91% of banks in Southeast Asia still fund fossil fuel – WWF study
MANILA, Philippines — In the face of existential threats from climate change and environmental degradation, the majority of banks in Southeast Asia continue to finance new coal-fired power plants. This was the finding of the World Wide Fund for Nature (WWF), which 2019 Sustainable Banking Assessment (SUSBA) showed 91 percent of the banks in the […]
Medco looks for strategic investors to support power plant development
Publicly listed energy company PT Medco Energi Internasional plans to sell shares of its subsidiary PT Medco Power Indonesia (MPI) as a part of its strategy to reorganize its portfolio and strengthen power plant development. Medco Energi chief planning and financial officer Anthony R. Mathias said on Monday that his company had appointed US-based investment bank JP Morgan Chase […]
Ayala unit advancing plans to build new energy capacity
AYALA-LED AC Energy, Inc. has advanced by a year its plan to build new energy capacity in the Philippines as it expects energy supply and demand in the country to reach equilibrium by 2021, or earlier than its previous forecast of 2022. “There will be equilibrium in 2021, one year earlier than what we originally […]
Thailand to use smart grid to predict outages
One of Thailand’s major utilities plans to use data from a smart grid and smart meters to track and predict electricity outages in the future. An Inspector (ICT) from the Metropolitan Electricity Authority stated that the Government aims want to use smart grid technology to improve the distribution of power to customers. The region has smart meters […]
The push for adopting Hydrogen-Fuel Cell Vehicles in Singapore
As Singapore seeks to move away from its dependence on gas towards renewable energy sources like solar, the transport sector is similarly undergoing the same shift towards alternative fuel sources. Alongside the increasing electrification in the transport sector, there has been renewed interest in the use of Hydrogen fuel cells vehicles, a move which may […]
DOE to continue offering oil, gas prospects under PCECP Read more at https://www.philstar.com/business/2019/08/20/1944780/doe-continue-offering-oil-gas-prospects-under-pcecp#lJ0vpviYKomcy5mg.99
MANILA, Philippines — The Department of Energy (DOE) intends to continue offering oil and gas prospects under its Philippine Conventional Energy Contracting Program (PCECP) after it received bids for only four out of 14 pre-determined areas (PDAs) amid challenges in the country’s upstream sector. During the opening of bids yesterday, the DOE received an application […]
Cusi orders Napocor to stop rate hike in off-grid islands
MANILA, Philippines — Energy Secretary Alfonso Cusi has ordered the National Power Corp. (Napocor) to stop its plan to raise generation charges in missionary and off-grid islands of the country by passing on to consumers the taxes and added fuel costs. Cusi said Napocor should instead find ways to reduce missionary subsidies by improving operational […]
Indonesia Plans to Cut Energy Subsidies by 3.4% Next Year
Jakarta. The government has proposed cutting energy subsidies by 3.4 percent in next year’s state budget, as it is confident that effective targeting measures would ensure that the benefits only reach those most in need. It plans to spend Rp 137.5 trillion ($9.7 billion) on energy subsidies in 2020, compared with the Rp 142.6 trillion earmarked in […]
