The economy-wide impact of the restructuring of electricity industry makes it an important area for continuing study. This paper looks into the proposed restructuring of the electricity industry, to be accomplished through legal reform, from three perspectives. First, the paper examines the restructuring from the standpoint of the legal conception of the government-nongovernment distinction obtaining in the Philippines. Second, the paper examines the proposed restructuring from the viewpoint of economic efficiency. Finally, the paper examines the restructuring from an institutional approach, that is, from the viewpoint of the legal rules obtaining and the participants in the industry, particularly the investors, the regulators, and the consumers.
