WHEREAS, Sections 30 and 37(f) of the Republic Act (RA) No. 9136 or the "Electric Power Industry Reform Act of 2001" (EPIRA) mandate the Department of Energy (DOE) to supervise the restructuring of the electricity industry and in addition thereto, a) ensure 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 to attain the goals of the restructuring, privatization, and modernization of the electric power sector as provided for under existing laws;