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:
- ensure the reliability and quality of supply of electric power;
- ensure transparent and reasonable prices accountability 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 product in the global market; and
- protect the public interest as it is affected by the rates and services of electric utilities and other providers of electric power.
WHEREAS, EPIRA mandated the Department of Energy (DOE) to supervise the restructuring of the electric industry and jointly with the electric power industry participants, establish the wholesale electricity spot market and formulate detailed rules governing the operations thereof; and
WHEREAS, consistent with the thrust of President Rodrigo R. Duterte to ensure protection of the public, particularly thhe Filipino electricity consumers, the DOE deemed it proper to constitute an independent committee to audit and review the financial, operational and systems records of the Philippine Electricity Market Corporation (PEMC).
NOW THEREFORE, in consideration of the aforementioned premises, the following are hereby ordered:
Section 1. Creation and Composition. There is hereby created an independent committee to be composed of the following:
| Chairmain: | Usec Jesus Cristino P. Posadas |
| Vice Chairman: | Usec Felix William B. Fuentebella |
| Members: | Asec Leonido Pulido Maria Teresa F. Mendoza Jose M. Layug, Jr. Araceli S. Soluta Thelma M. Cerdena |
Section 2. Responsibilities. The committee shall have the following responsibilities:
- Conduct a review and audit of the financial, operational and systems records of PEMC;
- Submit a report of the results of its review to the DOE Secretary; and
- Perform such other responsibilities as the DOE Secretary may direct.
Section 3. Terms and Completion of Report. The term of thr committee shall end on February 28, 2017, or until the completion of its functions, whichever is earlier. The DOE Secretary may provide for a reasonable period of extension of the term upon the request of the comittee.
Section 4. Secretariat and Technical Working Group. The DOE Financial Services, through its Compliance Division and Accounting Division, is hereby authorized to provide technical and secretariat support during the conduct of meetings and other relevant activities of the committee.
Section 5. Confidentiality. Pursuant to Republic Act No. 9136, any confidential information obtained in the course of this review shall be maintained in confidence. No statement shall be disclosed as to the contents of the committee's report prior to its submission to the DOE.
Section 6. Funding. Funding for the effective and efficient operation of the committee shall be sourced from any available funds of the DOE.
Section 7. Effectivity. This Order shall take effect immediately.
Issued this 28th day of November, 2016 at Energy Center, Rizal Drive, Fort Bonifacio Global, Taguig City.
ALFONSO G. CUSI
Secretary
