In electric power: an artificial being created by operation of law with capital stock divided into shares and authorized to distribute to its shareholders dividends out of its surplus profits, having the right of succession and the powers, attributes and properties expressly authorized by law or incident to its existence [Section 4 (eeee), Rules and Regulations to Implement Republic Act No. 9136, Entitled “Electric Power Industry Reform Act of 2001”]
In electrification: an artificial being created by operation of law, with capital stock divided into shares, and authorized to distribute to its Shareholders’ dividends out of its surplus profits, having the right of succession and the powers, attributes and properties expressly authorized by law or incident to its existence [Rule 1, Section 4(q), DOE Department Circular No. DC2013-07-0015, Prescribing the Implementing Rules and Regulations of Republic Act NO. 10531, Otherwise Known as the “National Electrification Administration Reform Act of 2013”]