The Energy Regulatory Commission (ERC) has eased the public listing requirements for power generation companies and electric distributors, streamlining compliance with a key provision of the Electric Power Industry Reform Act (EPIRA).
Under revised guidelines approved last week, firms are still required to offer at least 15 percent of ownership to the public—either through Philippine Stock Exchange (PSE) listing or direct share offerings—but the process has been made simpler and more practical.
ERC chairperson Francis Saturnino Juan said the updated rules provide a clearer definition of holding companies and align listing requirements with PSE standards, eliminating previous confusion and regulatory overlaps.
The new rules also extend the timeframe for firms to comply, a move seen to benefit small and medium-sized power players who had difficulty meeting earlier deadlines.
Juan called the move “a win for rationality and public participation,” noting that public offerings increase industry accountability and give Filipinos more investment opportunities in the power sector.
While the ERC reiterated the importance of compliance with EPIRA’s public offering mandate, it clarified that non-compliant firms will not be penalized immediately, citing the need to maintain power supply stability.
