SEC, ERC launch SEC POWERS for power firms' capital raising

The Securities and Exchange Commission (SEC) and the Energy Regulatory Commission (ERC) have launched SEC POWERS, an initiative aimed at simplifying capital raising for power generation and distribution companies.

Launched in 2024 through SEC Memorandum Circular No. 4, Series of 2024, SEC POWERS seeks to streamline the registration process for securities, supporting public share offerings as mandated by law.

SEC Chairperson Emilio B. Aquino emphasized that the simplified registration statement makes it easier for power generators and distribution utilities to offer their shares to the public, attracting more investment in energy projects.

Under this program, the SEC is required to review registration statements within 45 days from filing, helping companies meet regulatory requirements more efficiently.

ERC Chairperson Monalisa Dimalanta highlighted that collaboration between ERC and SEC will strengthen the energy sector by providing necessary support for industry players, aiming to get an additional 100 energy companies to comply with public offering rules within the next year.