities program.
\nIn a disclosure to the exchange, the power company said the approval will open the secondary market trading of its Series \u201cD\u201d bonds with a fixed interest rate of 5.3066% per annum maturing in 2027, and the Series \u201cE\u201d bonds with a fixed interest rate of 5.7388% per annum maturing in 2029.
\nThe 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.
\nBDO 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.
\nAboitizPower recently reported a consolidated net income of P20.8 billion for 2021, higher by 66% than the earlier year\u2019s profit, on the back of commissioning revenues and higher dispatch at the wholesale electricity spot market.
\nFor the fourth quarter alone, AboitizPower reported a consolidated net income of P5.2 billion, down 8% year on year.
\nAt the local bourse, the company\u2019s shares dropped 15 centavos or 0.44% to close P34.15 apiece on Thursday. \u2014 Marielle C. Lucenio
\n", "content_text": "ABOITIZ Power Corp. on Thursday said it was allowed by The Philippine Dealing & Exchange Corp. (PDEx) to list its P10-billion fixed-rate retail bonds with oversubscription, the final tranche of its P30-billion debt securities program.\nIn a disclosure to the exchange, the power company said the approval will open the secondary market trading of its Series \u201cD\u201d bonds with a fixed interest rate of 5.3066% per annum maturing in 2027, and the Series \u201cE\u201d bonds with a fixed interest rate of 5.7388% per annum maturing in 2029.\nThe 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.\nBDO 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.\nAboitizPower recently reported a consolidated net income of P20.8 billion for 2021, higher by 66% than the earlier year\u2019s profit, on the back of commissioning revenues and higher dispatch at the wholesale electricity spot market.\nFor the fourth quarter alone, AboitizPower reported a consolidated net income of P5.2 billion, down 8% year on year.\nAt the local bourse, the company\u2019s shares dropped 15 centavos or 0.44% to close P34.15 apiece on Thursday. \u2014 Marielle C. Lucenio", "date_published": "2022-03-18T00:02:11+08:00", "date_modified": "2022-03-17T20:41:47+08:00", "authors": [ { "name": "大象传媒", "url": "/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/fc38d2668fdee8f1e2b22df5e72ae6f4ad265ab7814de4aa60060edd377a70ce?s=512&d=mm&r=g" } ], "author": { "name": "大象传媒", "url": "/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/fc38d2668fdee8f1e2b22df5e72ae6f4ad265ab7814de4aa60060edd377a70ce?s=512&d=mm&r=g" }, "image": "/wp-content/uploads/2021/08/Aboitiz-Power-logo-720p-web.jpg", "tags": [ "Marielle C. Lucenio", "Corporate" ], "summary": "ABOITIZ Power Corp. on Thursday said it was allowed by The Philippine Dealing & Exchange Corp. (PDEx) to list its P10-billion fixed-rate retail bonds with oversubscription, the final tranche of its P30-billion debt securities program." } ] }