WHEREAS, Sections 30 and 37(f) of Republic Act No. 9136 or the Electric Power Industry Reform Act (EPIRA) of 2001 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, on 28 June 2002, the DOE, with the endorsement of the electric power industry participants, promulgated the wESM Rules through Department circular (DC) No. DC2002-06-0003;