WESM prices down in August

Intermittent rains and the imposition of varying levels of quarantine restrictions across the country pulled down prices at the wholesale electricity spot market this month, the Independent Electricity Market Operator of the Philippines said......»»

Category: financeSource: philstar philstarAug 21st, 2021

Meralco rate seen flat in August billing

The customers of Manila Electric Company (Meralco) can rest easy in this month’s billing cycle as the utility firm is anticipating that its all-inclusive pass-on rate will be flattish or there could even be a slight reduction depending on the final billing of its power suppliers. “The overall rate movement looks to be flattish due to improved power situation for the July supply month,” Meralco Spokesman Joe Zaldarriaga has noted. The other factors that could potentially pull down electricity tariffs this month would be the strengthening value of the Philippine peso versus the US dollar; as well as the quarterly repricing of Malampaya natural gas prices. Meralco procures significant portfolio of its supply from power plants fueled by gas from the Malampaya field – hence, the quarterly reckoning of the gas price could have a softening impact on its pass-on cost to the consumers. Zaldarriaga qualified “there is a possibility for a minimal decrease in overall power rates and generation charge because of these factors.” On the supply situation, the Meralco executive noted “there were no yellow alerts in July; and power supply was more stable compared to June – with lower demand in the grid as well.” He indicated that the steady state of power supply in Luzon last month “may contribute to lower WESM (Wholesale Electricity Spot Market) prices and a decrease in generation charge.” And if the impact of the quarterly repricing of the Malampaya gas will be factored in, plus the reinforced value of the local currency, such elements could contribute to the overall lowering of the generation charge for the August billing. The generation charge accounts for roughly 55 to 60-percent of the overall pass-on cost in the electric bills, hence, a downtrend in that cost component could be substantially felt by consumers. Meralco’s electricity rates had been on declining drift in the past months –and this was precipitated by lower generation charge due to slowdown in demand; in addition to the company’s efforts on invoking force majeure claims with its supplier-companies; that in turn had resulted in lower rates for its customers.This year’s plague of the coronavirus pandemic had shifted consumption upswing on to residential end-users; hence, the rate reductions in the past months had been a valuable help in managing power budgets......»»

Category: sportsSource:  abscbnRelated NewsAug 3rd, 2020

DTI halts SRP increases in goods

The government has deferred the impending hike on suggested retail prices (SRP) of some basic necessities as the country faces another strict shift of quarantine protocols in the first half of August amid the surge in coronavirus cases......»»

Category: newsSource:  thestandardRelated NewsAug 2nd, 2021

ERC tightens pre-emptive measures vs surge in spot electricity prices

Energy regulators are tightening their policy to prevent excessive increase in prices of power sold in the Whole Electricity Spot Market (WESM) that could be passed on to consumers......»»

Category: financeSource:  philstarRelated NewsJun 30th, 2021

WESM sees power rates declining until January next year

Prices at the Wholesale Electricity Spot Market, the country’s trading floor of electricity, are expected to continue their downtrend until January, executives said Wednesday......»»

Category: financeSource:  thestandardRelated NewsDec 17th, 2020

Power spot market price spike anomaly?

An unexpected surge of electricity prices brought about by high charges in the Wholesale Electricity Spot Market (WESM), has resulted in increased generation charges. This prompted consumer advocacy group CitizenWatch Philippines—where I am convenor—to ask the Energy Regulatory Commission for an investigation. Specifically, we asked the ERC for a probe on these spot market price spikes during the lockdown months. No “yellow” alerts, or public warnings on thinning power supply, were issued......»»

Category: newsSource:  thestandardRelated NewsOct 26th, 2020

Inflation rate slowed down slightly to 2.3% in September

Inflation rate in September decelerated to a four-month low of 2.3 percent from 2.4 percent in August, pulled down by slower increases in the prices of food and non-alcoholic beverages despite the lingering impact of the COVID-19 pandemic, the Philippine Statistics Authority said Tuesday......»»

Category: financeSource:  thestandardRelated NewsOct 6th, 2020

Factory gate prices drop faster in August

Factory gate prices declined at a faster pace in August, when Metro Manila and other areas were placed under a strict community quarantine anew, according to the Philippine Statistics Authority......»»

Category: financeSource:  philstarRelated NewsOct 2nd, 2020

Meralco rates lower by P0.0623/kwh in Sept. billing

Consumers of Manila Electric Company (Meralco) will benefit from a slight reduction of P0.0623 per kilowatt hour (kwh) in this September billing — summing up five straight months of tariff downtrends for this year. (MANILA BULLETIN) For end-users in the consumption threshold of 200 kilowatt hours (kwh), the average cost savings they will gain in this billing period will be P12, according to the utility firm. The overall rate billed this month is at P8.4288 per kwh versus the previous month’s P8.4911 per kwh. The generation charge, which accounts for the chunk of the cost components being passed on, had been pared by P0.0381 per kwh this month to P4.0860 per kwh from the previous billing cycle’s P4.1241 per kwh. Additionally, the transmission charge was on marginal decline of P0.0112 per kwh and that was mainly attributed to the lower ancillary services (AS) charges of the National Grid Corporation of the Philippines; while taxes and other charges incurred a net decrease of P0.0130 per kwh. Meralco emphasized one key factor that triggered rate reduction this September is its continuing move to invoke force majeure (FM) claims with its power suppliers. “This September, the force majeure claim totaled about P463 million, equivalent to customer savings of P0.1710 per kwh in the generation charge,” the utility firm noted. The company explained that if the FM claims had not been there, “the generation charge and the total rate would have increased by P0.13 and P0.14 per kwh, respectively.” Since March this year when Meralco has been persistently invoking FM claims under its power supply deals, the company was already able to generate P2.4 billion worth of savings that it has been passing on as rate reduction to customers via their electric bills. On supply procurement, Meralco indicated that it secured the lion’s share of 54.8-percent from its power supply agreements (PSAs) and that resulted in a decrease of P0.3032 per kwh on its charges. The fraction of supply sourced from its contracted independent power producers (IPPs) had been at 33.6-percent; and this went up by P0.0601 per kwh; while volume procured from the Wholesale Electricity Spot Market (WESM) stood at 11.6-percent and charges had been down by P0.0147 per kwh.The lower settlement prices in the spot market, it was noted, had been due to decrease in Luzon demand — given the re-enforcement of modified enhanced community quarantine (MECQ) in some areas last month, primarily in Metro Manila and neighboring provinces......»»

Category: newsSource: NewsSep 9th, 2020

Late buying pushes share prices higher

Stocks ended slightly higher yesterday as last-minute buyers loaded their portfolio with oversold blue chips, encouraged by the tame inflation figure for August......»»

Category: financeSource:  philstarRelated NewsSep 5th, 2020

Inflation eases to 2.4% in August

Consumer prices grew at a slower pace in August as the cost of food increased moderately during the period, the Philippine Statistics Authority said......»»

Category: financeSource:  philstarRelated NewsSep 5th, 2020

August inflation rate eased to 2.4% on lower food prices

Inflation rate in August slowed to a three-month low of 2.4 percent from 2.7 percent in July on lower prices of food and non-alcoholic beverages, the Philippine Statistics Authority said Friday......»»

Category: sportsSource:  abscbnRelated NewsSep 4th, 2020

BSP says August inflation likely rose to as high as 3.3%

The Bangko Sentral ng Pilipinas said inflation in August likely picked up to as high as 3.3 percent from 2.7 percent in July on the back of higher fuel prices......»»

Category: financeSource:  thestandardRelated NewsAug 28th, 2020

Lawmakers relieved over decision to postpone classes; chides DepEd on unpreparedness

Lawmakers heaved a sigh of relief over the decision of government to postpone the resumption of classes from August 24 to October 5, saying that this exposed the Department of Education’s unpreparedness in pushing for the original schedule for opening schools. House of Representatives (ALVIN KASIBAN / MANILA BULLETIN / FILE PHOTO) This developed as Quezon City Rep. Precious Hipolito Castelo called on government to remove taxes imposed on computers, mobile phones and other gadgets that would be used by students and teachers in virtual and blended learning. “Removing taxes will considerably reduce the cost of these devices and gadgets, and make them affordable to poor learners and teachers,” she said. ACT Teachers Partylist Rep. France Castro said as a result of the postponement, the DepEd must now take advantage of the additional time to implement health and safety guidelines for teachers, non-teaching personnel, students and their families. On the other hand, Kabataan Partylist Rep. Sarah Jane Elago chided DepEd for refusing to accept suggestions about its original plan for class resumption, saying that the decision to move it to October 5 indicated an admission on the part of the department that it was not prepared to open on August 24. “Maaga pa lang  dapat ay naging bukas na ang DepEd sa rekomendasyon nito keysa itinanggi pa ang mga hinaharap na suliranin ng mga guro at kawani sa paghahanda para sa blended distance learning (DepEd should have been open to suggestions early instead of refusing to admit the problems facing teachers and staff in preparing for blended distance learning),” said Elago.    Castro urged DepEd to provide adequate funds for the procurement of personal protective equipment and finance the transportation expenses of teachers and non-teaching personnel as part of the preparations for the October 5 opening. “The Department of Education must use this time to comprehensively study and implement concrete plans for the safe and quality reopening of schools that will be accessible to every child,” said the teachers representative. Meanwhile, Castelo said the problem in virtual learning that is facing teachers and students may be addressed if government steps in to reduce the cost of much-needed computer and communications gadget. Earlier, Cavite Rep. Abraham “Bambol” Tolentino urged the Department of Trade and Industry and the Department of Information and Communications Technology to take action against the overpricing of gadgets. Tolentino, chairman of the House Committee on Accounts,  noted that as a result of the high demand for computers and communications gadgets, unscrupulous traders have made the prices of units for sale very restrictive to ordinary students and parents......»»

Category: sportsSource:  abscbnRelated NewsAug 15th, 2020

Face shield prices double, supply shortage noted

Prices of face shields have doubled with about five days left before government orders their mandatory use for all passengers in public transportation starting August 15......»»

Category: newsSource:  thestandardRelated NewsAug 11th, 2020

Meralco rates dip for fourth straight month in August

Manila Electric Co. said power rates fell P0.2055 per kilowatt-hour in August to P8.4911 per kWh from P8.6966 per kWh due in July on lower spot market prices and the repricing of natural gas......»»

Category: sportsSource:  abscbnRelated NewsAug 10th, 2020

WESM prices up in June

Wholesale electricity spot market prices rose last month as demand picked up after nearly three months of lockdown coupled with forced outages of power plants, according to the Independent Electricity Market Operator of the Philippines Inc.......»»

Category: financeSource:  philstarRelated NewsJul 6th, 2020

China reports progress in swine fever vaccine trials

A vaccine developed in China for African swine fever, which devastated the country’s pig herd and caused pork prices to soar, is progressing smoothly, according to results reported on Wednesday. The widespread outbreak of swine fever since August 2018 has disrupted the supply of pork in China, where it is a staple meat, with millions […] The post China reports progress in swine fever vaccine trials appeared first on Daily Tribune......»»

Category: newsSource:  tribuneRelated NewsJun 11th, 2020

Fair and square

Before the COVID-19 lockdowns, the Department of Energy (DoE) was expecting a very tight power supply situation in 2020. Concurring with this projection, just this January, the Independent Electricity Market Operator of the Philippines Inc. (IEMOP), operator of the Wholesale Electricity Spot Market (WESM), expected rising prices because of the increasing consumer demand, worsened by delays in the building of new power generation sources. At best, new power plants were expected to go online in 2021-2022, that is before the lockdowns happened......»»

Category: newsSource:  thestandardRelated NewsJun 8th, 2020

Quezon City jabbed 493K during ECQ

Quezon City reported administering 493,000 vaccines to its residents and workers during the implementation of the stricter enhanced community quarantine (ECQ) from 6 to 20 August this year. Of the number, 415,823 served as first doses while the remaining 77,077 were administered as second doses in the A1 to A5 priority groups under the QC […].....»»

Category: newsSource:  tribuneRelated NewsAug 22nd, 2021

Legacies and lessons for the next government

It’s been 38 years since that fateful day on August 21, 1983, when Senator Benigno “Ninoy” Aquino Jr. was assassinated by his military captors at the tarmac of what was then the Manila International Airport. This tragic moment in history awakened the nation in what was globally branded as the peaceful “People Power” revolution that toppled the Marcos dictatorship. .....»»

Category: sportsSource:  abscbnRelated NewsAug 22nd, 2021