EDC to supply Monde with renewable energy

Consumer giant Monde Nissin Corp. (MNC) has tapped First Gen Corp. subsidiary Energy Development Corp. (EDC) to supply clean power for a period of five years as part of its sustainability commitment.

The group, composed of Monde Nissin Corp., Monde M.Y. San Corp., and Sarimonde Foods Corp., signed up for close to 16 megawatts (MW) of clean power for its nine facilities in the Philippines to lower its operations’ carbon footprint.

The supply agreement was finalized in 2021 and commenced for five of its facilities last month.

Two other facilities will start getting their power supply in December this year and two more next year.

MNC recognizes the role it plays in the well-being not only of its consumers but also of the planet. It is committed to manufacturing food products and making them with the least carbon dioxide (CO2) emissions.

It expects to cut in half – or by as much as 100,000 tons per year – its annual carbon dioxide emission.

Clean power will come from EDC’s Unified Leyte geothermal power plant complex, one of the company’s largest facilities.

ERC to look into complaints of overcharging by power firms

Numerous complaints on increasing electricity rates have prompted the Energy Regulatory Commission (ERC) to launch an investigation on the accuracy and reasonableness of the generation rates being passed on by distribution utilities (DUs) to its consumers.

Synergy Grid declares P1.37B cash dividends

Synergy Grid and Development Philippines of bilyonaryos Big Boy Sy and Robert Coyiuto is set to reward its shareholders with a cash dividend similar to the amount given the past two quarters.