New SEC guidelines seen to power up energy sector

The Securities and Exchange Commission (SEC) is planning to launch early next year a set of guidelines that will help further energize the country's power sector.

- By RICHMOND MERCURIO

SEC Commissioner Javey Paul Francisco said the commission, as the national regulatory agency mandated to regulate the capital market, is "bringing a potent source of financing closer to energy companies" through regulations such as the Securing and Expanding Capital for PowerGen Operators and Wholesale Electricity and Retail Services (SEC POWERS).

Francisco said SEC POWERS simplifies the registration of securities for power generation companies and distribution utilities.

He said the guidelines are in line with Republic Act 9136, or the Electric Power Industry Reform Act of 2001 (EPIRA), which mandates power generation companies and distribution utilities to offer and sell at least 15 percent of their shares to the public.