{"id":332359,"date":"2025-04-29T23:21:19","date_gmt":"2025-04-29T15:21:19","guid":{"rendered":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/?p=332359"},"modified":"2025-04-29T23:21:21","modified_gmt":"2025-04-29T15:21:21","slug":"trade-the-news-doe-recalls-clearance-for-meralco-mgens-atimonan-coal-plant","status":"publish","type":"post","link":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/trade-the-news-doe-recalls-clearance-for-meralco-mgens-atimonan-coal-plant\/","title":{"rendered":"Trade the News: DoE recalls clearance for Meralco MGen\u2019s Atimonan coal plant"},"content":{"rendered":"\n
Potential Impact of this News<\/strong><\/td>NEGATIVE on the stock price<\/strong><\/td><\/tr>
Company<\/strong><\/td>Manila Electric Co.<\/td><\/tr>
Stock Code<\/strong><\/td>MER<\/td><\/tr>
Long-term Recommendation on the Stock<\/strong><\/td>Hold<\/td><\/tr>
1-Year Target Price<\/strong><\/td>PHP 527.70<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n
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MERALCO PowerGen Corp. (MGen), the power generation unit of Manila Electric Co. (MER), said the Department of Energy (DoE) has recalled its previous approval that exempted the company\u2019s 1,200-megawatt (MW) Atimonan coal-fired power projects from the 2020 coal moratorium.<\/p>\n\n\n\n

\u201cMGen received official communication from the DoE that the Acknowledgement of Non-Coverage for Atimonan One Energy, Inc.\u2019s 1,200-megawatt power plant that it previously issued is being recalled for further review, pursuant to government\u2019s policies and programs,\u201d Meralco said in a stock exchange disclosure on Wednesday.<\/p>\n\n\n\n

This follows a statement by MGen President and Chief Executive Officer Emmanuel V. Rubio on Tuesday that the company\u2019s 1,273-MW coal-fired power plants were exempt from the 2020 coal moratorium. The Energy department issued the moratorium on the development of new coal-fired power plants as the country sought to reduce its dependence on coal.<\/p>\n\n\n\n

The supposed exemption from the coal moratorium means that the Energy department had approved the construction of the 1,200-MW Atimonan plant in Quezon and the 73-MW Toledo project in Cebu.<\/p>\n\n\n\n

\u201cThese projects are considered critical baseload facilities essential to ensuring the delivery of reliable and affordable electricity to consumers, and MGen looks forward to the conclusion of the DoE\u2019s further review,\u201d Meralco said.<\/p>\n\n\n\n

The confirmation for the Atimonan plant is subject to the condition that the company will commit to discontinue the use of coal as fuel by 2050. As a result, the company is considering ammonia as one of the viable replace-ments for coal.<\/p>\n\n\n\n

Atimonan One Energy, Inc. (A1E), a subsidiary of MGen, initially proposed to develop a 1,200-MW ultra-supercritical coal-fired power plant at the project site under the environmental compliance certificate issued in 2015.<\/p>\n\n\n\n

(News Source: Business World<\/a>)<\/em><\/p>\n\n\n\n

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This report is prepared by PinoyInvestor\u2019s partner broker below. Find out more about our partner brokers<\/a> and sign up to avail their complete trading brokerage services.<\/em><\/em><\/em><\/p>\n\n\n\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

Take advantage of the price opportunity that might arise when the news hits. Trade the news!<\/p>\n","protected":false},"author":11,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1371],"tags":[],"class_list":["post-332359","post","type-post","status-publish","format-standard","hentry","category-trade-the-news","generate-columns","tablet-grid-50","mobile-grid-100","grid-parent","grid-33"],"_links":{"self":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/332359","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/users\/11"}],"replies":[{"embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/comments?post=332359"}],"version-history":[{"count":1,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/332359\/revisions"}],"predecessor-version":[{"id":332361,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/332359\/revisions\/332361"}],"wp:attachment":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/media?parent=332359"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/categories?post=332359"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/tags?post=332359"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}