Tag: meralco,
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JV of Meralco unit, PhilTower faces ‘more in-depth’ PCC scrutiny
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THE Philippine Competition Commission (PCC) on Tuesday said it has started a “more in-depth assessment” of a proposed joint venture (JV) between independent tower companies Phil-Tower Consortium, Inc. (PhilTower) and Miescor Infrastructure Development Corp. (MIDC). “On May 4, the Commission directed the PCC Mergers and Acquisitions Office to open a Phase 2…
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Meralco warns power rates to go up in June
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POWER RATES are expected to go up this month, due to higher settlement costs in the reserve market and the implementation of the new feed-in tariff allowance (FIT-All) rate, according to Manila Electric Co. (Meralco). A spike in generation charges amid tight supply, coupled with the peso depreciation, might also…
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Meralco eyes bids for 500MW of RE capacity
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MANILA Electric Co. (Meralco) on Monday said it has started seeking bids for 500 megawatts (MW) of renewable energy (RE) capacity to comply with a state requirement. In a statement on Monday, the power distributor said the competitive selection process is pursuant to the Energy department’s policy on renewable portfolio…
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Meralco rates up in May
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RESIDENTIAL CUSTOMERS in areas served by Manila Electric Co. (Meralco) will see higher electricity bills this month due to the increase in generation charge.
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Meralco Q1 net income up on higher energy sales
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MANILA Electric Co. (Meralco) recorded an 18.9% increase in its consolidated net income to P9.6 billion for the first quarter (q1) of the year, driven by energy sales and growth in other business segments. “[The increase was] due to higher energy sales volume of the distribution business and ongoing contributions…