Stay informed of the latest happenings and headlines in the Philippine Power Industry with Mabuhay Energy’s Weekly News Spotlight! This week, we're featuring key articles from the Power Industry’s Regulatory sector that are shaping the energy landscape: Spotlight: 𝐄𝐑𝐂 𝐢𝐬𝐬𝐮𝐞𝐬 𝐨𝐦𝐧𝐢𝐛𝐮𝐬 𝐫𝐮𝐥𝐞𝐬 𝐨𝐧 𝐫𝐞𝐭𝐚𝐢𝐥 𝐞𝐥𝐞𝐜𝐭𝐫𝐢𝐜𝐢𝐭𝐲 𝐦𝐚𝐫𝐤𝐞𝐭 The Omnibus Rules, released by the ERC on Wednesday, establishes a Magna Carta for retail customers, outlining rights of retail customers, such as their right to choose suppliers, access to transparent billing and protection against premature contract terminations. In addition, licensing requirements for Retail Electricity Suppliers (RES) were also strengthened in the Omnibus Rules to ensure their financial viability and competitiveness, mandating a tangible net worth of P15 million for RES. READ MORE: https://malaya.com.ph/news_business/erc-issues-omnibus-rules-on-retail-electricity-market/ 𝐄𝐑𝐂 𝐫𝐮𝐥𝐞𝐬: ‘𝐋𝐨𝐧𝐠𝐬𝐭𝐨𝐩 𝐝𝐚𝐭𝐞’ 𝐢𝐬 𝐧𝐨 𝐥𝐨𝐧𝐠𝐞𝐫 𝐯𝐚𝐥𝐢𝐝 𝐚𝐬 𝐠𝐫𝐨𝐮𝐧𝐝 𝐟𝐨𝐫 𝐏𝐒𝐀 𝐭𝐞𝐫𝐦𝐢𝐧𝐚𝐭𝐢𝐨𝐧 The Energy Regulatory Commission (ERC) has firmly laid down that longstop date provision in power supply agreements (PSAs) will no longer be accepted downright as ground for unilateral contract pre-termination; and the allowable time frame for regulatory approval shall also be within 270 days or at least nine (9) months. Longstop date would refer to the last day by which an approval to a PSA must be rendered or issued, following fulfillment of all conditions in a contract. READ MORE: https://mb.com.ph/2024/8/24/erc-rules-longstop-date-is-no-longer-valid-as-ground-for-psa-termination Image sources: Malaya News, ERC Facebook Do you want to stay abreast of the headlines in the Philippine Power Industry? Subscribe to our weekly newsletter today! Talk to our energy professionals by sending an email to info@mabuhayenergy.com. Mabuhay Energy, Your Partner For Growth. Our roster of enthusiastic and experienced energy professionals is ready to make your electricity savings a reality! Visit mabuhayenergy.com or email us at sales@mabuhayenergy.com and schedule your free consultation to begin your energy savings journey! 🔌