Category: Philippines Daily Inquirer

The Energy Regulatory Commission (ERC) cleared Negros Electric Power Corp. of a reported breach of the allowable system loss limit after admitting it had wrongly labeled the company as noncompliant.

In a statement, ERC clarified that Negros Power only secured its franchise recently following its deal with the rural electric cooperative.

Negros Power, a joint venture company between Primelectric Holdings Inc. and Central Negros Electric Cooperative, serves over 220,000 active accounts across Bacolod, Bago, Talisay, Silay, Murcia, and Don Salvador Benedicto.

Because the transition period under its legislative franchise covers five years of operation, Negros Power still has leeway to exceed the 5.5 percent cap set for private utilities.

‘NEPC’s applicable cap for 2025 is therefore 8.50 percent (interim), not 5.50 percent,’ the ERC said

‘Against this interim cap, NEPC’s reported 2025 feeder loss of 7.5 percent is within, not in excess of, its applicable cap,’ the commission added.

ERC’s statement came after it presented at last week’s Senate committee on energy hearing, listing Negros Power among the distribution utilities that exceeded their feeder loss cap in 2025, with a feeder loss of 7.5 percent.

The government now targets to scrap system loss charges from consumers’ power bills

Pangasinan farmers and fisherfolk lost P508,190,000 to floods caused by tropical cyclones Luis and Maymay, as well as the southwest monsoon that brought tremendous amounts of rain to the province.

Provincial Agriculture Officer Dalisay Moya reported to the Sangguniang Panlalawigan that the rice sector incurred the biggest loss, with 9,859 hectares tilled by 11,700 farmers going underwater for weeks, resulting in the loss of 11,800 metric tons of crops worth P354.6 million.

For the corn sector, 301 hectares virtually drowned in floods, leaving a production loss of P17 million affecting 714 metric tons of crops.

Moya said vegetables and other high-value crops were not spared either, with 318 hectares farmed by 941 individuals garnering a production loss of 2,680 metric tons.

For the fishery sector, 780 fish farmers from 16 local governments were affected by the weather disturbances, with reported losses worth P37 million covering cultured fish, boats, and fishing gear.

Moya said the provincial agriculture office is closely coordinating with the Department of Agriculture for crop seeds to help the farmers, as the provincial government had no available buffer seed stock.

But not all may be lost for the farmers who availed of crop insurance from the Philippine Crop Insurance Office.

Provincial Board Member Jerry Agerico Rosario said if the 4,000 hectares affected can claim P20,000 insurance for every hectare, that would be P80 million worth of indemnity for them.

An Australian-backed battery manufacturer is exploring renewable energy and storage projects in New Clark City, which the government is positioning as an emerging hub for advanced technology and clean energy.

In a statement on Monday, the Bases Conversion and Development Authority (BCDA) said it signed a memorandum of understanding with StB GigaFactory Inc. to study renewable energy generation, battery energy storage systems and electric mobility solutions in New Clark City.

Under the 12-month agreement, StB GigaFactory will conduct site surveys, technical feasibility studies and financial modeling to assess whether clean energy technologies could be deployed across BCDA developments.

The BCDA, for its part, will provide access to potential sites, supply project data and extend administrative assistance for the studies.

‘Partnering with StB GigaFactory aligns directly with our vision to make New Clark City a model of sustainable, high-tech urban development,’ BCDA President and CEO Joshua Bingcang said in a statement.

‘By integrating cutting-edge energy storage and clean mobility solutions into our master plan, we are building a resilient infrastructure framework that empowers industries, protects the environment, and drives long-term economic growth,’ Bingcang added.

Expansion

Beyond New Clark City, the BCDA said the partnership would also explore how renewable energy, locally manufactured storage systems and electric mobility infrastructure could be integrated and scaled across its other developments.

The BCDA also manages Camp John Hay in Baguio, Bonifacio Global City in Taguig, Poro Point Freeport Zone in La Union and Morong Discovery Park in Bataan.

While the agreement with StB GigaFactory does not yet cover specific projects or investment commitments, the partnership could expand the company’s footprint in New Clark City, where it already operates a manufacturing facility at the Filinvest Innovation Park.

The company currently employs 500 Filipinos and plans to expand its workforce to 2,500 by 2030.

Its New Clark City facility is the Philippines’ first manufacturing plant for lithium iron phosphate battery cells and battery energy storage systems, according to the BCDA.

In 2023, Australian investment firm St Baker Energy Innovation Fund committed an initial $10 million to jump-start the battery manufacturing facility within the 120-hectare Filinvest Innovation Park-New Clark City in Tarlac.

The facility is targeted to reach a full production capacity of 1.2 gigawatt-hours by 2030.

The Youth for Health Coalition sounded the alarm over the the use vape products by young students, citing the adverse health effects.

The group’s convenor, Aliyah Mae Lozari, expressed the concern at the House of Representatives ways and means committee hearing on the Department of Finance’s (DOF) proposed unified P72.9 excise tax on cigarettes and vape products on Tuesday.

‘Labis na nakakabahala ang mabilis na pagkalat ng vape sa mga schools, lalo na’t naaakit nito ang mga kabataang madaling maimpluwensyahan ng kanilang mga kaibigan, kamag-aral at pati na ang social media,’ she told lawmakers.

(The fast spread of vapes in schools is alarming, especially since it entices the youth who are easily influenced by their friends, classmates and by social media.)

‘Ang tanong namin: ilang buhay pa kaya ang hihintayin natin bago natin aksyunan ang negatibong epektong ito ng vape sa mga kabataan?’ she added.

(We ask: How many more lives should be lost before we take action on the negative effects of vapes on children?)

Lozari said that based on their group’s observation, elementary and high school students are now able to buy vapes since more stores are set up near schools while some sellers are on social media platforms.

She also explained that some vape products are designed supposedly to cater to the youth with flavors and packaging akin to milk tea.

The Youth for Health Coalition convenor cited the potential electronic cigarette or vaping product use-associated lung injuries (EVALI) that may be sustained by users.

‘Bukod dito, ang paglaganap ng vape sa mga paaralan ay maaaring magresulta rin sa malaking productivity loss sa mga kabataan ngayon at sa hinaharap,’ Lozari explained.

(Apart from this, the proliferation of vapes in schools may also result in widespread productivity loss among the youth now and in the future.)

‘Dahil sa vape, maaaring maapektuhan ang aming konsentrasyon, kahusayan at sipag sa pag-aaral at sa iba naming pinagkakaabalahan,’ she added.

(Because of vapes, our concentration, our skill and our motivation in our studies and our other endeavors may be affected.)

Earlier in the hearing, DOF Fiscal Policy and Monitoring Undersecretary Karlo Fermin Adriano explained that the department sought to impose a P72.93 tax per milliliter (mL) of both salt nicotine and freebase nicotine.

Currently, freebase nicotine is taxed at P6.95 per mL and salt nicotine at P60.29 per mL.

‘Kung magkakaiba ang buwis na nakapataw dahil lamang magkaiba ang uri ng nicotine sa mga produktong ito, maaaring lumipat lamang ang mga consumer sa freebase nicotine dahil mas mura ito kumpara sa salt nicotine,’ Lozari said.

(If the tax imposed is different just because they’re different kinds of nicotine, consumers may just switch to freebase nicotine since it’s cheaper compared to salt nicotine.)

‘Higit pa dito, maaaring magsilbing unang hakbang ang vape tungo sa paggamit at pagkalulong ng mga kabataan sa tradisyonal na sigarilyo,’ she added.

(Vapes may serve as the youth’s gateway to using and being addicted to traditional cigarettes.)

At the same hearing, however, Minimal Government Thinkers researcher Bienvenido Oplas Jr. expressed opposition to having the same tax rate for tobacco products and vape products.

Oplas cited his own study which found that Indonesia, Canada, South Africa, Malaysia, Switzerland, the United Kingdom and New Zealand imposed different taxes on the two product types.

Also at the hearing, Philip Morris Fortune Tobacco Corporation lawyer Noel de Luna cited New Zealand’s practice.

‘New Zealand has a 100-percent tax differential because a part of their tobacco control policy is to wean people away from cigarettes to vapor products. That’s why they’re not taxing vapor products in New Zealand as of the moment,’ he said.

Aircraft giant Boeing is once again taking some of the Philippines’ most prized eagles under its wing, thanks to another $80,000 in funding.

That amount represents the American plane-maker’s latest commitment to the Philippine Eagle Foundation (PEF), an organization it has been partnering with since 2023, and would help bankroll the construction of new aviaries as well as conservation programs.

PEF executive director Dennis Salvador told Biz Buzz that part of the funding would go toward additional enclosures at the foundation’s natural breeding sanctuary at the foot of Mount Apo in Davao City.

A separate flight aviary will be built to train birds hatched at the sanctuary, Salvador said.

Another portion of the $80,000 will support initiatives under PEF’s conservation academy.

Salvador said that Boeing’s relationship with the foundation dates back to 2023, after company representatives encountered Philippine eagles in Singapore and expressed interest in supporting their conservation.

Boeing had adopted two Philippine eagles-Makisig and Hiraya-before expanding to support conservation work in the Philippines. Salvador said Boeing has provided funding every year since then and is now among the foundation’s biggest corporate supporters.

The latest commitment came after Boeing Southeast Asia president Travis Sullivan met with PEF officials on Aug. 19 to discuss follow-through programs.

As a company best known for helping people take to the skies, Boeing’s latest Philippine investment ensures the country’s national bird can keep doing the same. -Logan Kal-El M. Zapanta

Campaign donors, beware?

The general elections in the Philippines may still be about two years away, but potential campaign donors from the private sector are already taking serious note of the case involving Sen. Rodante Marcoleta.

To recall, the Office of the Ombudsman last June charged Marcoleta with plunder for over P75 million in undeclared contributions to his ultimately successful campaign for a Senate seat in 2025.

Marcoleta was also charged with three counts of violating Presidential Decree No. 46, which prohibits public officers from accepting gifts while in office.

Charged with him are former Quezon City congressman Mike Defensor and private campaign donors Joseph Espiritu and Aristotle Viray.

And this is where the concerns are coming from, as a number of potential donors-among them the country’s richest individuals and top executives-now fear that donating to an election campaign could get them embroiled in unexpected legal trouble.

Biz Buzz sources said the liability of private citizens cannot rest solely on their having dealt with a public official -even if they get accused of wrongdoing-especially if deeds of donation are signed and donor’s taxes are paid.

The current case, however, begs the question: Was this merely a campaign donation, or was it given as part of a corrupt scheme?

The answer cannot be presumed. It must ultimately be proven.

Even then, the potential trouble down the road may just be too much of a risk for well-meaning private donors.

Given that, will the Marcoleta case change the complexion of the 2028 campaign in that candidates may find it more difficult to get donations? Abangan! -Tina Arceo-Dumlao

Lim’s stressful SEC debut

Francis Lim has survived his first year as chair of the Securities and Exchange Commission (SEC). His verdict?

‘Both exciting and stressful,’ Lim told reporters when asked to sum up his first year at the corporate regulator.

The stress, he said, came partly from wanting to accelerate the transformation of the Philippine capital market. Not everyone welcomed the changes, either.

‘There’s a lot of positive comments about what we’ve done. Of course, as usual in a democracy, there’s always some resistance,’ Lim said.

Still, the SEC chair appears pleased with what his team has accomplished, crediting his fellow commissioners for helping push through the regulator’s reform agenda.

And it has been a busy first year.

The SEC imposed stricter processing timelines and a ‘deemed approved’ policy for applications not acted upon beyond prescribed periods.

It also slashed fees for corporate document requests, resulting in nearly P263 million in discounts as of July.

On the capital-market side, Lim’s first year saw the rollout of a five-year shelf registration framework, tiered minimum public ownership requirements, expanded rules for real estate investment trusts, Sukuk regulations and Southeast Asia’s first Green Equity Guidelines.

There is little sign the workload-or the stress-is easing.

Angel Reese broke the WNBA single-game rebounding record with 26 while also breaking the league’s season record for rebounds as the Atlanta Dream beat the Los Angeles Sparks 78-71 on Monday night.

Reese surpassed Chamique Holdsclaw’s record of 24 rebounds, set on May 23, 2003 for Washington.

The Dream star has 458 rebounds this season, seven more than A’ja Wilson’s mark set in 2024. Atlanta still has six games remaining in the regular season.

‘I’m just in awe watching her rebound,’ teammate Allisha Gray said after the game. ‘That’s a talent.’

Reese finished with 11 points. She secured her WNBA-leading 27th double-double of the season on a basket with 13.9 seconds left in the game.

The Dream have won four straight games – all on the road.

Gray led Atlanta (25-13) with 20 points. Rhyne Howard added 18 points to eclipse 3,000 for her career. Gray set an Atlanta record for field goals in a season with 247.

Nneka Ogwumike had 27 points and 16 rebounds for Los Angeles (13-25), which has lost nine straight games in the series. Dearica Hamby and Cameron Brink each scored 15 points.

Atlanta trailed 37-36 at halftime before starting the third quarter on a 9-2 run. The Dream also began the fourth on a 9-2 run to make it 71-57 with 6:57 left.

This is particularly relevant to millions of Filipino families whose finances are connected to overseas work. The Department of Migrant Workers recorded 1.58 million overseas Filipino workers and seafarers deployed as of June 2025, underscoring the scale of Filipinos whose livelihoods extend beyond the country.

For these families, managing money does not end when an OFW earns abroad. The value of that income can also depend on how it is converted into pesos and how much reaches the household. Changes in exchange rates can affect the amount received, making foreign exchange a practical consideration alongside saving, budgeting, and remittances.

Being financially prepared means understanding not only how much money is coming in and going out, but also how its value can change between currencies. For OFWs and their families, knowing how exchange rates work and making informed decisions about when and where to convert currency can help them get more value from money they have worked hard to earn.

‘Financial empowerment means giving Filipinos the knowledge and the right financial solutions to make better decisions at every stage of their financial journey. As more Filipinos earn and transact across borders, foreign exchange should become part of the conversation around managing money because it directly affects the value of their money,’ said Jean Henri Lhuillier, President and CEO of Cebuana Lhuillier.

Making those decisions is not always straightforward. Exchange rates move, currency needs differ, and the right choice can depend on whether money is being sent home, set aside for a trip, or used for an international transaction. This is where a trusted foreign exchange provider can make a difference.

As Xchange Xperts, Cebuana Lhuillier MoneyXchange offers access to foreign currencies, competitive exchange rates, and a nationwide network, making foreign exchange more accessible to Filipinos looking to make informed decisions about their money.

Adding to this convenience is Click and Collect, which allows customers to reserve their preferred foreign currency online and pick it up at a selected Cebuana Lhuillier branch. The service combines digital convenience with in-branch access, helping customers prepare their currency needs in advance.

The need extends beyond remittances. Filipinos traveling overseas also need to consider how much to convert, when to exchange pesos, and how currency movements can affect spending power. With 29.1 million international passengers passing through Philippine airports in 2025, foreign currency is becoming a familiar part of preparing for expenses abroad.

‘Foreign exchange can seem like a simple transaction, but for many Filipinos, it is connected to something much bigger, their livelihood, their family’s financial needs, their business, or their plans abroad. Our role is to make that decision easier to understand and more accessible so Filipinos can approach every currency exchange with greater confidence,’ said Philippe Andre Lhuillier, Senior Executive Vice President of Cebuana Lhuillier.

The bigger shift is in how Filipinos think about financial preparedness. Saving, budgeting, and investing remain essential. But for people whose financial lives increasingly cross borders, understanding the value of money in different currencies belongs in the same conversation.

Ultimately, smarter money management means seeing the full picture and understanding what can influence money’s value. For Filipinos earning overseas, supporting families through remittances, or preparing for a trip abroad, foreign exchange is another financial consideration to navigate wisely, with the right knowledge and an Xchange Xpert by their side.

Price pressures remain widespread enough to warrant another quarter-point rate hike from the Bangko Sentral ng Pilipinas (BSP) this week, according to Deutsche Bank.

In its latest note to clients, the bank said another rate hike to 5 percent was ‘necessary to further dampen the impact of price pressures on consumers and stabilize real incomes.’

The forecast is in line with the prediction of economists surveyed by the Inquirer, with 11 of 15 expecting the Monetary Board to deliver a quarter-point rate hike at its Aug. 27 meeting.

If realized, the move would extend the tightening cycle that began in April and bring cumulative rate increases to 75 basis points (bp).

Deutsche Bank’s call came as its price diffusion index showed that around 80 percent of items in the country’s consumer basket by weight were still experiencing above-trend inflation, despite the easing in headline inflation in recent months.

‘This suggests that inflationary pressure in the Philippines is still broad-based and that spillover effects are likely still working their way through the economy, in our view,’ Deutsche Bank said.

Headline inflation decelerated for the third straight month to 6.2 percent in July, from a peak of 7.2 percent in April.

Despite the slowdown, inflation remained well above the BSP’s 3-percent target range.

The elevated pace of price increases has also continued to erode consumers’ purchasing power.

As of July, the peso’s purchasing power had fallen to 74 centavos compared with P1 in 2018.

Deutsche Bank earlier said it expects Philippine inflation to average 5.4 percent by the end of the year, which is still beyond the tolerable target of the government.

Weakening economy

As it is, the BSP is also weighing the persistence of above-target inflation against a weakening economy, with Governor Eli Remolona Jr. signaling last week that the central bank would take a less aggressive approach to monetary tightening.

The economy grew by just 2.3 percent in the second quarter, its weakest expansion outside the pandemic period since late 2009.

Separately, Capital Economics also expects the BSP to raise its policy rate by a quarter point to 5 percent, but said the move could mark the end of the current tightening cycle amid weakening growth.

‘All told, we think policymakers will opt for a further 25bp hike next week to add to the 50bp of tightening delivered so far in this cycle,’ Capital Economics said.

‘But, so long as oil prices drop back as we expect, that is likely to mark the end of the tightening cycle as the BSP shifts its attention to supporting the economy,’ it added.

Higher borrowing costs are intended to curb spending by households and businesses, helping ease inflationary pressures but also weighing on economic activity.

The municipality of Abra de Ilog has been asked to declare a state of calamity after the southwest monsoon, intensified by successive weather disturbances, left an estimated P69.08 million in damage across the municipality.

The recommendation was contained in Municipal Disaster Risk Reduction and Management Council (MDRRMC) Resolution No. 2026-02, Series of 2026, dated Aug. 24.

Based on the consolidated damage assessment and needs analysis, the heaviest losses were recorded in agriculture, other infrastructure, water supply systems and damaged houses.

Agricultural damage was estimated at P27,895,722.70, while damage to other infrastructure reached P25,340,000. Water supply systems sustained an estimated P7,440,000 in damage, while damage to houses cost P8,400,000.

The resolution said the agricultural sector suffered substantial losses affecting crops, livestock, fisheries and agricultural infrastructure.

Infrastructure damage was reported in the barangays of Cabacao, Balao, San Vicente and Lumangbayan, including flood protection structures, flooding control structures and river protection works.

The municipality also reported that several municipal and barangay water supply systems sustained damage from erosion, scouring, flooding and other effects of the disaster, disrupting water service delivery in various barangays.

A total of 89 houses were reported damaged-45 partially and 44 totally.

The prolonged rains also caused significant displacement of families and individuals, damaged public infrastructure and temporarily rendered several roads and bridges inaccessible or impassable.

Under the resolution, the declaration of a state of calamity is expected to facilitate the implementation of necessary disaster response, relief, early recovery, rehabilitation and reconstruction measures.

Among the priority interventions identified are the provision of food and non-food assistance to affected families and vulnerable sectors; continued assistance to families with partially and totally damaged houses; restoration and rehabilitation of damaged water supply systems; repair of flood-control, flood-protection and other critical infrastructure; clearing and rehabilitation of roads affected by flooding, landslides and road cuts; and restoration of agricultural and fisheries livelihoods.

The MDRRMC also called for early recovery interventions, watershed and river management, and the development of more resilient infrastructure under the ‘Build Back Better’ approach.

The resolution said the municipality would pursue long-term recovery and strengthen its environmental management, disaster preparedness and climate adaptation measures following the widespread impacts of the weather disturbances.

The Land Transportation Office (LTO) on Tuesday issued a show-cause order and imposed a 90-day preventive suspension of the driver’s license of an actor who crashed his vehicle into several establishments.

According to the agency in a statement, the actor is required to appear before the LTO’s Intelligence and Investigation Division for a hearing scheduled Friday. The LTO did not name the actor in the statement.

He was also directed to submit a sworn explanation, as well as the necessary documents supporting his position concerning the allegations outlined in the show-cause order.

Meanwhile, the vehicle used by the actor has already been placed under alarm while the investigation is ongoing, the LTO said.

According to the agency’s investigation and a report from the Antipolo City Police Station, the actor fell asleep and lost control of the vehicle, causing it to cross into the opposite lane and ram three shops and a motorcycle along Marcos Highway in Antipolo City, Rizal. One person was injured in the incident.

The actor later admitted that he fell asleep while driving, saying that he lost control of the vehicle and was ready to take full responsibility for the incident.

The actor also said that he would address the needs of the injured individual and pay for the damage to the establishments caused by the accident.

‘Before even starting the vehicle, the driver should already know if they can remain alert until they reach their destination,’ LTO chief Assistant Secretary Markus Lacanilao said.

‘If you are tired or sleepy, do not force yourself to drive, as doing so puts not only yourself but also other motorists and people around you at risk,’ he added.

The LTO noted that the actor may face charges, including reckless driving, and the revocation of his license for being deemed an improper person to operate a vehicle.

Meanwhile, the LTO advised all motorists to ‘Be careful and responsible when driving. If you are tired or sleepy, do not force yourself to drive; take some time to rest instead.’