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 the Act, the Department of Energy (DOE) shall establish a Wholesale Electricity Spot Market (WESM) composed of the WESM participants;

WHEREAS, Section 37 of the EPIRA further mandates the DOE to, among others, supervise the restructuring of the electricity industry and jointly with the electric power industry participants, establish the WESM and formulate the detailed rules governing the operations thereof;