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Cost-recovery provisions for affected gencos urged

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AFP FILE PHOTO

Amid proposed additional price controls at the Wholesale Electricity Spot Market (WESM) by state regulators, SMC Global Power Holdings Corp. is pressing for cost-recovery provisions for generation companies (gencos) whose operations will be affected by the scheme.

Posted: April 24th, 2014 in Latest Business Stories | Read More »

SC stops Meralco power rate hike anew

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AFP FILE PHOTO

The Supreme Court, sitting en banc on Tuesday, issued a new temporary restraining order that prevented Manila Electric Co. (Meralco) from collecting increased power charges, h ours before the 60-day TRO that it issued in February lapsed.

Posted: April 23rd, 2014 in Latest Business Stories | Read More »

TRO vs Meralco rate hike expires Tuesday

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AFP FILE PHOTO

The Manila Electric Co. (Meralco) has expressed optimism that issues on the recent electricity rate hikes will soon be resolved even as the Supreme Court’s temporary restraining order (TRO) on the controversial power rate hike last December 2013 expires Tuesday.

Posted: April 22nd, 2014 in Latest Business Stories | Read More »

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 »

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