Tomas Alcantara’s ACR keeps growing: Profit rises 12% in January to September

Alsons Consolidated Resources Inc. (ACR), led by the family of bilyonaryo Tomas Alcantara, reported a 12 percent rise in net earnings to P504.6 million for the first three quarters on the back of higher revenues.

ACR’s revenues rose eight percent to P10 billion. As a key player in Mindanao’s energy market, ACR operates the 210-megawatt Sarangani Energy Corporation (SEC) baseload power plant.

In addition, ACR contributes to grid stability in the Western Mindanao Region through its 100 MW Western Mindanao Power Corporation (WMPC) diesel plant in Zamboanga City and the 103 MW Mapalad Power Corporation (MPC) diesel plant in Iligan City, supplying ancillary services to the National Grid Corporation of the Philippines.

With a focus on the growing renewable market, ACR is actively expanding its renewable energy (RE) capacity.

The company is on track to complete the 14.5 MW Siguil hydro power plant by the end of the year and is developing a combined hydro and solar power project in Zamboanga del Norte with a potential capacity of up to 37.8 MW.

Additionally, ACR is entering the Visayas energy market with a hydro power project in the Bago River in Negros Occidental, aiming for a planned capacity of up to 42 MW.

At a recent energy and business summit in Mindanao, ACR committed to balancing its traditional and renewable energy portfolio to align with company goals, sustainability objectives, and environmental aspirations.

The company’s current portfolio includes four power facilities with a combined capacity of 468 MW, serving over eight million people in 14 cities and 11 provinces on the country’s second-largest island.

Advocacy group calls out ERC on Meralco’s rate extension

The National Association of Electricity Consumers for Reforms Inc. (Nasecore) has criticized the Energy Regulatory Commission for permitting bilyonaryo Manny Pangilinan-led Manila Electric Company to charge consumers the provisional interim average rate of P1.3810 per kilowatt hour from July 2016 to the present.