WHEREAS, Section 37 of Republic Act No. 9136 or the "Electric Power Industry Reform Act of 2001" (EPIRA), mandates the Department of Energy (DOE) to among others:

a) ensure the reliability, quality, and security of supply of electric power;

b) encourage power sector investments in the electricity sector and promote development of indigenous and renewable energy sources and develop policies and procedures, and;

c) as appropriate, promote a system of energy development incentives to enable and encourage electric power industry participants to provide adequate capacity to meet demand including, among others, reserve requirements;