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 this Act, the DOE shall establish a Wholesale Electricity Spot Market Composed of the WESM participants;

WHEREAS, Republic Act (R.A.) No. 7638 or the "Department of Energy (DOE)" Act of 1992 declares the policy of the State to ensure a continuous, adequate, and economic supply of energy with the end in view of ultimatety achieving self-reliance in the country's energy requirements;

WHEREAS, Republic Act (RA) No. 9136 or the Electric Power Industry Reform Act of 2001 (EPIRA), Section 2 (b) and (c), declares that it is the policy of the State to ensure the quality, reliability, security and affordability of the supply of electric power; and to ensure the transparent and reasonable prices of electricity in a regime of free and fair competition and full accountability to achieve greater operational and economic efficiency and enhance the competitiveness of Philippine products in the global market;

(Provisions for the Submission of Data by the National Transmission Corporation to the Renewable Energy (RE) Registrar, Obligations of the REM Governance Committee (RGC) and Renewable Energy Certificate (REC) Issuance, and Additional Seats in the RGC for the Retail Electricity Suppliers and for Small REM Generators)