WHEREAS, Republic Act No. 9136 titled, "Electiic Power Industry Reform Act of 2001" or the EPIRA, declares the policy of the State, among others, to ensure the quality, reliability, security, and affordability of the supply of electric power and to ensure transparent and reasonable prices of electricity in a regime of free and fair competition and full public accountability to achieve greater operational and economic efficiency and enhance the competitiveness of Philippine products in the global market;

WHEREAS, Sections 30 and 37(f) of Republic Act No. 9136 or the Electric Power Industry Reform Act (EPIRA) provides that the Department of Energy (DOE), jointly with the electric power industry participants, shall establish the Wholesale Electricity Spot Market (WESM) and formulate the detailed rules governing the operations thereof;

WHEREAS, Section 30 of Republic Act No. 9136 otherwise known as the Electric Power Industry Reform Act of 2001 (EPIRA) provides that within one (1) year from the effectivity of the Act, the Department of Energy (DOE) shall establish a Wholesale Electricity Spot Market (WESM) composed of the WESM participants;