SEN. Sherwin Gatchalian sought the lifting of the public offering requirement provision in the Electric Power Industry Reform Act of 2001 (Epira) in order to entice more companies to engage in the generation of electricity in the country.
"In order to promote competition and encourage market development, we have to relax some policies such as public listing, which proved to be burdensome to generation companies especially to small renewable energy gencos that have difficulty in complying," said Gatchalian, chairman of the Senate energy committee.
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