The Energy Regulatory Commission released a list of the top five generation companies for the 2026 market, ranking them by installed generating capacity and corresponding market‑share limitations.
Total installed capacity nationwide reached 28.2 gigawatts, with Aboitiz Power leading at 6.85 GW and holding a 24 % market‑share limitation.
Among the leading five, Aboitiz Power, San Miguel Global Power, and Meralco PowerGen maintain diversified portfolios that include coal, gas, hydro, solar, and battery assets.
The Renewable Energy Law of 2008 obliges distribution utilities to increase the share of renewable energy in sales, prompting generators to develop renewable projects backed by assured off‑take agreements.
Meralco convened its annual stockholders meeting on June 30, where Meralco PowerGen’s chief executive presented the company’s 2025 financial and operational performance.
Core net income climbed to 16.8 billion pesos, reflecting a 52 % year‑over‑year increase, while plant availability averaged 95.2 %, meeting world‑class benchmarks.
Generation rose to 27,289 gigawatt‑hours, a 78 % jump from the previous year, and the firm participated fully in the reserve market for the first time.
Global power generation grew 2.7 % in 2025; China and Vietnam posted 4.8 % and 5.9 % growth respectively, while the Philippines overall expanded only 0.2 %, underscoring Meralco PowerGen’s strong outperformance.
The closure of the Chromite Gas Holdings transaction—where Meralco PowerGen holds 60 % and Aboitiz Power 40 %—spurred significant growth, and a joint venture with San Miguel Global Power created the country’s first integrated LNG import and regasification terminal.
The LNG facility supplies 2,475 megawatts, covering roughly 18 % of national grid demand and providing reliable baseload capacity.
Coal and gas/LNG plants deliver continuous power, hydro contributes primarily during wet seasons, and geothermal remains limited to volcanic regions.
The company highlighted its battery energy storage system, noting the recent commissioning of the Toledo BESS in Cebu to strengthen grid stability.
MTerra Solar’s large‑scale battery has delivered 93.3 gigawatt‑hours since March, helping to mitigate the “duck curve” created by daytime solar generation and nighttime demand peaks.
Studies are under way to assess small modular nuclear reactors as a future energy source for the country, evaluating safety, cost, and integration with existing infrastructure.
The Visayas grid experienced daily yellow alerts for over a month, prompting the re‑energization of Unit 3 at Panay Energy Development’s 278‑megaw
