Twenty-four leading importers have already engaged with the Bureau of Customs (BOC) over the creation of an elite importer group, including energy giants Petron Corp. and Shell Pilipinas Corp., as well as major players in the aviation, automotive, food, and manufacturing industries.

The government should tighten competition safeguards in the country’s power sector as it amends the two-decade-old Electric Power Industry Reform Act (EPIRA) of 2001, with preliminary research showing that the five largest conglomerates control about 85 percent of nationwide installed generation capacity, according to state-run policy think tank Philippine Institute for Development Studies (PIDS).

The Philippine Economic Zone Authority (PEZA) signed a memorandum of understanding (MOU) with South Premiere Power Corp. (SPPC) and Linseed Field Corp. (LFC) on July 30 to explore integrated liquefied natural gas (LNG) solutions for economic zones in CALABARZON.

GLOBAL investment firm Kohlberg Kravis Roberts & Co. (KKR) has proposed increasing its stake in Lopez-led First Gen Corp. and launching a tender offer for its remaining public shares, a transaction that could lead to the power producer’s voluntary delisting from the Philippine Stock Exchange (PSE).

MANILA, Philippines — About 200,000 members of the South Cotabato II Electric Cooperative (Socoteco II) will decide next month whether to approve a proposed joint venture with Razon-Pacquiao-backed Ignite Power, as the former faces P2.1 billion in financial losses and an aging network.

The Department of Energy (DOE) has delayed the competitive auction for the country’s largest coal deposit on Semirara Island to as far as November, seeking to overhaul contract terms to channel the vast majority of output toward domestic power generation and secure a larger government royalty share.

House Ways and Means Committee Chair and Marikina 2nd Dist. Rep. Miro Quimbo on Wednesday commended the Energy Regulatory Commission (ERC) for its move to remove the 12% value-added tax (VAT) from system loss charges.

LOCAL GOVERNMENT UNITS (LGUs) have been cleared to tap their development funds to build oil storage facilities and renewable energy infrastructure as the government seeks to mitigate the impact of global fuel supply disruptions.

RENEWABLE energy producer ACEN Corp. said it has completed a maintenance and refurbishment program for its 52-megawatt (MW) NorthWind wind farm in Ilocos Norte, extending the facility’s operating life by up to 10 years.

Semirara Mining and Power Corp.’s decision to retrench employees is an operational move and will not affect the planned auction of the Semirara coal blocks, the Department of Energy said.