Positive News Media (Free subscription) | 07/24/2008
MANILA, July 27 (PNA) -- The Court of Appeals (CA), in a 57-page decision, junked the Securities and Exchange Commission's order preventing Manila Electric Co. (Meralco) from including proxy votes in the controversial stockholders' meeting last May 27.
ABS CBN (Free subscription) | 07/14/2008
Stocks ended higher on Monday as investors chased cheap issues, led by power distributor Manila Electric Co. (Meralco).
Business World (Free subscription) | 07/16/2008
... holding firms shed 0.61% or 7.66 points to 1,245.44. Index heavyweight Philippine Long Distance Co. dropped 2.06% or P50 to P2,375 while Lopez-led Manila Electric Co. lost 5.55% or P3 to P51. Property developer Megaworld Corp. slipped by 3.38% or four centavos to P1.14 while Ayala Land, Inc. lost 2.17% or P0.20 to P9. The Metropolitan Bank and Trust Co. dropped 3.12% or P1 to P31 while Banco...
ABS CBN (Free subscription) | 07/11/2008
Stocks closed lower on Friday as investors stayed on the sidelines after oil prices rebounded overnight, fueling worries over high inflation.But bargain-hunting in some issues, led by Manila Electric Co. (Meralco), helped trim the market's losses."We're swimming the same tide as overseas markets, most are down today," said Astro del Castillo of First Grade Holdings."The same suspect--the rebound...
ABS CBN (Free subscription) | 07/07/2008
... fall to 22-month low of 2,339.84 points on Thursday.Megaworld added 7.0 percent to 1.22 pesos, Manila Electric Co. gained 8.4 percent to 45 pesos, and Metropolitan Bank rose 6.4 percent to 33.50 pesos.Philippine Long Distance edged up 0.6 percent to 2,360 pesos.San Miguel A was unchanged at 40 pesos while San Miguel B increased by 1.3 percent to 40 pesos.
ABS CBN (Free subscription) | 07/01/2008
... and distribution of natural gas. Union Fenosa previously owned 40 percent of power distributor Manila Electric Co. but decided to divest its stake following a series of regulatory decisions ordering the utility to refund its customers over P30 billion.BGEC, on the other hand, is a Filipino-owned corporation and a member of the Burgundy Group of Companies, which has vast experience in bringing...
ABS CBN (Free subscription) | 06/27/2008
Manila Electric Co. (Meralco) warned on Friday that should the Energy Regulatory Commission (ERC) rule in favor of a government petition, the country's largest power distributor will incur heavy losses.
Positive News Media (Free subscription) | 06/25/2008
MANILA, June 27 (PNA) --- An irate consumers group which calls itself as the REFUND movement, filed on Wednesday a landmark class action suit before a Makati court demanding from the Manila Electric Co. (Meralco) a P13-billion refund for alleged illegal fees that have been collected earlier by the power distribution giant.
ABS CBN (Free subscription) | 06/21/2008
Manila Electric Co. (Meralco) announced that power outages occurred in areas of Metro Manila as well as in areas of Cavite, Batangas and Laguna provinces due to the effects of Typhoon "Frank" (international codename Fengshen) which is barreling its way towards Metro Manila.
ABS CBN (Free subscription) | 06/22/2008
... public information officer, said the suspension was due to the interruption of power supply from Manila Electric Co. (Meralco).Radio dzMM’s Special Coverage on the typhoon reported that the mass transit operations in the two lines were also suspended due to heavy rains and strong winds.Operations would resume when power supply resumes, said the report.Typhoon "Frank" continues to barrel...
ABS CBN (Free subscription) | 06/17/2008
Tacloban City - While long queues have been observed in various parts of Metro Manila with "lifeline consumers" of Manila Electric Co. (Meralco) claiming their P500 power subsidy from the government, Eastern Visayas holds a different scenario.
ABS CBN (Free subscription) | 06/12/2008
The patriarch of the Lopez family, which controls the Manila Electric Co., said that the fight for the distribution utility is far from over following the tension-filled annual stockholders' meeting last month.
Business World (Free subscription) | 06/11/2008
CONSUMERS CAN LOOK FORWARD to receiving reduced power bills next month as Manila Electric Co. (Meralco) yesterday said lower spot market prices and reduced system losses had allowed it to cut rates for June.
ABS CBN (Free subscription) | 06/11/2008
The Securities and Exchange Commission (SEC) asked the Court of Appeals (CA) Wednesday to allow implementation of its cease and desist order (CDO) on grounds that the law empowers the regulatory agency to stop officials of the Manila Electric Co. (Meralco) from counting proxies in favor of pro-management directors. Commenting on the CA's TRO, the SEC said Meralco's assertion that the CDO had...
ABS CBN (Free subscription) | 06/11/2008
Customers of Manila Electric Co. (Meralco) will enjoy a rate cut of up to 48.72 centavos per kilowatt-hour (kWh) this month, a company official said.
