ERC Sets Rules Requiring DUs to Go Public
MANILA, Philippines - New rules being drafted by the Energy Regulatory Commission (ERC) will require all power generation and distribution utilities (DUs) to undertake an initial public offering of equivalent to 15 percent of their shares.The ERC said this is in line with the mandate of the Electric Power Industry Reform Act (EPIRA) and the rules of the Philippine Stock Exchange (PSE) and the Securities and Exchange Commission (SEC).While these rules are not new, the ERC has been encountering opposition from the industry players. But this time, the ERC appears to be firm in implementing these rules.In its 11-page proposed guidelines, the ERC said the aim is to enhance the inflow of …
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Publication information: Article title: ERC Sets Rules Requiring DUs to Go Public. Contributors: Not available. Newspaper title: Manila Bulletin. Publication date: September 12, 2010. Page number: Not available. © 2009 Manila Bulletin Publishing Corp. COPYRIGHT 2010 Gale Group.
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