The Energy Regulatory Commission (ERC) named conglomerate San Miguel Corp. as the top player in the power generation sector, with a market share of 22.44 percent as of Dec. 31, 2024.
ERC data showed that SMC has a total capacity of 6,079.606 megawatts, followed closely by Aboitiz Equity Ventures with 21.75 percent or 5,894.514 MW.
First Gen Corp. of the Lopez Group ranked as the third largest power generating company, capturing a 13.22-percent market share with 3,582.99 MW capacity.
Manila Electric Co. was fourth with 5.42 percent or 1,467.339 MW, and Ayala Corp. was at fifth place with 5.28 percent or 1,431.331 MW.
SMC remained the largest player in the Luzon grid, with a 28.42-percent market share, followed by AEV (24.71 percent), First Gen (13.84 percent), Ayala (6.47 percent) and Meralco (3.99 percent).
AEV and SMC are the dominant players in the Visayas and Mindanao grids, with a market share of 14.88 percent and 22.44 percent, respectively.
The ERC issued Resolution No. 7 Series of 2025 on March 13, 2025, setting the installed generating capacity (IGC) and market share limitation (MGL) per grid and the national grid for 2025.
“The commission noted, however, certain industry developments—such as the change in ownership of some large generation facilities—that have not been reflected in the data set. Once ready and available, the 2025 IGC and MSL shall be adjusted accordingly,” it said.
“All individuals and entities subject to the MSL are reminded to strictly comply with the prescribed limits and promptly report to the ERC within 15 days of exceeding these limits from the start of occurrence, including the reasons for non-compliance,” the ERC said.
Under Section 45 of Republic Act No. 9136, or the Electric Power Industry Reform Act of 2001 (EPIRA), any company or related entity is prohibited from owning, operating or controlling more than 30 percent of the IGC per grid and/or 25 percent of the national IGC.
The IGC and MSL are being set annually and may be adjusted as necessary, based on the maximum capacity of generation facilities.