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Brix Lelis - The Philippine Star
March 18, 2025 | 12:00am
MANILA, Philippines — Tycoon Ramon Ang’s San Miguel Corp. (SMC) has dethroned the Aboitiz Group to become the dominant force in the country’s power generation sector.
Based on Energy Regulatory Commission (ERC) data as of end-2024, SMC sat at the top with a market share of 22.44 percent at the national level, equivalent to a capacity of about 6.08 million kilowatts (kW).
Aboitiz Equity Ventures Inc. (AEV), which previously held the top spot, closely trailed SMC with a national market share of 21.75 percent or around 5.89 million kW in capacity.
Coming in third was First Gen Corp. of the Lopez Group with a capacity of 3.58 million kW, representing 13.22 percent of the national market.
Manila Electric Co. (Meralco), chaired by tycoon Manuel V. Pangilinan, was at number four with a capacity of about 1.47 million kW for a 5.42-percent national share.
Completing the top five was the Zobel family-led Ayala Group, which accounted for 5.28 percent of the national market with 1.43 million kW in capacity.
By region, SMC dominated Luzon with a market share of 28.42 percent, followed by AEV (24.71 percent) and First Gen (13.84 percent).
In the Visayas grid, First Gen was leading with a 23.2-percent market share, with Meralco and AEV, respectively, accounting for 20.44 percent and 13.53 percent of the market.
AEV was the most dominant player in Mindanao with a market share of 14.88 percent, trailed by SMC at 8.85 percent and First Gen at 2.56 percent.
Under the Electric Power Industry Reform Act, the market share and installed generating capacity (IGC) of any company or related entity are capped at 30 percent per grid and 25 percent for the national grid.
As the country’s energy regulator, the ERC sets and adjusts the IGC and the market share limitation (MSL) annually, as necessary, based on the maximum capacity of generation facilities.
