SINGAPORE — The Energy Regulatory Commission (ERC) said it is studying how to cushion the potential impact on consumers of rising electricity prices as the peso’s continued weakness makes imported fuel used by power plants more expensive.

MANILA, Philippines — Manila Electric Co. (Meralco) is looking to post a record consolidated core earnings of P56.6 billion this year.

MANILA, Philippines — MGEN Renewables Inc. (MGENR) is entering into a P4.98-billion share swap with the Meralco Group’s renewable energy arm, laying the groundwork for a potential re-initial public offering (IPO) next year.

SINGAPORE—“This is not the best time to be secretary.” This was the reply of Energy Secretary Sharon Garin when asked how the agency will respond to the ongoing oil crisis, the El Niño phenomenon, and the continued weakening of the Philippine peso—all of which are factors in determining fuel and electricity prices.

In a filing, the company is eyeing commercial operation of its proposed power project in 2030. At present, it is securing the necessary permits and various government approvals for the proposed project.

Subic Bay Freeport – Aboitiz-backed Subic EnerZone Corp. (SEZ) has renewed its franchise to operate and manage the power distribution system in this free port for another 25 years, with two years remaining in its original contract.

The Manila Electric Co. (Meralco) is on track to achieving its full-year profit target of P56 billion after it recorded a net income of P44.7 billion in January to September, up 21 percent from the same period a year ago.

SINGAPORE—Indonesia will keep supplying coal to the Philippines despite Jakarta’s recent steps to curb energy exports, Energy Secretary Sharon Garin said.

THE Aurora Pacific Economic Zone and Freeport Authority (APECO) said it entered into a partnership with US company ARQ Development Corp. LLC and S.C. Megaworld Construction to develop a nearly P10-billion liquefied natural gas (LNG)-powered generation facility and substation.

SINGAPORE — The world will add less clean energy capacity in 2026 for the first time in five years due to inadequate transmission networks and trade barriers, the chief of the International Renewable Energy Agency (IRENA) said.