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Longer TRO sought on rate hike

AFP FILE PHOTO

The militant party-list bloc in the House of Representatives on Tuesday asked the Supreme Court to extend indefinitely the 60-day temporary restraining order (TRO) it had issued which stopped the Manila Electric Co. (Meralco) and the power-generating companies (gencos) from collecting the P4.15 kilowatt-hour increase in the generation charge.

Posted: April 16th, 2014 in Latest Business Stories | Read More »

Meralco fetes Pagcor chief

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PAGCOR Chairman and CEO Cristino L. Naguiat, Jr. (middle) receives the 2013 Special Luminary Award from Meralco CEO Oscar S. Reyes (left) during the “Luminaries Awards Night” held at the Makati Shangri-la Hotel last April 2, 2014. Looking on is Al Panlilio, Meralco’s Senior VP and Head of Customer Retail Services and Corporate Marketing Communication. Chairman Naguiat was accorded the Special Luminary Award in recognition of his efforts to promote the Philippines as the next international destination for gaming, entertainment and tourism through the Entertainment City project. PHOTO courtesy of PAGCOR

The head of the Philippine Amusement and Gaming Corporation (Pagcor) has been recognized for his efforts to promote the Philippines as the next international destination for gaming, entertainment and tourism through the Entertainment City project.

Posted: April 7th, 2014 in Latest Business Stories,Photos & Videos | Read More »

Meralco bills up this month until July

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INQUIRER.net FILE PHOTO

Customers of Manila Electric Co. (Meralco) should brace for higher electricity bills starting this month up to July this year, as the expected increase in power consumption during the hot summer months puts pressure on power rates.

Posted: April 5th, 2014 in Latest Business Stories | Read More »

Meralco seals supply deals to meet rise in demand

Manila Electric Co., the country’s biggest distribution utility, has signed electricity supply agreements with three power-generation companies to enable it to meet an expected surge in power demand this summer.

Posted: April 3rd, 2014 in Headlines | Read More »

Gokongwei, Nazareno join Meralco board of directors

John L. Gokongwei Jr. (left), Napoleon L. Nazareno: New Meralco directors. INQUIRER FILE PHOTOS

John L. Gokongwei Jr. and Napoleon L. Nazareno have joined the 11-seat board of directors of Manila Electric Co., following the sale of the San Miguel group’s stake in the power distributor last year.

Posted: April 2nd, 2014 in Latest Business Stories | Read More »

For DOE exec, Meralco deal could have been better

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INQUIRER.net FILE PHOTO

Manila Electric Co. (Meralco) did well when it decided to stagger its deferred rate hike in January over six months, but for Energy Secretary Carlos Jericho Petilla, it would have been better had the power distributor decided on a longer implementation period.

Posted: March 28th, 2014 in Latest Business Stories | Read More »

Meralco seeks staggered January rate hike

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AFP FILE PHOTO

The Manila Electric Co. (Meralco) has asked the Energy Regulatory Commission to approve its plan to stagger the deferred power rate increase in January over six months.

Posted: March 25th, 2014 in Latest Business Stories | Read More »

Meralco cuts Jan. rate hike by 90%

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AFP FILE PHOTO

The Manila Electric Co. (Meralco) has reduced its proposed power rate increase for January to about a tenth of the original, following a recalculation ordered by the Energy Regulatory Board of the unusually high electricity spot market rates late last year.

Posted: March 21st, 2014 in Latest Business Stories | Read More »

Meralco reports P17-B net income in 2013

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AFP FILE PHOTO

The Manila Electric Co. said Monday it realized a consolidated net income of P17.023 billion last year, up five percent from P16.265 billion from the previous year, excluding one-off gains.

Posted: March 17th, 2014 in Latest Business Stories | Read More »

Voiding power rate hike won’t stop DOJ probe

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AFP FILE PHOTO

Despite the decision of the Energy Regulatory Commission (ERC) to void the electricity price hike in the fourth quarter last year, the Department of Justice on Friday said it would continue its investigation into the alleged price manipulation and anticompetitive behavior of power companies.

Posted: March 16th, 2014 in Latest Business Stories | Read More »

Meralco ready to refund excess charges

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Protesters wear masks as they hold a rally at the Philippine Supreme Court to coincide with the oral arguments on the power rates hike petition of Meralco, the country's largest electric power distributor, Tuesday, Jan. 21, 2014 in Manila.  AP FILE PHOTO

MANILA Electric Co. (Meralco) yesterday said it would refund any excess amount should an order from the Energy Regulatory Commission (ERC) to recalculate electricity spot market prices cut the generation cost and other pass-on charges that it had collected from its 5.3 million customers.

Posted: March 13th, 2014 in Headlines | Read More »

Meralco bills in March to go down

By
INQUIRER.net FILE PHOTO

Electricity consumers within the Manila Electric Company (Meralco) franchise area will see a reduction of 45 centavos per kilowatt-hour (kWh) in their March rates on lower power generation cost and related charges.

Posted: March 10th, 2014 in Latest Business Stories | Read More »

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