The country’s fuel stock remains steady and is expected to last for nearly 45 days, the Department of Energy (DOE) said Tuesday.

The Philippine Rural Electric Cooperatives Association (PHILRECA) backed the proposed removal of value-added tax (VAT) on system loss charges but warned that the reform must not transfer unrecovered costs to electric cooperatives or other parts of the power sector.

The Department of Energy is considering embedded generation to meet the power requirements of the proposed Pax Silica hub in Tarlac province amid concerns that there is not enough available supply.

The Department of Energy (DOE) has set maximum fuel price increases of PHP 6.80 per liter for gasoline, PHP 7.32 per liter for diesel, and PHP 4.22 per liter for kerosene for the week of July 28 to August 3.

The Philippine Rural Electric Cooperatives Association (PHILRECA) has urged the Energy Regulatory Commission (ERC) to speed up the approval of electric cooperative capital expenditure (CapEx) applications, saying prolonged regulatory reviews are delaying investments needed to modernize power distribution systems.

The European Chamber of Commerce of the Philippines (ECCP) has backed President Ferdinand Marcos Jr.’s energy agenda outlined in his fifth State of the Nation Address (SONA), saying the administration’s plans could improve the country’s energy security.

The Department of Energy on Monday expressed support for President Ferdinand “Bongbong” Marcos Jr.’s call for the immediate amendment of the Electric Power Industry Reform Act (EPIRA) to remove systems loss charges from consumers’ bills.

Senate Committee on Energy Chair Erwin Tulfo has filed Senate Resolution No. 535 seeking an investigation into recurring electricity bill increases and other complaints affecting power consumers.

Vena Energy said Monday it achieved financial close on the 500-megawatt-peak Ixus Bugallon Solar Power Project in Bugallon, Pangasinan, securing $310 million in debt financing from a syndicate of eight international banks.

The Manila Electric Co. (Meralco) may pursue legal action against the South Cotabato II Electric Cooperative (Socoteco II) following the rejection of its bid to partner with the nonprofit distribution utility, which favored a competing offer from Ignite Power.