WHEREAS, Section 2 of Republic Act No. 9136, otherwise known as the Electric Power Industry Reform Act of 2001 (EPIRA), declared as the policy of the State to ensure the quality, reliability, security and affordability of the supply of electric power;

WHEREAS, Section 37 of the EPIRA further mandates the Department of Energy (DOE) to supervise the restructuring of the electricity industry, and in addition thereto, to a) endure the reliability, quality and security of supply of electric power; b)  jointly with the electric power industry participants, establish the wholesale electricity spot market and formulate the detailed rules governing the operations thereof, and c) monitor private sector activities relative to energy projects in order to attain the goals of the restructuring, privatization, and modernization of the electric power sector as provided for under existing laws;