ACEN inks power purchase deal for 43MW

The Ayala Group’s energy platform, ACEN Corp. will source 43 megawatts of power supply from GNPower Dinginin Ltd. Co. (GNPD), which owns the 1,336 megawatt coal-fired power plant in Mariveles, Bataan.

ACEN disclosed that it had entered into an agreement with GNPD for the supply of 43 MW of capacity.

GNPD is a joint venture among Aboitiz Power Corp, Power Partners Ltd. Co., and AC Energy and Infrastructure Corp. (ACEIC).

ACEIC, which has a 62.43 percent ownership in ACEN, has an effective 20 percenr economic interest in GNPD.

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.