APRI terminates power supply contract with Abreco
January 23, 2013
AP Renewables Inc. (APRI) issued a notice of termination of contract with Abra Electric Cooperative (Abreco), citing the cooperative’s repeated failure to settle its obligations and follow on its commitments. In a letter dated January 10, 2013, APRI stated that the termination of the power supply contract is effective immediately. The final disconnection is scheduled at 12 noon, January 24, 2013.
Abreco disconnection postponed
December 27, 2012
The supposed disconnection of the Abra Electric Cooperative (Abreco), originally scheduled at 12 noon, December 27, 2012, has been postponed until further notice to allow the cooperative more time to fully comply with its all of its obligations.
AP Renewables, Inc. issues fifth disconnection notice to Abreco
December 21, 2012
AP Renewables Inc. (APRI) issued a fifth disconnection notice to Abra Electric Cooperative (Abreco) dated December 17 after the cooperative failed yet again to fulfill its commitment to the power generation company. The disconnection is scheduled at 12 noon, December 27, 2012.
AP Renewables, Inc.'s official statement on the indefinite suspension of power deliveries to Abra Electric Cooperative
December 11, 2012
AP Renewables Inc. (APRI) announced the indefinite suspension of power deliveries to Abra Electric Cooperative (Abreco) due to the cooperative's unsettled financial obligations to the independent power producer effective 12:01 pm, December 10, 2012.
AboitizPower breaks ground for school building donation
October 31, 2012
The city of San Fernando, Pampanga and San Fernando Electric Light and Power Company (SFELAPCO), through the AboitizPower and the Abotiz Foundation Inc. have allocated P4.6 million for the construction of a two-story, four-classroom building for Malpitic Elementary School.
AEV income for the first 9 months up 12% to P18 bn
October 31, 2012
Manila, Phils. - Aboitiz Equity Ventures, Inc. (AEV) ended the first nine months of 2012 with a consolidated net income of P18 billion (bn), up by 12% year-on-year (YoY) from P16 bn. This translates to an earnings per share of P3.26. Among AEV’s strategic business units (SBUs), the power unit continued to account for the lion’s share of the company’s income, at 78%, followed by the banking and food units with income contributions of 17% and 5%, respectively.
AboitizPower reports P18.4-billion net income in 9 months
October 31, 2012
MANILA, Philippines--Aboitiz Power Corp. (PSE ticker symbol: AP) has recorded a net income of P18.4 billion (bn) for the first nine months of 2012. This is a 13% year-on-year (YoY) improvement, compared to the P16.2 bn gained during the same period in 2011.
AboitizPower's 70-MW hydroelectric plant back online
October 1, 2012
AboitizPower's (PSE ticker symbol: AP) wholly owned subsidiary Luzon Hydro Corp. (LHC) announced that it has resumed the operation of the 70-MW Bakun AC hydroelectric power plant in Alilem, Ilocos Sur.
Therma Marine, Inc. to refund NGCP
September 10, 2012
AboitizPower’s wholly owned subsidiary, Therma Marine, Inc. (TMI) announced that it will comply with the ruling of the Energy Regulatory Commission (ERC) dated August 14, 2012, which reduced the Capital Recovery Fee of Power Barge (PB) 117 and PB 118 in its Ancillary Service Purchase Agreement with the National Power Grid Corporation of the Philippines (NGCP).
AboitizPower donates a generator set to government troops in Mindanao
September 4, 2012
AboitizPower turned over on August 30, 2012 a 30-kVA generator set to the Philippine Marine Corps stationed in Sulu, to help the country’s troops fulfill their peace-building mission in the island.