Good morning, Ka-Peso!

It’s Thursday, May 22—and we’re rolling out two new sections you asked for: Deep Dive and Peso Picks. Deep Dive is where we unpack big topics that hit close to home. Our latest? Why electricity in the Philippines is so expensive. We read 15+ sources (yes, including YouTube videos) to break it down, minus the jargon.Peso Picks is your cheat sheet for tools, apps, and spots we actually recommend. From budgeting apps to spa escapes—this one’s for you.

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Electricity prices in the Philippines are among the highest in Southeast Asia. As of 2024, Filipino households pay an average of $0.22 per kilowatt-hour (around ₱12.24). That’s almost double the price in Thailand ($0.14 or ₱8) and nearly seven times what households in Malaysia pay ($0.0312 or ₱1.78).

1. Heavy Dependence on Imported Fossil Fuels

Around 74% of power comes from fossil fuels, especially coal and gas—most of which are imported. This makes electricity bills vulnerable to global price swings and peso devaluation. Fuel costs are directly passed to consumers, as seen in PSA charges rising with currency drops.

2. Market Control and EPIRA Failures

A few big players—just 11 families—dominate power generation, and three conglomerates control transmission. EPIRA, the law that privatized the energy sector, failed to prevent monopoly-like behavior. Meralco, for instance, buys over 40% of its energy from its own sister companies.

3. Infrastructure Woes and Frequent Outages

Frequent power interruptions (28 per household annually) and outdated coal plants push households to rely on costly diesel generators. These can cost up to ₱70/kWh versus Meralco’s ₱11.96/kWh—especially painful during blackouts.

4. Slow Renewable Adoption

The Philippines has huge solar potential (up to 91,000 MW from rooftops), but regulatory hurdles like connection fees and limits on net metering block growth. Meanwhile, renewable subsidies via the FIT program have raised bills even more.

5. Recent Price Hikes and Trends

Meralco raised rates in Dec 2024, adding ₱0.1839/kWh, pushing bills for 200 kWh homes up by ₱21/month. WESM prices are also volatile, especially in regions like Mindanao and Visayas where prices jumped 40%+ in late 2024.

6. What Needs to Change

Experts recommend overhauling EPIRA, breaking up oligopolies, decentralizing energy via solar + battery setups, and modernizing the national grid. These steps could cut ₱4.39/kWh in system losses and finally reduce monthly bills long-term.

Fixing the power crisis in the Philippines isn’t just about new tech—it’s about bold policy, stronger regulation, and breaking monopoly power. Until that happens, expect high bills to stay.

Want more? We dig even deeper on this topic over at our site—full analysis, more stats, and none of the fluff.

[Read the full Deep Dive here.]

PSEi: 6,522.80 ▲ +104.11 (+1.62%)
BSP Rates: 5.50% (borrowing) | 5.00% (deposit) | 6.00% (lending)

🌐 Global Markets

Bitcoin: $96,400.00 ▲ +0.56%
Gold: $3,394.15/oz ▲ +0.63%

💱 Exchange Rates (PHP per 1 unit)

🇺🇸 USD: ₱55.37
🇬🇧 GBP: ₱73.88
🇸🇦 SAR: ₱14.76
🇯🇵 JPY: ₱0.3841
🇪🇺 EUR: ₱62.78
🇦🇪 AED: ₱15.25
Note: Exchange rates may vary slightly depending on provider.

PH, US Stage Joint Drills in Tense South China Sea
For the first time ever, Philippine and U.S. Coast Guards joined forces with the Navy and Air Force for drills in the South China Sea. The joint exercises—held near Palawan and Mindoro—included search-and-rescue training and communication drills. Friends who train together, defend together.This marks the 6th round of these “maritime cooperative activities” since 2023. AFP Chief Romeo Brawner said it’s all part of modernizing the military and flexing our defense friendships.

Why it matters: China still claims most of the sea (yes, even after a 2016 legal ruling said nope).

Germany joins the friendship: PH inks new defense deal in Berlin.
Germany is now officially part of the Philippines’ growing defense crew. On May 14, Defense Secretary Gilberto Teodoro and German Defense Minister Boris Pistorius signed a new agreement to boost military ties—covering cybersecurity, peacekeeping, logistics, and more.This isn’t their first rodeo. The deal builds on a 1974 training pact and includes plans for more talks between the two countries' defense teams.

Why it matters: Manila’s been busy collecting allies beyond the usual U.S. friendship. Deals with Japan, France, Canada, and New Zealand are stacking up.

Translation: the West PH Sea has new watchers on the block.

SM Goes Big on Business: ₱1.7B Expansion to Turn SMX into Expo Giant
SM Prime is betting big on business events. The company just announced a ₱1.7B expansion of its flagship SMX Convention Center in Pasay, adding over 18,000 sqm of leasable space. The upgraded complex—called SMXCITE—will soon cover 35,000 sqm, nearly half the size of Hong Kong’s AsiaWorld-Expo. Located in the MOA complex, it’ll house twin buildings that can host 18,000 guests each. With tourism and MICE demand bouncing back, SM is positioning Manila as Asia’s next go-to expo hub.

Quick take: Who doesn’t love a good expo? Everyone’s there for the freebies! The more booths and suppliers, the more loot I’m taking home next time. Thanks, SM!

Comelec says: Overspending in 2025 Campaigns Could Get You Booted
Candidates better keep those receipts. Comelec Chair George Garcia warned that going over the legal campaign spending limit—even by a peso—could lead to disqualification in the 2025 elections. Under the SOCE Law, candidates can only spend up to ₱3 per voter (₱5 if you're independent). That’s ₱209M max for party-affiliated senators.Comelec is reviewing around 400 overspending cases and says it won’t wait for court convictions to act. Public SOCEs drop June 12—time to do some budget sleuthing.

Translation: if you cheat the limit, don’t expect a seat.

Big Budget, Cheap Rice: DA, NFA Eye ₱40B to Fund P20/kilo Program
The Department of Agriculture and NFA are asking for a ₱40B budget in 2026 to boost disaster relief and keep ₱20-per-kilo rice flowing through the government’s “Benteng Bigas Meron Na” program.The NFA wants ₱27B to buy 900,000 metric tons of palay for buffer stocking—triple its current budget. Meanwhile, the DA is seeking ₱15B (up from ₱5B) to expand low-cost rice access, especially in Mindanao.The plan includes 150 new trucks and enough rice to cover 15 days of national consumption.

Translation: big money for hopefully big bags of bigas.

Inflation Stays in Line, But Growth Outlook Wobbles
The Bangko Sentral ng Pilipinas says inflation will stay within the 2–4% target until 2027, with 2025 projected at just 2.3%. April’s 1.4% rate—the slowest in five years—helped anchor expectations. But while lower inflation could support consumer spending, economic growth may still undershoot the government’s 6–8% goal. The BSP warns of headwinds like global trade tensions, weak exports, and tight monetary policy, even as it gradually cuts rates. Officials say it’s “too early” to lower targets, but signs suggest we may be hoping more than planning.

Translation: prices are calming down, but the economy might be too.

Remittance Growth Slows, Still Powers PH Economy
Cash remittances from OFWs grew 2.6% in March—hitting $2.81 billion—but that’s the slowest pace in nine months, according to the BSP. Land-based workers sent home $2.22B (up 3.1%), while sea-based remittances barely moved at 1% growth. Q1 totals reached $8.44B, led by inflows from the US, Singapore, and the Middle East. Despite global uncertainties and Trump’s stricter immigration stance, economists say remittances remain steady, fueling household spending and cushioning the economy. Still, with slower growth creeping in, the remittance engine may need a tune-up.

Translation: OFWs are still sending, just not stepping on the gas.

EDSA Rehab Finally Starts in June—Brace for Gridlock and Jackhammers
After multiple delays, the government says EDSA’s long-overdue rehab will finally begin mid-June. The year-long ₱7.3B overhaul includes road strengthening, drainage upgrades, and repairs on the aging Guadalupe Bridge. It’ll be done by lane, round-the-clock, starting with the bus lane. But here’s the catch: there’s no full traffic plan yet. Officials say MRT trains will be added, and alternate routes like Skyway 3 will be promoted. The goal: finish key segments before the 2026 ASEAN Summit.

Reality check: major glow-up incoming, but EDSA traffic is about to level up too.

 Your cheat sheet for smarter living

1. Toshl Finance
Track your gastos without the drama
Use case: For anyone who wonders where their sahod disappeared after 3 days.
Why you need it: Toshl lets you track expenses, set budgets, and see spending habits clearly—without boring you to death.
✔️ Works with PHP
✔️ Free version available
Link: toshl.com

2. Notion AI
The AI sidekick for your to-do list
Use case: For freelancers, students, and remote workers drowning in notes and deadlines.
Why you need it: Summarizes meetings, writes drafts, and organizes your brain. Think ChatGPT but inside your planner.
✔️ Works in the Philippines
✔️ Free tier (AI is paid but powerful)
Link: notion.so/product/ai

3. Sweldong Pinoy – 13th Month Pay Calculator
See how much Christmas magic you're really getting
Use case: For employees trying to plan expenses, gifts, or early vacation dreams.
Why you need it: Calculates your 13th month pay based on actual rules in PH labor law—clear, simple, and local.
✔️ Made for Filipinos
✔️ Works instantly, no login
Link: sweldongpinoy.com/13th-month

4. Forest App
Focus now, scroll later
Use case: For anyone who opens TikTok “for 5 mins” and wakes up 3 hours later.
Why you need it: It gamifies focus—stay off your phone, grow a tree. Get distracted, tree dies. Ouch.
✔️ Available in PH app stores
✔️ Guilt-based productivity that works
Link: forestapp.cc

5. Luljetta’s Hanging Gardens, Antipolo
Spa day, minus the flight to Bali
Use case: For burnt-out 9-to-5ers or couples needing a quick escape.
Why you need it: Peaceful views, infinity pools, and full-on spa vibes just 1–2 hours from Manila.
✔️ Local travel gem
✔️ Great for solo resets or barkada breaks
Link: luljettas.com

A sweeping UK-EU deal aims to fix years of post-Brexit headaches. Highlights include a push for smoother trade in food and animal products, fewer border checks, and a potential removal of “Not for EU” labels. A linked carbon market will also help UK firms dodge steep EU climate tariffs. Young Brits may get easier EU visas, pets might skip travel paperwork, and the UK’s energy market is edging back into the EU system. Businesses cheered, ports want refunds, and Brexit hardliners are fuming.

Quick take: Brexit didn’t get undone—but it definitely just got decluttered.

Spain Cracks Down on Airbnb: 65,000 Listings Ordered Off the Map

Spain just ordered Airbnb to block nearly 66,000 rental listings over licensing issues, citing fake or missing registration numbers and unclear ownership details. The move is part of a broader government crackdown amid a housing crisis blamed in part on short-term rentals driving up prices in cities like Madrid and Barcelona.Airbnb plans to appeal, calling the decision overreaching. But with courts backing the government, Spain’s getting serious about putting homes back into the hands of residents.

The short version: Tourists out, tenants in—Spain’s not playing around.

Sesame Street Finds a New Home on Netflix—Without Leaving PBS

Sesame Street just scored a lifeline. After HBO Max dropped it, Netflix swooped in to secure a new streaming deal starting with Season 56. In a rare move, episodes will also air same-day on PBS, keeping the iconic show accessible to kids nationwide for free. The new season ditches the old magazine format and introduces a fresh animated segment, Tales From 123. With Netflix’s global reach and PBS’s trusted presence, Big Bird and the gang are back on solid ground.

Translation: Elmo’s still on air—now with a Netflix passport and PBS roots.

Aboitiz InfraCapital just secured original proponent status (OPS) for a ₱5.1B bulk water supply project in Iloilo City. The plan? Build a treatment plant and 4-kilometer pipeline to deliver 86 million liters of water daily. It’s a major step as Iloilo grapples with rising demand from a growing population. Aboitiz now enters the “Swiss Challenge” stage, where other companies can bid, but Aboitiz gets the right to match. If successful, this could be another Davao-style water win.(Read more)

What this really means: Iloilo’s future water worries just got a backup plan—with Aboitiz holding the hose.

PH Call Centers Still on Top—but AI Is Coming for the Phones

The Philippines remains the global leader in voice-based outsourcing, but new threats are on the line. Thanks to AI-powered tools like real-time translation and accent neutralizers, non-English-speaking countries are catching up fast—think Eastern Europe, Latin America, and even our Southeast Asian neighbors.CCAP says empathy and work ethic still give Pinoys the edge, but warns against complacency. The government just approved ₱500M for upskilling workers in the IT-BPM sector to future-proof jobs.(Read more)

Reality check: We’re still the voice of the world—for now. But it’s time to upgrade the headset.

GMA Boss Admits: Slumping Shows Are Hurting Ad Revenues

GMA Network’s top exec Gilberto Duavit Jr. says weak-performing programs and shifting viewer habits are dragging down ad revenues. In a stockholders meeting, he blamed “the programs themselves” and the shift from TV to digital for a 5% drop in ad income, which hit ₱16.24B last year. Ratings also slid across key markets.Duavit teased a major content shake-up and hinted at stronger investments in film and streaming. Talks with ABS-CBN are ongoing, but no new collabs beyond Pinoy Big Brother—yet.(Read more)

Reality check: If the shows don’t click, the ads won’t stick. Time for a content reset.

Flexible is the Future: Coworking Demand Rises as Work Styles Evolve

Coworking spaces in the Philippines are seeing a surge in demand as businesses shift toward flexible leases and hybrid setups. With inflation dropping to 1.4% and rate cuts on the horizon, companies—from startups to large firms—are eyeing agile, low-risk office solutions. Providers like GreatWork and Weremote report growing interest from teams wanting “move-in ready” offices without the burden of long-term contracts or pricey fit-outs. As work moves closer to home, coworking is now more strategy than trend.(Read more)

Translation: No lease? No problem. Work has officially left the cubicle.

PH Tapped as US 'Friendshoring' Bet Amid Global Trade Shifts

The Philippines is emerging as a “friendshoring” hub for U.S. firms looking to diversify supply chains, says HSBC. With solid US ties, low tariffs, and semiconductor expertise, the country could benefit from the China+1+1 strategy. While risks like high power costs and skills gaps remain, reforms and global shifts are opening doors. If the 90-day tariff pause ends favorably, PH exports—especially electronics—could surge.(Read more)

In plain English: The US is scouting new allies, and PH might just make the tech varsity.

Auto Sales Skid in April as Passenger Car Demand Tanks

Philippine auto sales dropped 10% in April—the steepest fall in over three years—driven by a 35.5% plunge in passenger car sales, according to CAMPI-TMA. April’s total hit 33,580 units, down from 37,314 last year. Commercial vehicle sales held up better, dipping just 0.6%. Analysts blame price sensitivity, fewer selling days, and cautious consumer sentiment amid tight loan conditions and tariff worries. EVs are growing, but slowly. Year-to-date sales are still up 2.5%, with Toyota leading the pack.(Read more)

The short version: More traffic, fewer buyers—car sales hit a red light.