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‘Problematic power generation doubled electricity cost’
From P6 to P7 per kilowatt-hour, the cost of electricity has doubled to P11 per kwh due to problematic power generation, according to Sen. Sherwin Gatchalian......»»
Power grid operator NGCP billed P2.4B worth of CSR, PR expenses to consumers
At least 9 percent of what Filipinos pay for electricity goes to transmission charges. This means that for every P100 spent on the electricity bill, P9 goes to the NGCP......»»
Earth Hour electricity savings reached 132.11 megawatts – DOE
Electricity savings from last Saturday’s Earth Hour increased by 110.73 percent to 132.11 megawatts from last year’s savings of 62.69 MW, according to the Department of Energy......»»
UP, PhilSA to help identify areas without electricity
The University of the Philippines will use satellites built by engineers and scientists of the UP Electrical and Electronics Engineering Institute to help the National Electrification Administration (NEA) identify areas in the country that remain without electricity......»»
Residential electricity rates up by P0.19/kWh for Jan-Feb billing
Residential electricity rates up by P0.19/kWh for Jan-Feb billing.....»»
ERC OKs limited use of LNG for Meralco, FGEN
The Energy Regulatory Commission has allowed First Gas Power Corp. and FPG Corp. to use liquefied natural gas as an alternative fuel supply source for the Sta. Rita and San Lorenzo gas plants “in the case of the occurrence of a fuel supply force majeure event.”.....»»
Respect
The claim of the Department of Energy that NGCP refuses to recognize their authority to regulate the grid operator reflects badly on the government’s ability to govern. Unfortunately, it seems that DOE has left it at that and is just hoping ERC will pick up the slack......»»
BSP keeps policy rate at 6.5%
In the MB’s first policy rate meeting in 2024, the MB held steady at a 6.5% benchmark interest rate as the country’s inflation risks continued to lean on the upside. .....»»
Philippines jobless rate drops to decades-low in December 2023
MANILA, Feb. 7 (Xinhua) -- The unemployment rate in the Philippines decreased to 3.1 percent in December 2023, the lowest since 2005, the Philippine Statistics Authority (PSA) said on Wednesday. "The full-year unemployment rate for 2023 was 4.3 percent compared to 5.4 percent in 2022," PSA head Dennis Mapa said at a press conference. Mapa said about 1.60 million were jobless in December last year. "This w.....»»
BSP Governor Eyes Potential Rate Cut as Inflation Eases
In a recent interview, Bangko Sentral ng Pilipinas (BSP) Governor Eli Remolona Jr. hinted at a potential rate cut later this year, signaling optimism amid the nation’s economic landscape. While cautious about the first semester, Remolona remains watchful, stating that the move could come “within the year.” The BSP, responding to escalating inflation, had hiked […].....»»
India s $1 pill could be key to curing cancer - report
Researchers at the TATA Institute have developed a medicine that could prevent the recurrence of cancer and reduce the side effects of treatment by 50% The TATA Institute in Mumbai has developed a pill that could prevent the recurrence of cancer and reduce the side effects of treatment by 50%, the Economic Tim.....»»
MAV suspension could lead to higher pork prices – importers
Meat importers have warned that pork prices could rise if the government would not immediately resolve the issues surrounding the minimum access volume (MAV) as import arrivals could be delayed......»»
MPTC prefers term extension over toll hike
To recover investments on toll road improvements, Metro Pacific Tollways Corp. is leaning toward getting its concession agreements expanded instead of burdening motorists with rate hikes......»»
Remolona sees 5.9 percent GDP this year
The Philippine economy is likely to grow at a faster pace this year, but it would still be below the government’s goal of six to seven percent as rate hikes continue to constrict demand, Bangko Sentral ng Pilipinas Governor Eli Remolona Jr. said......»»
Meralco cuts power rates in April
The Manila Electric Company will slash power rates in April, ending three consecutive months of rate hikes since the first quarter of 2024. .....»»
NCR retail prices rise at slowest pace in nearly 2 years
Retail prices of goods in Metro Manila in January posted its lowest growth rate in nearly two years due mainly to slower food price hikes, according to the Philippine Statistics Authority......»»
BSP chief: GDP grew at faster pace in Q4
Philippine economic growth picked up further in the final quarter of last year despite the aggressive rate hikes delivered by the central bank, Bangko Sentral ng Pilipinas Governor Eli Remolona Jr. said......»»
Nearly 50,000 UK businesses on verge of collapse - report
Construction and real estate are among the hardest hit sectors, researchers say The number of UK businesses on the brink of bankruptcy skyrocketed by more than a quarter at the end of last year amid a "debt storm" triggered by a series of interest rate hikes, a report from a group of insolvency specialists re.....»»
Government hikes borrowings to P2.57 trillion for this year
The Philippines raised its 2024 borrowing program by four percent to P2.57 trillion, which could make fiscal consolidation more challenging for the government......»»
Singapore bank hikes Philippines inflation forecast
DBS Bank Ltd. of Singapore raised its inflation forecast for the Philippines this year to 3.7 percent from 3.3 percent previously, a development which could prompt the Bangko Sentral ng Pilipinas (BSP) to keep rates higher for longer......»»