WHEREAS, under Republic Act No. 9136 or the Electric Power Industry Reform Act of 2001 (EPIRA), it is hereby declared policy of the state to, among others:

a. ensure the reliability and quality of supply of electric power;

b. 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; and

c. protect the public interest as it is affected by the rates and services of electric utilities and other provider of electric power.

WHEREAS, the EPIRA mandated the Department of Energy (DOE) to supervise the restructuring of the electricity industry and jointly with the electric power industry participants, establish the wholesale electricity spot market and formulate the detailed rules governing  the operations thereof;