ERC rethinking GenCo IPO rule

The Energy Regulatory Commission (ERC) is exploring reforms to the public offering requirement (POR) to ease compliance for generation companies (GenCos) while ensuring safeguards remain in place for electricity consumers.

- By GABRIELL CHRISTEL GALANG

During an open commission meeting last week, ERC Chairperson Francis Saturnino Juan explained that GenCos have a low compliance rate with the POR guidelines, which were designed to encourage public participation through share offerings.

The ERC chief noted that GenCos must comply with the POR five years after being granted their Certificate of Compliance (COC). Compliance is achieved by either listing shares on the Philippine Stock Exchange (PSE) or by registering securities.