ACEN Corp. saw a 28.3% drop in its first-quarter (Q1) attributable net income to P1.95 billion, mainly due to weaker power generation and lower spot market prices, the Ayala-led energy company said on Thursday.

THE Philippine Stock Exchange, Inc. (PSE) has tapped Lopez-led energy firm First Gen Corp. to supply renewable energy (RE) for the PSE Tower in Bonifacio Global City.

YUCHENGCO-LED PetroEnergy Resources Corp. (PERC) has secured key government approvals for its energy projects with a combined capacity of 4 gigawatts (GW), allowing the company to fast-track the projects’ development.

MANILA, Philippines — Ayala-led ACEN Corp. has ramped up its push to retire a coal plant in Batangas ahead of schedule by joining forces with Japan’s Mitsubishi Corp. and its unit, Diamond Generating Asia Ltd.

Following the Philippine Geothermal Production Company, Inc.’s (PGPC) recent exploration in Albay, the Department of Energy (DOE) has encouraged developers to further explore geothermal resources.

THE operator of the Wholesale Electricity Spot Market (WESM) expects “stable” power supply and spot market prices this year.

MANILA, Philippines — Relief may be in sight for Manila Electric Co. (Meralco)’s eight million customers as power rates are likely to drop this month despite the heat.

MANILA – The Energy Task Force on Election (ETFE), led by the Department of Energy (DOE), has assured the public of uninterrupted power supply nationwide during the May 12 midterm polls.

LOPEZ-LED First Gen Corp. reported a 4.4% increase in attributable net income to $82.3 million for the first quarter, driven by lower operating expenses.

MANILA — Government officials and the Mitsubishi Corporation have broken ground for a power substation that will supply electricity to the Metro Manila subway.