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BSP sees moderate rate of rise in consumer prices

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The acceleration in the rate of rise in consumer prices may be moderated in the coming months due to legal issues that have resulted in further delays in the implementation of power rate hikes in Metro Manila.

Posted: February 26th, 2014 in Headlines | Read More »

Gov’t puts off LRT, MRT fare hikes anew

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FILE PHOTO

A long-delayed plan to hike fares at Metro Manila’s elevated railways would be delayed further as the transportation department has put on hold any increase while waiting for the outcome of a Supreme Court case over the power rate hike by distributor Manila Electric Co., a senior government official said on Wednesday.

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

Biz Buzz: Flying in or out?

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One of the scions of “Kapitan” Lucio Tan has teamed up with partners to hatch a deal to take over the majority stake in flag carrier Philippine Airlines that the family intends to unload, according to the grapevine. There are two theories seen behind such a potential move: 1. The scion wants to keep and run the aviation business even as his old man wants out; 2. The scion is engineering a deal to trigger San Miguel group’s right of first refusal on the family’s remaining 51-percent stake in PAL. With regards to #2 scenario, rumored asking price is $1 billion.

Posted: January 15th, 2014 in Headlines | Read More »

What’s appropriate WESM cap?

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AFP FILE PHOTO

The Philippine Electricity Market Corp. (PEMC) announced Monday it would complete this month a study on the “appropriate” price cap in the Wholesale Electricity Spot Market (WESM).

Posted: January 14th, 2014 in Latest Business Stories | Read More »

BSP may cut inflation forecast for this year

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Inflation forecasts for the next 24 months may have to be revised downward following delays and the possible prohibition of power rate increases in Metro Manila amid speculation of collusion among energy producers.

Posted: January 14th, 2014 in Headlines | Read More »

Meralco bills to go up in April

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FILE PHOTO

Customers of Manila Electric Co., the country’s biggest power distributor, can expect their electricity bills to go up by 27 centavos per kilowatt-hour this month due to increases in the generation, transmission and other charges.

Posted: April 10th, 2013 in Latest Business Stories | Read More »

Higher electricity rates in March seen

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psalm

Power consumers should brace for higher electricity rates, starting March, as the Energy Regulatory Commission has allowed the state-run Power Sector Assets and Liabilities Management Corp. (PSALM) to collect P53.58 billion worth of so-called stranded contract costs.

Posted: February 20th, 2013 in Latest Business Stories | Read More »

Power rate hikes seen as Napocor seeks recovery of subsidy funds

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Power consumers will have to brace for further hikes in their electricity bills if the state-run National Power Corp. is allowed to recover money used as higher yearly subsidies worth a total of P87 billion between now and 2016.

Posted: July 3rd, 2012 in Latest Business Stories | Read More »

Power rate hikes in May as Napocor jacks up generation charge

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Power consumers should brace for higher electricity rates starting May, after the state-run National Power Corp. was allowed by a regulator to jack up its generation charge in Luzon by 69.04 centavos per kilowatt-hour (kWh), Visayas by 60.60 centavos per kWh and Mindanao, by 4.42 centavos per kWh.

Posted: March 28th, 2012 in Latest Business Stories | Read More »

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